When buying homes in Toronto, or any area which you desire, there are many factors which determine the value of your home. Here are some things to consider when trying to figure out the correct value of your home:
Where is your home located? Is it near amenities such as shopping malls, restaurants, subways, banks and/or highways? It is important to know whether your house is in a "high end" or "low end" area. The value of the houses in the neighborhood you live in, will affect the value of your home in the real estate market.
What features does your home have to offer? Is your home's interior design desirable in the current market? Swimming pools, bungalow style homes, large backyards, and extra living space are all examples of features which may affect the value of your home in today's market.
When determining the value of your home, the visible upkeep of the house is very important. The more you keep up with the maintenance of your home, the higher the value of your property will be- in the market you watch based on your real estate needs.
Are there major renovations or home improvements done to your home? Eliminating obsolete technology, upgrading bathrooms kitchens, and bedrooms, these are all factors which could attract potential buyers in the real estate market in Toronto, or any other area of your choice.
The current real estate market conditions will affect the value of your home. If there is a high demand for homes but not many homes on the market, you can expect competition between buyers and the sellers can have an edge over the market- which could potentially get a higher value of the home.