How to appraise your home in order to sell for the highest amount

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If you're thinking about selling your Toronto home and placing it on the open market, one of the first things you'll need to consider is the true property value.

The best information on pricing will come from your Realtor, as there is an abundance of homes for sale in Toronto, and he/she will have all the data to support current market value, although there are other resources available as well.

If you've decided to list your home with a Realtor, he or she should be familiar with housing sales in your area. Realtors have accurate sale prices of similar homes in your area so you can get an approximate figure. You need to get the price that you think is reasonable, but please keep in mind that you're asking price should be competitive in order to attract motivated buyers. (This is a link to help you in appraising your home)

Listing your home on your own is also the preferred choice of some people but this requires much more research, time and effort in order to set the best price.

If a similar home has sold in your neighbourhood you can get an estimated idea of your house's worth. Many neighbourhoods built by developers are filled with homes that are, with a few cosmetic exceptions, the same. If a property has sold there are a few ways of finding out. The easiest way and one method that seem to work are to befriend the owner and speak to them. Another way is to talk to your Realtor.

Real estate ads may have similar homes to yours for sale and that is another way of getting price estimates. This quickly gives you a ball park number to work with, although there may be some variations between neighbourhoods and the advertisement may not have all the information you need to accurately compare your home. The best advice is to speak and interview 3 to 4 Realtors and have them determine your home's value and also have them explain how they plan on marketing the property in order to sell it within your timeline and most importantly selling it for top dollar.
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