What is Your Home Worth: Getting Appraisals

Thinking of selling or just planning renovations — your home’s market value matters. 

Get a professional property appraisal whether you just want to know ‘what is my home worth?’ or are getting appraisals for a construction mortgage. 

Accredited appraisers use market research and a visual inspection to give you an independent opinion you can take to the bank. 

Quick Read

How do I find out what my house is worth? 

How long does a home appraisal take?

4 good reasons to get home appraisals

How often do home values change?

What does a home appraisal cost?

Refinance your mortgage to upgrade your home. 

Woman computing the value of her home

Find the Value of Your Home

Investments you make in renovating your home can add value or not. A professional home appraiser estimates whether the updates you have planned are worthwhile. They show you how to find the value of your home in changing real estate markets. They may even suggest improvements you have not considered. 

But that’s not the only reason to spend time (under an hour to inspect plus preparation) getting appraisals. Here are four practical reasons to hire a Certified Canadian Residential Appraiser™ (CRA) or Accredited Appraiser Canadian Institute™ (AACI). Find an Ontario appraiser.

4 More Reasons for Getting Appraisals


1. Plan estate assets.

Before you sit down with Axess Law Wills and estates lawyers to draft your last Will and testament, find out what your home is worth. You can make better decisions about how to divide your assets fairly by getting appraisals of the current market value of the property you own.

2. Apply for reverse or private mortgage.

Reverse mortgages give you money for everyday living expenses by borrowing against the value of your home. Specialized lenders base their mortgage decisions on how much your house, townhome, or condo will be worth after you die or if you sell earlier. Getting appraisals arms you to start the negotiations. Private mortgage rules in Ontario when your credit score needs work.   

3. Getting appraisals during separation or divorce.

Separation agreements can call on you to contribute child or spousal support (alimony). Proving your monthly income and expenses enables Ontario family courts to establish how much support you owe. When a divorce follows separation, getting appraisals can determine the value of your home for settlement purposes.

How do you find out how much a house is worth in Canada for a divorce settlement? Axess Law drafts or can review separation agreements and calculates support payments based on your financial disclosures. Bring your home appraisal to discuss your family law needs.

4. Property tax assessment appeals.

Ontario’s Municipal Act, 2001 gives you the right to file a request to appeal a local property tax assessment. Axess Law’s notary public witnesses, sign, stamp, seal, or certify statutory declarations or affidavits you may be legally required to submit. Getting appraisals can help make your case.

Buying a new construction home.

What Home Appraisers Look At

Your appraiser will inspect, photograph, and record your home’s interior and exterior features and outbuildings like garages. The estimated value will be compared to market trends in your area and properties like yours. You receive a professional appraisal report after the valuation is complete, usually in under two weeks.

Your home’s value changes as it ages and as home trends evolve. Home appraisers look at the quality and condition of finishings and fixtures like kitchen appliances, paint, and flooring. What lowers a home appraisal are kitchen or bathroom cabinets, faucets, and countertops that have long since gone out of style. Having outdated doors, windows, HVAC (heat, ventilation, and air conditioning) systems, or electrical wiring also hurts a home appraisal.

How an 80-year-old bungalow was transformed

What Home Appraisals Cost

House appraisals in Ontario average between $350 and $700. The cost varies by your home’s size and location. Multi-unit homes like duplexes or houses with secondary suites are more expensive, as are luxury properties. 

A client and lawyer discussing appraisals

Why You Need a Real Estate Lawyer

Copy Axess Law on your up-to-date property appraisal when you refinance mortgages pre-construction for renovations or invite offers to purchase. Your appraisal makes a difference in:

  • how much you qualify for from mortgage lenders
  • if you have to make up the difference between your mortgage eligibility and  construction spend
  • and deciding if a potential buyer is low balling you.

Refinancing Your Mortgage

Axess Law’s real estate refinance lawyers liaise with private mortgage lenders, banks, trust companies, or credit unions when you add to or refinance mortgages.

Mortgage appraisals determine how much you can borrow to:

  • refinance a mortgage when interest rates are higher
  • increase your mortgage amount to fund renovations
  • take a dream vacation
  • or pursue higher education. 

Axess Law prepares the statement of adjustments and advises on any difference you may owe your lender between what you are qualified to borrow and the mortgage amount. 

Do I need a lawyer to refinance my mortgage in Ontario?

Selling a home in an estate

Selling Your Home

Signing an agreement of purchase and sale is legally binding on seller and buyer. Our real estate lawyers review offers to purchase to ensure the wording doesn’t disadvantage you as seller. We add in clauses or conditions to prevent your sale from collapsing due to confusing language or legal technicalities you may not know about. 

Our licensed real estate attorneys can negotiate with a buyer’s lawyer if:

  • a home inspection reveals problems the buyer expects you to repair
  • the buyer requests a price reduction
  • you get a better offer you’d rather accept
  • the buyer can’t close on time because financing fell through
  • your home is damaged by wind or floods after an offer is made.  

If a real estate deal falls through, who gets the deposit

Affordable Legal Services, Anywhere in Ontario

Access lawyers for less in the Greater Toronto Area, Ottawa, or anywhere in Ontario when you buy, sell, or transfer property. Axess Law’s flat fee real estate lawyers are affordable, and our rates are all-inclusive (excluding taxes, disbursements, and third-party charges). Axess Law offers you only the legal services you absolutely need. Your final invoice includes no surprises or hidden charges. Your itemized statement of adjustments is explained when we deliver it, and we answer any questions you have about it.

Using Our Virtual Lawyer Services 

No need to leave home or office — we can arrange virtual real estate closings. Axess Law’s remote video conferencing software is private and confidential. Sign and get documents witnessed using our secure online services for all your real estate transactions. Call us today to make an appointment. 

Book Online or By Phone

Arranging a meeting is as easy as using our online booking form or picking up the phone. Dial toll-free 877-552-9377 or call our 647-479-0118 lawyer line for a list of Axess Law offices open 7 days a week. We have day or evening appointments, to suit your schedule. 

Check out our onsite parking or get here by bus. Transit access is easy.