Lynn's Blog

Why it’s important to know the value of your Nanaimo home

Are you among the ninety-five percent of Canadian homeowners who are unaware of the market value of their homes?

Countless Canadians diligently check the stock market every day—on TV, online and in print—but fail to take stock of an even weightier investment: their own home.

In order to assist my clients in determining the value of their Nanaimo homes, I supply them with a Comparative Market Analysis (CMA) .    As the name suggests a CMA compares your house with similar ones on the market in your neighbourhood during a specified time period.  This data, combined with the value of upgrades, will give you an accurate picture of your homes worth.

Remember, however, that your personalized CMA is a “snapshot” captured in time, while the real estate market constantly fluctuates; therefore, it’s a good idea to obtain a new one each year.

The CMA is the only market-based means of measuring value. When buying, selling or refinancing a home, a CMA is essential in setting price and in choosing advantageous timing. 

Still, there are numerous other reasons to run a CMA—to obtain a realistic picture of your net worth, to provide adequate replacement insurance, or to leverage your equity.

Are you looking for the right Realtor to help you navigate the complexities of the real estate market, all the while looking out for you and your money? Sound advice and guidance is just a phone call, text or email away. Call Lynn Donn at 250-802-7321

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