Guides
Guides to home value, equity and assessments
Plain-language Canadian guides: what an appraisal is versus an assessment or an online estimate, how much equity you can take out, what to do if an appraisal comes in low, refinancing and the stress test, and property-tax assessment appeals in every province.
Value
Appraisal vs assessment vs AVM: why your home has three valuesA home appraisal, a property tax assessment and an automated valuation (AVM) answer different questions, use different dates and rules. Which one a lender uses, and why.Read →How much does a home appraisal cost in Canada?What a home appraisal costs in Canada, who pays and why the price varies. CMHC's figure ($250–$350) is undated; the AIC says it's a flat fee by complexity.Read →What is a home revaluation, and when does it happen?Your home is revalued when a lender orders an appraisal, the assessor issues a new roll, or an AVM refreshes. When each happens in Canada, and what it changes.Read →Reading your assessment notice: assessed value vs market valueHow to read a Canadian property assessment notice: the valuation date, assessed vs market value, and how to tell if yours is out of line with similar homes.Read →Renovations and your appraised value: what actually adds equityWhich renovations raise appraised value, how appraisers treat them, and the insured refinance (up to 90%) for adding a secondary suite since January 15, 2025.Read →
Borrowing against it
How much equity can I take out of my home?In Canada you can usually borrow up to 80% of your appraised value minus what you owe; a HELOC can be at most 65%. Worked tables, stress test, penalties.Read →How to challenge a low home appraisalWhat to do when a home appraisal comes in low in Canada: ask the lender to reconsider with better comparables, restructure, and the limits of AIC complaints.Read →Why lenders revalue your home before they lendWhy Canadian lenders appraise or use an AVM before a refinance or HELOC: OSFI B-20 valuation expectations, appraiser independence and the 80%/65% limits.Read →Renewal and switching: when a new appraisal or stress test appliesDoes renewal or switching lenders trigger a new appraisal or the stress test? OSFI exempts straight switches from the qualifying rate; adding money is a refinance.Read →Refinancing gaps: why the equity you see isn't the equity you getThe four gaps that block a Canadian refinance: value (80% limit), income (stress test), penalty and credit. How to spot yours and the fixes for each.Read →The stress test on a refinance or HELOCHow the stress test applies when you refinance or open a HELOC: qualify at the greater of your rate + 2 or 5.25%, GDS 39% and TDS 44%. Income tables, worked.Read →
Market and rates
Property assessments compared across Canadian citiesToronto, Vancouver, Calgary, Montréal, Winnipeg, Halifax and more: who assesses, the valuation date, the appeal deadline and fee in each city, from official pages.Read →Interest rates and refinancing: what the Bank of Canada data saysBank of Canada data for refinancing decisions: policy rate 2.50% (2026-10-29), 5-year posted 6.19%, new uninsured 5-year+ fixed 4.58%. What they mean for equity take-out.Read →Appraisals in a shifting market: how much cushion your plan needsHow a shifting housing market changes appraisals and refinance room in Canada: OSFI's extra caution in fast-rising markets, and how much cushion your plan needs.Read →Using a house price index to adjust a value between datesHow to use a house price index to move a value between dates: adjust an old assessment or a comparable sale to the valuation date. Uses and limits.Read →
Assessment appeals by province
OntarioMarch 31 of the tax year for the annual notice (the date printed on your notice)Read →British ColumbiaJanuary 31 (extended to February 2, 2026 because January 31 fell on a weekend)Read →AlbertaCalgary: within the 67-day review period after the notice is mailedRead →SaskatchewanSaskatoon 2026: January 5 to February 6, 2026Read →ManitobaWinnipeg: June 4 (8:30 a.m.) to June 29, 2026 (4:30 p.m. CT), no late applicationsRead →QuebecBefore May 1 of the roll's first year (May 1, 2026 for the current Montréal roll), or 60 days after a modification noticeRead →New Brunswick30 days from the notice's mailing date (February 18 for the 2026 notices)Read →Nova Scotia31 days from the date on your notice (February 12, 2026 for the January 12 mailing)Read →Prince Edward Island90 days from the mailing of the Notice of AssessmentRead →Newfoundland and Labrador60 days from the date of the noticeRead →