Will my home appraise at the value I need?
A lender's appraiser values your home mainly by comparing it with recent sales of similar homes nearby, adjusted for differences. Before you pay for an appraisal, line up three to six recent sold prices yourself: if most of them, scaled to your home's size, reach the value your plan needs, you're likely fine; if the median falls short, plan for a lower figure.
Will my home appraise at the value I need?
Enter recent sales of similar homes nearby. We line them up against your size and the value your plan needs. Your numbers, your evidence; we don't estimate your home's value.
- Value your plan needs
- $780,000
- Sales that reach it
- 2 of 3
- Gap (median − needed)
- $3,816
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Your comparables suggest about $783,816 at your size; 2 of 3 reach the $780,000 you need.
Show the numbers
| At your size | Needed | |
|---|---|---|
| Sale 1 | $784K | $780K |
| Sale 2 | $803K | $780K |
| Sale 3 | $768K | $780K |
Assumptions & sources
Assumptions
- Each sale is converted to price per square foot and applied to your size; the median is shown with the range.
- Use sales of similar homes (type, age, condition) close by, sold within the last few months. Listing prices don't count; appraisers use sold prices.
- The figures come from you. Revalued.ca doesn't estimate the value of any property.
Sources
- Appraisal Institute of Canada — What appraisers do (AACI, CRA designations; three approaches). Checked .
- Appraisal Institute of Canada — For residential property owners (who pays, CUSPAP). Checked .
- OSFI — Guideline B-20: Residential mortgage underwriting (HELOC 65%, appraisals, AVMs) (effective October 31, 2017). Checked .
- CMHC — Your home value (appraisal shortfalls) (effective March 31, 2018). Checked .
How this tool works
Each sale is converted to price per square foot and applied to your home's finished size; the tool reports the median and the range and counts how many sales reach the value your plan needs (the figure from the equity calculator). It's a first check, not an appraisal: appraisers following CUSPAP adjust each comparable for lot, condition, age, garage, basement and location, and may use the cost or income approach too.
Revalued.ca never estimates the value of a specific property. The sales and the size are yours; the tool only arranges them.
Frequently asked questions
How do appraisers value a home in Canada?
Mainly with the direct comparison approach: recent sales of similar nearby homes, adjusted for differences. The Appraisal Institute of Canada also lists the cost and income approaches. AIC members must follow CUSPAP.
What if my comparables come in below what I need?
Plan for it before the appraisal: borrow less, use a HELOC (it needs a lower value for the same cash in some cases), or gather better comparables. If the appraisal does come in low, see our guide to challenging a low appraisal.
Primary sources
- Appraisal Institute of Canada — What appraisers do (AACI, CRA designations; three approaches). Checked .
- Appraisal Institute of Canada — For residential property owners (who pays, CUSPAP). Checked .
- OSFI — Guideline B-20: Residential mortgage underwriting (HELOC 65%, appraisals, AVMs) (effective October 31, 2017). Checked .
- CMHC — Your home value (appraisal shortfalls) (effective March 31, 2018). Checked .