Why Online Home Value Estimates Get It Wrong (and How to Find Out What Your Home Is Really Worth)
You’ve probably tried one. You type in your address, a number comes up, and you wonder if it’s right.
Usually it’s in the ballpark, but not close enough to rely on.
Say there are two houses on the same street in Kanata. Same size, same age, same lot. An online estimator treats them as twins. But one still has the original kitchen and carpet, and the other was fully redone last year, with new floors, a new kitchen, and a finished basement. Anyone who walks through both knows they’re not worth the same. The algorithm doesn’t, because it only has public records and past sales to go on. It hasn’t seen the inside, it doesn’t know how the layout lives, and it can’t tell that your backyard backs onto a park while the house next door faces a busy road.
It also runs behind. If prices on your street have moved over the last few weeks, the number on your screen is probably still catching up. And in places like Kanata and Stittsville, one street can behave very differently from the one two blocks over. A tool that looks at the whole area just averages that out.
When I evaluate a home, I come and see it. I look at what’s been updated, compare it to recent sales and active listings nearby, and pay attention to what buyers are doing right now. You get a number and the reasons behind it, so you know why it is what it is and can make decisions with confidence.
If you’d like to get the most out of an evaluation, it helps to have a few things ready:
A list of the updates you’ve done and roughly when (roof, windows, furnace, kitchen, bathrooms, flooring)
Any finished space, like a basement or an addition
Anything you know needs work, so there are no surprises later
What you’re thinking about doing next, whether that’s selling this year, next spring, or just getting an idea
None of this has to be perfect. I’ll fill in the rest when I see the home.
Online estimates are fine if you’re curious. But if you’re thinking about selling, refinancing, or planning your next move, you want a number based on your actual home, not a formula.
My Free Home Evaluation is quick, there’s no pressure, and you’ll know exactly where you stand.
