What Is My Home Worth?

The most significant factor relating to value is location, however, the basic contributors are square footage, condition, and amenities. Other than that, every home has features that either increase or decrease value and they must be evaluated on their own merits.

Location is so critical because it contributes so significantly to supply and demand. The more people that want to live in that particular area, the higher the demand and usually the lower the supply. That affects price.

Size, condition and features also contribute to value however location will often trump a certain amount of size or features. “Where” people want to live for reasons of proximity to schools, work and transportation, convenience, being close to friends, is a powerful motivator.

Ultimately the value of a property is what the buyer is willing to pay, for whatever their reasons are. It is often an emotional rather than rational decision.

Your Realtor should provide you with sufficient information to establish fair market value.

Property Assessment Appeal Board
www.assessmentappeal.bc.ca

The Board resolves appeals filed from the decisions of the Property Assessment Review Panels and appeals filed under the Forest land Reserve Act. Its purpose is to receive, validate and resolve appeals in a just, consistent, timely and cost efficient manner. The website offers complete information and instructions for filing assessment appeals.