Tag Archive for: appraisals

Home Appraisal for Divorce

Home Appraisal in Divorce: What Every Homeowner Should Understand

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The Importance of Getting a Fair House Appraisal for Divorce

A home appraisal in divorce is essential when you and your spouse need a clear, impartial number to support a fair division of property. The family home is often the largest shared asset, and relying on online estimates or informal opinions can lead to costly disagreements. A certified appraisal establishes the current market value in an objective, legally credible, and practical manner for negotiations or court submissions. For couples in Southern and Central Vancouver Island, including Victoria, Nanaimo, and the Gulf Islands, selecting a local firm with in-depth market knowledge ensures your home’s value accurately reflects the local market conditions.

Key Takeaways

  • A certified home appraisal provides an unbiased assessment of market value, supporting a fair division of assets.
  • Courts and mediators rely on professional reports that meet Canadian appraisal standards and are prepared by members of the Appraisal Institute of Canada.
  • A house appraisal for divorce is critical for buyouts, legal settlements, and court requirements.
  • Retrospective valuations can establish property value as of the separation date or prior to significant post-separation improvements.
  • Local market expertise enhances accuracy and ensures the appraisal accurately reflects the local market.

Why an Appraisal Matters During Divorce

During separation, emotions can complicate financial decisions. A home appraisal for divorce brings clarity by focusing on comparable sales, neighbourhood trends, property conditions, and current listings. With a professional report in hand, both homeowners can negotiate from a common foundation, which reduces the likelihood of conflict and shortens the time to reach an agreement. Because the real estate market is constantly evolving, an independent appraisal ensures that decisions are made using current, local data rather than estimates.

How a House Appraisal for Divorce Works

Your appraiser inspects the property, reviews recent sales of similar homes, considers market direction, and evaluates unique features or deferred maintenance. The result is a detailed, written report that explains the methods used, the comparable properties analyzed, the adjustments made, and the final opinion of value. For divorcing couples, the report is formatted so that lawyers, mediators, lenders, and the court can understand the rationale and adopt it as a credible basis for settlement discussions.

When an Independent Valuation Becomes Essential

There are several common moments in a divorce when an independent home appraisal becomes essential. 

  • If one homeowner wants to keep the home and buy out the other, the appraisal supports a fair buyout figure. 
  • If there is disagreement about the property’s worth, a neutral valuation helps focus the dispute on the facts. Courts may also require professional documentation to advance the proceedings. 
  • For situations where the separation occurred months or years earlier, a retrospective valuation can determine the value as of the separation date, excluding the effect of significant improvements completed after the separation, so that both parties are treated fairly. 

Special Situations That Affect Value

Some divorces involve properties that earned rental income before or after separation. In such cases, an accurate valuation aids in tax planning and capital gains considerations. You may need a current valuation and a second retrospective valuation to align with the date when rental income began.

Working with an appraiser who understands the local market history is especially valuable in these scenarios, since long-running trends can influence the numbers. 

What to Expect in the Report

A well-prepared home appraisal in a divorce report clearly explains:

  • The scope of work
  • Describes the property
  • Details the data sources and comparable sales
  • Presents a well-reasoned value conclusion

The document stands on its own, with transparent reasoning and attachments that support the figures presented.

Lawyers and mediators appreciate reports that meet professional standards, because they can be submitted to the court when needed without rework or delay. The clarity of the analysis reduces the chance of later challenges and gives both spouses confidence in the outcome. 

Protecting Both Parties Through an Unbiased Evaluation

Dividing a family property and assets is a complex process. At D. Fritz Appraisals, we’re here to ensure you have the information you need about your home’s value to come to a fair and amicable agreement.

Instead of debating a price range pulled from online tools or neighbourhood chatter, you both rely on a professionally supported value. The neutrality of the report helps negotiations stay focused on solutions, such as buyouts or timelines for sale, rather than on disputes about price. That objectivity is why courts and lenders continue to rely on certified appraisers for matters involving divorce settlements. 

Frequently Asked Questions

  • Can A Home Appraisal Be Backdated To The Separation Date?
    Yes. This is known as a retrospective appraisal, which establishes the property’s value as of the legal date of separation. It’s often required for court or settlement purposes when the divorce process takes place months or even years after separation.
  • Is One Appraisal Enough If My Spouse Disagrees With The Value?
    If there’s a dispute, both parties may order their own appraisals. However, courts typically prefer when a single independent certified appraisal is agreed upon, as this reduces conflict and costs.
  • What’s The Difference Between A Market Valuation And An Appraisal For Divorce?
    A market valuation from a realtor provides an estimate of what the home could sell for, but it is not considered legal evidence in divorce proceedings. A certified appraisal produces a formal report that meets Canadian standards and is accepted by the courts.

Ensuring Fairness in Property Division

A home appraisal in divorce gives you and your spouse a reliable number that supports fair decisions and reduces conflict. At D. Fritz Appraisals, we understand how important it is to receive a fast and accurate appraisal of your family property, so you can focus on moving forward. 

All appraisers at D. Fritz Appraisals are certified with the Appraisal Institute of Canada (AIC) and professionally insured for liability according to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), providing peace of mind that your appraisal is accurate, impartial, and professionally prepared. When you are ready to move forward, reach out to D. Fritz Appraisals to book your professional appraisal and take the next step toward a fair settlement.

Estate Planning Mistakes

Estate Planning Mistakes Property Owners Can’t Afford to Make

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Common Property Valuation Pitfalls That Threaten Estate Plans

Estate planning requires careful property valuation to ensure your assets transfer smoothly to your beneficiaries. You’ve worked hard to build your wealth, but a few common mistakes can harm even the most thoughtful estate plan. Incorrect property assessments often lead to family disputes, unfair distributions, and unexpected tax burdens that could have been avoided. What valuation errors might you be making right now that could put your legacy at risk?

Key Takeaways

  • Using old property valuations leads to wrong estate sharing and possible tax problems, including higher probate fees.
  • Failing to account for future market changes can lead to unfair distributions among your heirs over time.
  • Missing information, like structural problems or shoreline erosion, can throw off your valuation.
  • Overlooking the tax effects of property transfers can greatly reduce the value your heirs receive, especially concerning capital gains on non-principal residences.
  • Not seeking advice from qualified professionals for both appraisals and legal/tax planning.

Relying on Outdated Property Valuations

When planning your estate, using outdated property valuations can create major problems for your beneficiaries. Vancouver Island’s real estate market changes all the time, and values from just a year ago might not match today’s market.

Effective estate planning in BC requires current appraisals that accurately reflect your property’s value. Old valuations can lead to tax errors, unfair asset distribution, and potential friction among heirs.

Your estate might face unnecessary probate delays or increased probate fees if government assessments are very different from your documented values. In British Columbia, probate fees are calculated based on the gross value of the estate, so an accurate, up-to-date appraisal is crucial to avoid overpayment.

We suggest updating your property appraisals every 1-2 years, or whenever significant market changes occur. Professional appraisals provide the accurate documentation needed for proper estate administration and help prevent disputes among beneficiaries. Proper documentation ensures your estate plan accurately reflects current market values and your legacy is distributed according to your wishes, without complications for your loved ones.

Neglecting to Consider Future Market Trends

Although current valuations are crucial, overlooking future market trends can significantly undermine your estate planning efforts. The real estate market from Victoria to Nanaimo and beyond isn’t static, and your estate plan shouldn’t be either.

When you’re planning for property distribution, don’t just look at today’s numbers. Consider development proposals in neighbouring areas, infrastructure projects, and demographic shifts that could impact values in 5-10 years. Vancouver Island’s limited geography means potential growth areas command premium future values.

Many property owners mistakenly focus exclusively on current appraisals without considering projected market direction and how it might influence their decision to sell or hold onto the property. 

Overlooking Property-Specific Depreciation Factors

Property owners often overlook specific depreciation factors that can significantly impact the estate valuation of their property. When planning your estate, don’t ignore issues like delayed maintenance, outdated systems, or structural problems that can seriously lower your property’s value.

On Vancouver Island, factors such as coastal erosion, saltwater exposure, and the wear and tear on certain building materials require careful review.

You’re not helping your heirs by overestimating property worth based just on neighbourhood comparables.

Professional appraisers can identify these commonly overlooked depreciation elements that could impact your estate planning outcomes. A comprehensive value-added improvements assessment can help determine if renovations are worth pursuing before finalizing your estate plans.

Disregarding Tax Implications Associated With Property Transfers

When planning your estate, overlooking the tax implications associated with property transfers can lead to costly consequences for your heirs. Different transfer methods trigger various tax events, from capital gains on non-principal residences to probate fees that can greatly reduce the value of your legacy.

Upon a person’s passing in Canada, the Canada Revenue Agency (CRA) generally considers all capital assets (real estate, investments, etc.) to be “deemed disposed” at their fair market value immediately before death. This means that any increase in value (capital gain) from when the property was acquired until the date of death can trigger capital gains tax, which is paid by the estate. The significant exception to this rule is the deceased’s principal residence, which is typically exempt from capital gains tax.

However, for investment properties, recreational properties (cottages), or other secondary residences, these capital gains can represent a substantial tax liability for the estate. Additionally, British Columbia levies probate fees (also known as estate administration tax) on the gross value of the estate. Accurate and current property valuations ensure the correct amount is paid, avoiding overpayments or delays.

Don’t assume property values at the time of estate planning will remain static. Market changes can dramatically alter your tax liability picture.

Frequently Asked Questions

  • How Do Seasonal Market Fluctuations Affect Estate Property Valuations?
    Seasonal market fluctuations can significantly impact the value of your property. Summer often brings higher prices, while winter markets typically slow down. You’ll want to consider timing when planning your estate property valuations. It’s worth noting these patterns to optimize your property’s assessed value and navigate the Canadian real estate cycle with confidence.
  • How Does Rental Income Potential Influence Estate Planning?
    It boosts your property’s value, creates revenue streams for your beneficiaries, and can make some properties better inheritance assets than others. When planning your estate, properties that generate ongoing income might be more helpful for your heirs. A steady cash flow helps cover maintenance costs and taxes after you’re gone. Canadian tax rules around rental properties and inheritances are unique, so talking with a local financial advisor about maximizing these benefits makes good sense.
  • Can Family Members Provide Reliable Property Valuations for Estates?
    Family members typically aren’t the best choice for valuing estate properties. They usually lack the professional training needed and may be too emotionally invested in the property to provide a fair assessment. They could also have personal interests that affect their judgment. It’s smarter to hire professional appraisers who can provide neutral, legally acceptable valuations that withstand scrutiny.

Securing Your Legacy with Accurate Estate Planning Valuations

Don’t let your estate plan fall victim to these common evaluation mistakes. You’ll serve your heirs better by using valuations based on current market trends that  account for depreciation and future market conditions. 

Consult a professional appraiser like D. Fritz Appraisals to help you understand the tax implications associated with inheriting a house. Our appraisers have professional liability insurance in accordance with the Canadian Uniform Standards of Professional Appraisal Practice and the Appraisal Institute of Canada. 

When you take these precautions, you ensure a smoother transfer of assets and help prevent disputes among beneficiaries. A thoughtful property evaluation today creates peace of mind for tomorrow. Contact us today to discuss your estate appraisal needs and ensure your legacy is protected.

How to Improve Curb Appeal

How to Improve Curb Appeal: What Appraisers Notice

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Improving Curb Appeal to Improve Home Value

First impressions matter—especially when it comes to your home’s appraisal—and knowing how to improve curb appeal can make all the difference. During the summer months, your property’s exterior becomes even more noticeable to appraisers. By focusing on specific elements that professionals look for, you can enhance your home’s curb appeal and potentially increase its appraised value.

Key Takeaways

  • Well-maintained landscaping with fresh mulch and seasonal flowers significantly improves curb appeal and appraiser impressions
  • Clean, damage-free exteriors can significantly improve your property’s appraised value
  • A welcoming entryway with updated hardware and appropriate lighting creates a positive first impression
  • Functional outdoor living spaces add value and appeal to potential buyers
  • Regular maintenance of driveways, walkways, and lawns demonstrates care for your property

Improve Your Curb Appeal with Landscaping and Garden Maintenance

Investing time in landscaping and garden maintenance doesn’t just enhance visual appeal—it can add meaningful value to your property. Well-maintained landscaping is consistently recognized as one of the top improvements that can increase your home’s market value, making it a worthwhile consideration when improving curb appeal.

Regular lawn care, including mowing, watering, and weeding, creates a neat appearance that appraisers notice during evaluations. Trimming overgrown shrubs and trees not only enhances visual appeal but also eliminates potential safety concerns.

Adding fresh mulch to garden beds provides a polished finish to your outdoor spaces. Including seasonal flowers and native plants enhances curb appeal while reducing maintenance requirements, making your property more attractive to both appraisers and potential buyers. Understanding which improvements add the most value can help guide your landscaping decisions.

Exterior Home Condition and Its Impact on Curb Appeal

Your home’s exterior condition significantly influences appraiser perceptions. A well-maintained exterior creates curb appeal that resonates with both appraisers and potential buyers.

Neglected maintenance issues, such as peeling paint or roof damage, can significantly decrease your appraised value. Conversely, clean siding and a well-kept yard can lead to a noticeably higher home appraisal. Appraisers particularly notice structural integrity, making roof and siding maintenance essential. Additionally, accurate property valuation becomes especially important during challenging circumstances, particularly with jointly-owned homes during separation or divorce.

Regular maintenance activities like power washing and fresh paint not only enhance curb appeal but also create positive impressions that can lead to higher appraisals.

Entryway Upgrades That Improve Curb Appeal

Your entryway serves as the introduction to your home, making it crucial to make a good impression. A clean, welcoming entrance creates a positive first impression that influences overall curb appeal assessment.

Consider refreshing your front door with a new coat of paint in a complementary colour. This relatively inexpensive improvement can significantly improve curb appeal.

Well-maintained hardware, including doorknobs and handles, demonstrates attention to maintenance details and improves aesthetic appeal. Adding warmth through strategically placed potted plants or seasonal decorations creates an inviting atmosphere for both appraisers and potential buyers.

Proper lighting improves safety while highlighting your home’s features during evening hours, positively affecting appraisal outcomes.

Improve Curb Appeal with Outdoor Living Areas

Thoughtfully designed outdoor living spaces can substantially enhance your property’s curb appeal and value. Appraisers look for well-defined areas such as patios, decks, and porches that add functional space and aesthetic appeal.

Creating comfortable seating areas, outdoor dining options, and incorporating decorative elements transforms your yard into an attractive extension of living space that appeals to potential buyers. Features like fire pits, outdoor kitchens, or pergolas not only elevate your outdoor areas but also reflect contemporary living trends valued by many purchasers.

Maintaining these spaces through regular cleaning and seasonal updates is essential, as appraisers evaluate both condition and appeal during their assessment.

Cleanliness and Tidiness to Improve Curb Appeal in Your Neighbourhood

Though seemingly minor, cleanliness and tidiness significantly impact an appraiser’s first impression of your property. A well-maintained exterior demonstrates property care that can influence valuation.

Maintaining a neat front yard without excessive decorations or items allows appraisers to focus on your home’s actual features. Clean windows and freshly painted doors further enhance curb appeal, potentially contributing to higher appraised values.

Your attention to these details will likely yield benefits during the appraisal process.

Frequently Asked Questions

How Can I Enhance My Driveway’s Curb Appeal Before an Appraisal?

To improve driveway appeal before an appraisal, thoroughly clean the surface and repair any visible cracks or stains. Consider adding decorative borders or edging for visual interest. A well-maintained driveway creates positive first impressions for appraisers and potential buyers.

Do Seasonal Decorations Impact Curb Appeal?

Yes, tasteful seasonal decorations can enhance curb appeal. Select well-coordinated, appropriate decorative elements that draw attention and create a welcoming atmosphere. Maintain balance and avoid overcrowding for optimal effect.

How Much Does Landscaping Affect Home Value?

Landscaping significantly impacts home value. Well-maintained yards with thoughtfully selected plants and features substantially improve curb appeal, increasing property attractiveness to potential buyers. Investment in quality landscaping typically provides an excellent return when selling your home.

Are There Specific Plants That Appraisers Prefer?

Appraisers generally favour low-maintenance native plants suited to your region. Vibrant flowers and strategically placed shrubs enhance curb appeal and property attractiveness. Ensure your landscaping presents as tidy and inviting to create positive impressions during evaluation.

Making the Most of Your Property

Enhancing your home’s summer curb appeal creates a meaningful impact on appraiser impressions. Knowing how to improve your curb appeal—through landscaping maintenance, exterior condition, entryway presentation, and well-designed outdoor living spaces—helps showcase your property’s best features. Attention to cleanliness and overall tidiness demonstrates property care that resonates with appraisers. By addressing these key elements, you’ll not only attract potential buyers but also potentially increase your property’s appraised value. 

We’re proud to offer exceptional services for our clients. We tailor our appraisal reports to meet the requirements of each lender, providing accurate, timely and thorough valuations put together by our highly experienced professional team.

For more information or to schedule an appraisal, contact us today!

Sustainable Development Projects in British Columbia

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Sustainable Developments: Shaping British Columbia’s Future

British Columbia continues to lead Canada in sustainable innovation, reshaping how we build, live, and interact with our environment. Across the province, forward-thinking real estate and infrastructure projects are integrating green design, low-carbon technologies, and Indigenous partnerships to create communities that thrive both now and in the future.
From groundbreaking residential developments to neighbourhood-scale sustainability models, these projects show what’s possible when innovation meets environmental responsibility. At D. Fritz Appraisals, we’re seeing firsthand how these sustainable choices are beginning to shape real estate values and influence appraisal considerations across Vancouver Island and beyond.

1. Sen̓áḵw Development – Vancouver

The Sen̓áḵw Development is one of the most ambitious Indigenous-led urban developments in Canadian history. Located on Squamish Nation land near downtown Vancouver, this transformative project will deliver over 6,000 rental homes across 11 towers—some reaching up to 56 storeys—with approximately 1,200 units designated as affordable housing.
Designed with a strong focus on sustainability, Sen̓áḵw aims to be Canada’s first large-scale, net-zero operational carbon housing development. The project emphasizes dense, transit-oriented living and will include a new transit hub, nearly 4,500 bicycle stalls, and limited vehicle parking to encourage low-carbon transportation choices.

Image credit: Revery Architecture/Westbank/Squamish First Nation

Beyond energy efficiency and climate resilience, Sen̓áḵw represents a groundbreaking model of Indigenous economic development and land stewardship—proving that urban growth can align with cultural values and sustainability goals.

2. Dockside Green – Victoria

Dockside Green is one of the most recognized sustainable communities in North America. Located along Victoria’s Inner Harbour, it integrates LEED Platinum buildings, on-site wastewater treatment, a district energy system, and green roofs.
This long-term development also influences how sustainability factors are used in real estate evaluation. At D. Fritz Appraisals, we consider features like energy efficiency and location sustainability when assessing property value and long-term viability in emerging green neighbourhoods.

Image Courtesy of www.docksidegreen.com

3. Vienna House – Vancouver

Vienna House is a collaboration between the City of Vancouver and BC Housing that sets a new bar for affordable, sustainable housing. Built to Passive House standards using mass timber construction, the project dramatically reduces energy use while providing durable, long-lasting homes.
This model is setting new expectations for energy performance in multi-unit housing, an important consideration for appraisers evaluating similar future developments.

Photo Courtesy of ViennaHouse.ca

4. Evolve UBC – University Endowment Lands

Part of UBC’s Campus as a Living Lab initiative, Evolve is a Passive House, net-zero-ready development that provides housing for faculty and staff. Designed to cut operational emissions and support occupant well-being, the project uses advanced monitoring to track performance.

Image Courtesy of https://ubcproperties.com/project/evolve/

With increasing consumer and institutional demand for sustainable homes, developments like Evolve are shaping how the real estate industry, including real estate appraisers, understands the long-term market value of energy-efficient buildings.

5. Evergreen Terrace Redevelopment – Victoria

Victoria’s Evergreen Terrace Redevelopment (formerly BC Housing’s social housing site) is being reimagined as a mixed-income, sustainability-first community. It incorporates green design, increased density, and community-oriented planning.
As developments like this take shape, our appraisers work to capture the added value that sustainable design, improved livability, and walkability bring to urban residential spaces.

Image Courtesy of https://letstalkhousingbc.ca/victoria-evergreen-terrace

Making Smart Real Estate Decisions

At D. Fritz Appraisals, we understand that the real estate market is evolving, and sustainability is no longer just a bonus feature. Whether you’re buying, selling, or investing in a property, our expert appraisers take into account key factors like:

  • Energy efficiency and green certifications
  • Walkability and access to low-carbon transit
  • Sustainable building materials and design
  • Environmental resilience and long-term market appeal

By staying up to date on BC’s top sustainable developments, we help our clients make informed, future-focused real estate decisions across Vancouver Island and the Gulf Islands.

Frequently Asked Questions

What Makes British Columbia a Sustainability Leader?
BC’s leadership comes from its integration of green building policies, strong public support for climate action, and investment in long-term planning. Programs like CleanBC, the BC Energy Step Code, and municipal action plans make sustainability a cornerstone of development policy.

What Is the Most Innovative Sustainable Project in BC?
The Sen̓áḵw Development is among the most innovative—combining Indigenous leadership, clean energy, car-free living, and climate-smart design at a scale not seen elsewhere in Canada.

How Is Nature Integrated into BC’s Urban Planning?
Cities across BC are weaving nature into infrastructure through rain gardens, permeable pavements, green roofs, and urban forests. These features help manage water, cool cities, and create more livable communities.

Helping You Make the Right Investment

At D. Fritz Appraisals, we understand that buying, selling, or investing in real estate is one of life’s bigger decisions. That’s why we’re committed to providing you with the most accurate and reliable appraisal services across Victoria, lower Vancouver Island, and throughout the Gulf Islands.

As sustainability becomes a defining feature in the real estate market, having a clear understanding of how these innovations affect property values is more important than ever. Whether it’s a new net-zero home in a green neighbourhood or a commercial development prioritizing environmental performance, our team of certified appraisers brings over 40 years of local experience to help you assess real value—not just in the present but for the future.

If you’re looking to invest in Vancouver Island—home to some of the best places to live in BC—we’re here to support your decision-making with trusted insights and tailored evaluations. With our deep understanding of both traditional and evolving real estate factors, you can count on D. Fritz Appraisals to guide you confidently through BC’s dynamic property landscape.

Contact us today to get started—because smart decisions begin with the right appraisal.

community features

Property Appraisal Insights: 4 Community Features that Matter

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Analyzing Community Features That Impact Property Value

When deciding what adds value to a home, today’s savvy property owner thinks beyond an impressive house amenities list.  It may surprise you to discover exactly what things add value to a home in today’s competitive housing market.  Community features and neighbourhood amenities are topping the modern buyer’s wish list. With increasing real estate prices, property owners are demanding more.

Does a neighbourhood have sidewalks, mature trees, hiking trails or a dog park? Beyond the conveniences of a house, these community features should also be considered when assessing a property’s value.

As one of Victoria’s longest-standing appraisal firms, D. Fritz Appraisals Inc. can provide detailed valuations highlighting the community amenities to look for when buying or selling a property. 

Read on to learn about which community features have the most significant impact on property values. 

What Makes A Location Desirable?

Homes in major cities where land is scarce tend to hold more value than homes in smaller towns with room to grow and develop. With that in mind, it’s also important to note that homes on larger pieces of property tend to increase more in value over time.

Let’s break down the five components of a desirable location.

  1. Community Features – Does the neighbourhood have grocery stores, a reputable school, restaurants or cafes? These are just a few essential amenities that will help boost a home’s value.
  2. Future Development And City Plans – Maybe at this very moment, the chosen community doesn’t have all of the desired amenities, but often, the future city plan includes improvements and more amenities down the road. Hospitals, civic infrastructure, and public transportation are just a few development types that could be in the works and should be considered when determining current and future property values.  At D. Fritz, we can help you research which properties have the most potential to increase in value over time.
  3. Position – Is the home on a busy road or near a loud commercial building? Is it exposed to transient traffic or popular community events? Homes in busy areas tend to be less expensive overall, and initially, their lower prices might be attractive. However, it’s wise to consider that the resale of homes in busier areas can be more difficult and lengthy. In contrast, homes purchased in quiet communities with mature trees and charming historic homes can often increase and maintain property value.
  4. Lot size – When deciding between two homes at similar price points, you need to consider where the value of a property comes from. For example, if a shiny new house on a small lot and a fixer-upper on a large lot are both on the market at a similar price, one should note that the land a house sits on will often hold the most value, making the home on the larger lot a better choice.
  5. Safety – Security measures foster trust and lower the risk of property damage. Gated communities with automatic gates or gates operated by security guards tend to have lower crime rates, which is attractive to potential buyers.

When considering what things add value to a home, we suggest including the following items on your checklist: Esthetics, Amenities, Plans For Expansion, Perceived Safety and Accessibility.

The Value Of Community Groups

Organized groups such as the Condominium Home Owner Association of BC can help maintain the character and appearance of buildings and neighbourhoods, adding value. Community groups are not just for condos. They exist in many areas, including single-family homes and townhouses. Some of the community features and benefits that an organized community group can offer include:

  • Neighbourhood watch
  • Clean-up programs
  • Amenities such as fitness centers and swimming pools
  • Maintenance, snow removal, and landscaping services
  • A platform for social events and activities
  • A mediator for disputes

While the limitations of a homeowner’s association may deter some buyers, a well-managed HOA can be an asset and help boost a home’s value.

How’s Your View?

It comes as no surprise that an unobstructed ocean view will increase property value. But did you know that even a low-quality ocean view can add significant returns to your investment? 

Lake, river, and mountain views are also in high demand. A nice view combined with community features such as water access, an impressive house amenities list or outdoor recreation opportunities become even more enticing to a future buyer.

Look for property information and trends at BC Assessment.

Parks And Playgrounds 

Neighbourhoods with clean, accessible green spaces for seniors, kids, families, and pet owners tend to be highly desirable, allowing all community members to safely access the outdoors. Parks impact communities in several positive ways:

Providing a Gathering Space

As more people spend money on their pets, homes near dog parks and walking trails have become a huge draw. In neighbourhoods with small or no yards, buyers will spend more to live near these community features. They provide the space for community members to congregate for everything from family picnics and birthday parties to school events. Want a space to play ultimate frisbee, stargaze, bird-watch and everything in between? Pick a neighbourhood with a park or playground.

Filter The Air

Mature trees do much more than filter the air. They supply oxygen, improve air quality, and provide shade and wildlife habitat. Well-landscaped, water-smart yards with defined outdoor spaces can boost curb appeal.

Encourage Movement

Walkability scores are now commonplace in real estate listings and are a new factor for evaluating properties. Homes in walkable neighbourhoods with desirable community amenities usually have higher property values. Walking just twenty minutes per day can positively impact health and quality of life by lowering stress, boosting moods and increasing creativity.

With outdoor spaces in high demand, we should consider them as thoroughly as a house amenities list when determining which property has the most value.

D. Fritz Appraisals Inc. – Take The Guessing Out Of Valuing Property

D. Fritz Appraisals Inc. is your home for professional real estate appraisals for properties in Victoria to Nanaimo and the Gulf Islands of British Columbia.

Let our team of expert appraisers, certified by the Appraisal Institute of Canada, guide you in highlighting the community features you’re looking for with a comprehensive, accurate valuation.

With outstanding service dating back forty years, D. Fritz Appraisals Inc. can meet all your appraisal needs. Contact us today for a quote.

home appraisal cost

8 Home Appraisal Cost Factors in BC: What You Need to Know

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What Can Impact the Cost of a Home Appraisal

Whether you are buying, selling or looking to refinance your home, you will most likely need a home appraisal. 

While an appraisal fee is something you will need to add to your budget or closing costs, the good news is the cost of a home appraisal shouldn’t be a deal breaker.

A home appraisal is a key part of the financing portion of any new or refinanced mortgage or loan agreement. It is something most financial institutions will insist on before releasing funds.

It’s worth knowing that some factors can impact your final home appraisal costs. According to the Appraisal Institute of Canada, the house appraisal cost is generally determined by the complexity of the review and the length of time it takes to complete it. An appraisal fee is NOT determined by the declared value of the property being appraised.

Below, we’ll explore some of the factors that may cause your appraisal fee to be higher than average. Read on to find out why appraisals are important, who pays for them and how much you are likely to pay in British Columbia.

What is an Appraisal, and Who Pays for it?

A home appraisal is a legal document that determines fair market value for a property. The appraisal process includes an inspection of the property and research of comparable properties in the local area by a qualified professional.

Appraisals are not only important for the house-buying process, but they are also used for financial loans, property tax appeals and some legal processes.

During the home appraisal process, the appraiser reviews the structure of the property, including size, number of rooms, exterior amenities and the lot the property sits on, amongst other things. For more information on what a home appraisal inspection consists of and how value is determined, see our previous blog post – ‘Home Appraisals – What They Look For.’

Usually, the buyer will be responsible for the cost of home appraisal with the fee considered part of the closing costs. However, if the appraisal is for refinancing, the current owner will be required to pay. Occasionally, a seller will foot the bill if they are looking to incentivize the sale or demonstrate the potential for subdivision of the plot.

If you need to hire an appraiser, it is acceptable to get quotes from several appraisal companies, especially if you have a particularly large, unique or complex property. Look for a company like D. Fritz, with an experienced and qualified professional team of appraisers that is familiar with your community.

8 Home Appraisal Cost Factors

According to Nesto.ca, the average cost of a house appraisal in BC is usually in the region of $350 to $500 plus tax, though there are several reasons why your final fee may end up higher than that. Factors that can increase the final bill are generally related to the time and effort required to produce the appraisal report and include:

  1. Size of property – Generally, the more time an appraisal takes the higher the cost can be, so it stands to reason that a larger property may result in a higher fee than a smaller one. For example, a 6,000 sqft home with a large garden will take longer to review than a 1,000 sqft condominium.

Equally, a multi-family property will cost more to appraise than a standard single-family home.

  1. Complexity/detail of property – A home with intricate architecture or an unusual layout will take longer to appraise and will have fewer market comparables to refer to. Generally, any additional time spent assessing complex homes will lead to an increased fee.
  2. Location – Easily accessible homes in residential communities are likely to cost less to appraise than those that are hard to reach. It is harder to find comparable recent sales for homes in more remote areas, so additional research may be required to conclude the correct valuation. Additional travel expenses may also be added if the home is outside the appraiser’s usual area.
  3. Season – Luckily it doesn’t snow too often on Vancouver Island, but severe weather or heavy snow can increase the time it takes to perform an appraisal and therefore impact the cost. 
  4. Condition of the home – If the house has any structural issues, obvious signs of damage or disrepair or is extremely cluttered, it will take longer to perform the appraisal than it would in a well-kept property. 
  5. Unique features – Is the property on the waterfront with a dock attached? Does the land have subdivision potential or is the home designated a heritage property? Any ‘out of the ordinary’ homes may take longer to review and compare to ensure the final report is accurate potentially resulting in a higher fee.
  6. Additions and upgrades since previous appraisal – If significant additions, such as an extension, home lift or creation of a legal suite, have taken place since the property was last appraised, it will take longer to assess. This is because the appraiser has to inspect any upgrades thoroughly to determine their impact on the final valuation.
  7. Short notice requests – Sometimes appraisals are needed very quickly to accommodate an urgent purchase and avoid closing delays. Some appraisers may charge an additional fee for short notice or fast turnaround reports.

How to Minimize Additional Costs for Home Appraisals

There are some things you can do to help your appraiser complete a timely assessment and reduce the chances of additional fees. For example:

  • Plan ahead – but not too far. Plan early enough that you avoid rush fees and have time to shop around for your appraiser. But remember, an appraisal report is only considered to be accurate for about 3 months, so don’t do it too soon and risk having to get it re-done.
  • Be prepared – As the homeowner, you can help make the appraisal process faster by providing all relevant and required information about the property at the start of the assessment.

D. Fritz for Appraisals in Victoria, BC

If you need an appraisal for a home in southern or central Vancouver Island, look no further than D. Fritz Appraisals Inc. Our experienced, professional team has over 40 years of experience in delivering expert appraisals throughout the area.

Whether you need an appraisal for a home purchase, re-financing or settling an estate or division of assets, our team will be glad to help. Call us today, and we’ll be glad to give you a quote for our appraisal service.

property tax appeal

Need a Property Tax Appeal?

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What to do When Your Property Tax Assessment Seems Too High

In early January each year, every home in British Columbia receives its property tax assessment notice through the mail from BC Assessment. Some property owners may be surprised and possibly even concerned with their home property assessment amount.

Between 2021 and 2022, house prices in BC rose by an average of 23.3% with the increase even steeper in Victoria.  With BC Assessments predicting that property assessments will rise between 5% and 15% for 2023, it’s no wonder homeowners are concerned about how these cumulative increases will affect their BC tax assessment.

The good news is, if you think your BC Property Tax assessment is too high, there is an appeals process that you can follow.

Read on for more about how your property tax assessment is calculated, what to do if you think your assessment is too high and how a professional appraisal company can help you with your appeal.

How Do BC Property Tax Assessments Work?

Every year, BC Assessment creates property tax assessments for over 2 million homes in BC. These assessments provide a valuation of each property as of July 1st in the previous year (So 2023 tax assessments are based on the value of homes on July 1st, 2022).

These assessments are used by local municipalities to calculate your annual property taxes. While the actual dollar valuation of the property is not the basis for your tax bill (i.e. an increase in property value doesn’t always mean an increase in taxes), if you’ve seen a larger-than-average increase (based on the average change in home values within your community), your bill could be affected.

BC property tax assessments are calculated using a variety of information sources, including:

  • Land title
  • Real estate transactions
  • Aerial and street view imagery
  • Building permits
  • Property visits

BC Assessment’s team of appraisers take this information and look at it alongside property market data from July 1st. Sales of comparable homes in the local area are analyzed along with specific features of each home to establish market value.

Things that may affect your BC Assessment valuation include:

  • Type of property
  • Location
  • View
  • Size of home in square feet
  • Number of rooms
  • Any recent additions / improvements
  • Age of home
  • Garages / carports / decks
  • Comparable sales prices

Did You Know? Changes to land zoning could impact your assessment. However, if you have owned and occupied your residential property for over 10 years, the valuation must remain based on current use, not potential use of the land. Therefore, any potential development due to zoning changes would not be valued. 

How to Appeal Your Property Tax Assessment

In their 2021 Annual Report, BC Assessment notes it received 4,427 appeals that year, 10% of which were from Vancouver Island. According to the Times Colonist, this number is well below the approximately 20% of homeowners who should be appealing their property assessments each year.

If you think your property tax assessment is too high, there are some steps you should take to decide whether you should appeal.

  • First, use the online assessment search tool to see what other homes in your area, and homes comparable to yours, have been assessed at. The important thing to look at is the % increase. You may find that although your value has increased a lot, it is in line with the average for your area and so there is no case for appeal.
  • However, if you feel your home has increased significantly compared to your neighbours and other comparable homes, then you may have a case for appeal.
  • BC Assessment suggests anyone with concerns should contact them to have an informal discussion with an appraiser. If both sides agree a change is needed it can be done without having to go through a formal appeal process. 96% of cases were solved this way in 2021.
  • If following this initial discussion, you are still not satisfied with the assessment, you can lodge a formal appeal and request an independent review by the Property Assessment Review Panel (PARP). The PARP has the authority to investigate and adjudicate assessments and can make rulings to amend the issued assessment.

Remember: You must submit your appeal by January 31 – late appeal submissions will not be considered.

Once you have submitted your appeal:

  • Appeal hearings take place between February 1st and March 15th. You will receive a notice of hearing time and date. It is important you start to gather support information as soon as you submit your appeal. (See below).
  • PARP may issue a decision at the hearing or by April 7 at the latest.
  • If you remain unhappy with the decision of the PARP you may refer your appeal to the Property Assessment Appeal Board. The deadline for appeals to PAAB is April 30.

How to Prepare Your Supporting Evidence Package

One of the most important things to do after submitting an appeal is to prepare your supporting evidence package. At the PARP panel hearing, you will be given 6 to 10 minutes to present evidence to support your claim that the tax assessment is incorrect.

This evidence package should include:

  • Comparative properties
  • Evidence of real home sales in your neighbourhood 
  • Photographs of your home and comparable properties
  • Evidence of views, condition of the home and any damage requiring repair 

For more information on the appeals process and what to include in your appeal evidence see this useful guide.

How an Independent Appraiser Can Help Your Appeal

The key to a good property tax appeal package is to be concise and include relevant and clear information.

Not everyone has the time or ability to do this, but did you know you can get assistance from an independent qualified appraisal company to create your BC Assessment appeal package? Appraisers are experts in the local market and can pull together comparison information and an accurate valuation to support your appeal.

While an appraisal for the purpose of a property tax dispute is somewhat different to a regular appraisal, because it has to reflect the market as of the previous July, a good appraisal company will be able to help.

Get Support in Your Property Tax Dispute From D.Fritz Appraisals Inc 

At D Fritz Appraisals Inc, we have over 24 years of experience appraising homes in the Victoria, BC, region and consider ourselves to be experts on Vancouver Island housing market conditions.

Not sure whether you have a good case to appeal property tax assessment? For a nominal fee, D.Fritz offers a telephone or online consultation to offer direction on whether you should proceed with your appeal or not.

If you decide to go ahead with an appeal, contact us at D. Fritz as soon as possible to book a time to carry out your appraisal.

home appraiser

Home Appraisals – What Do They Look For?

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How Home Appraisers Decide on the Value of Your Property


There are many reasons you may need to know the value of your property and for this, you need a home appraisal.

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market.

Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. They are also used to assess the value of the home for home improvement loans and insurance evaluations.

Read on for more information about how a home appraiser determines the value of your property.

What is a Home Appraisal and Why is it Important?

A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property. Financial institutes or mortgage lenders will require an appraisal to ensure the home is worth the amount of money being requested in the loan or mortgage.

Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for:

What is Checked During a Home Appraisal?

There are two main parts to a Home Appraisal:

  • Inspection of the property
  • Research and analysis of comparable properties

Property inspection: As part of the appraisal process, your home appraiser will conduct an on-site inspection of the property. During this inspection they are looking at:

  • General characteristics of the home:
    • Size of home – square footage, number of rooms – especially bed and bathrooms
    • Functionality of design and layout
    • Any exterior amenities such as garage, deck, pool
    • Type of foundation
    • Whether a basement or attic are present and their state of finish

Note that appraisers are not looking for any signs of damage to the foundation, basement, attic or mechanical equipment – that would be done by a home inspector as part of the conditions of sale.

  • Quality assessment:
    • Current condition of internal and external aspects of the home – including material and state of walls, floors, roof, windows
    • Type and age of plumbing and other systems (condition would be determined during a home inspection)
  • Any improvements that have been made:
    • Updates to kitchens and bathrooms
    • New efficient heating and cooling systems
    • Recent replacement of major ticket items like windows / roof
    • Energy efficient features such as HVAC, energy star appliances

Note: Home appraisers only look at the fixed features of the home. They are not assessing décor or any feature that is considered removable.

  • Lot:
    • Size and topography of the lot
    • View (including negative views)
    • Vehicular access
    • Any existing easements or zoning issues
  • Location:
    • How well does the home fit in with the surrounding neighbourhood?
    • Local amenities – how close is the home to hospitals, schools, shops and public transport corridors?
    • Crime levels and general condition of the neighbourhood

Comparison to similar properties: As part of the research involved in a home appraisal report, the appraiser will compare the home with others that have recently sold that:

  • Are in the same or similar neighbourhood 
  • Have comparable features such as size, number of rooms, age

The appraiser will review the sale price of these similar homes and make adjustments to account for any differences between them and the home being appraised.

How Does a Home Appraiser Determine Value?

When compiling their final report, home appraisers will determine the final value using a combination of two out of these three methods:

  • Direct comparison: Value is determined by analyzing comparable properties.
  • Cost approach: Value is derived from the cost to replace or rebuild the property and its associated land minus any age-related depreciation.
  • Income approach: Value is determined based on the rental income potential – usually only used when the property is being purchased for this purpose as an investment property.

The final appraised value of your home may be affected, either positively or negatively, by:

  • The location of the home
  • Current real estate market conditions
  • Size of home and number of rooms
  • Zoning in the neighbourhood
  • Future potential for development of the home

Things that can negatively impact the value of your property in a home appraisal include:

  • Delayed maintenance
  • Dated or undesirable features
  • Undeclared repairs
  • Inexperienced appraiser – make sure you choose a professional appraiser who is in good standing with the Appraisal Institute of Canada and who has a good understanding of the local market conditions where your property is located.

How Can You Help Improve the Appraisal Value of Your Property?

If you are preparing for an appraisal on your home there are a few things you can do to help improve the final appraised value, such as:

  • Prepare – treat an appraisal the same as a house viewing – present your home in its best light.
  • Simple fixes – repair minor damage, paint over marks on walls etc.
  • Paperwork – gather any relevant paperwork that supports the valuation of the home such as property tax bills, HOA fees, receipts and permits for any improvements or upgrades.

This pre-appraisal checklist for homeowners is a great starting point for anyone looking for the best ways to positively influence their final appraisal value.

Get Expert Help from a Local Qualified Home Appraisal Team

If you need an appraisal on your property for any reason, make sure you use an experienced and qualified appraiser like the team at D.Fritz Appraisals Inc. Based in Victoria, BC and offering home appraisals across Vancouver Island and the Gulf Islands, our team of appraisers are all in good standing with the Appraisers Institute of Canada and have superior knowledge of the local market.

Whether you are a property owner, real estate agent, mortgage broker or lawyer, we can provide quick and accurate home appraisal services. Contact us today to let us know how we can help with your home appraisal needs.

investment property appraisals

Home Appraisals for Rental Properties

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Investment Property Appraisals – What You Need to Know

Let’s take a look at investment property appraisals because it doesn’t look like our gold rush of a real estate market is slowing down anytime soon. Perhaps your family has outgrown your home and are thinking of moving but would like to keep your current place of residence.

Mortgages, property taxes, and utilities aren’t going to get much cheaper, so what’s a viable solution? 

If you are planning on moving or looking for more passive income, it might be time to rent out your property.

While having a new stream of cash flow can be exciting, you’ll also be taking on the role of a landlord. 

However, before you take on this exciting challenge, you’ll need a rental property appraisal first.

At D. Fritz Appraisals Inc., our team offers the most accurate, fair value assessments for rental properties. 

Why Rent Out Your Property?

Typically, when people sell their homes, they use the equity they have built in one house and use it on the next. But that’s not always the case.

Some homeowners will convert their primary residence to an investment property, and it’s usually done for one of two reasons.

  1. A homeowner might do this because the housing market is struggling, and they’re concerned their home’s value has dropped. By renting it out instead of selling it, they can hold on to the property and wait for the value to rise again. 
  2. Another reason to rent out your home is to increase your monthly income. By converting your primary residence to an investment property, your family can enjoy the perks of having their mortgage payments paid for.

But what’s the difference between a primary residence and investment property?

What Makes a Primary Residence or Investment Property?

Whether it’s a house or an apartment, you can only own one primary residence at a time.

If you are buying a home as a primary residence, you may be able to receive lower interest rates and lower down payments. Depending on where you live, you might be able to apply for tax benefits. 

An investment property is purely to generate income. If you are purchasing a home or apartment as an investment property, you may need a larger down payment and pay a higher interest rate.

Whether you are converting a primary residence to a rental property or purchasing an investment property, it can have its own set of challenges. 

What to Consider Before Renting Out Your Real Estate

One of the most important things to consider is your mortgage agreement. Typically, when you sign a mortgage, you must live in your primary residence for 1 to 2 years. If enough time has passed and you want to convert your primary residence to an investment property, you are free to do so.  

When your primary residence changes over to an investment property, your taxes are likely to change. You can benefit from a wide variety of deductions on your taxes, utilities, and much more.

Finally, you’ll need to speak to your insurance company. Switching from your current house insurance to rental insurance will likely increase your rates. This covers your building, but not your renters’ belongings – they would have to get their own renter’s insurance. 

With all of these things to consider, it’s time to get your investment property appraised. But how do professionals find an accurate assessment?

How to Value Your Real Estate Rental Property

With income from investment properties at an all-time high, rentals can offer an increasing source of revenue for your family.

While there isn’t just one solution to appraise your property, a combination of different methods can help you find an accurate assessment.

Here are some of the more common ways to value your rental property:

  • The Sales Comparison Approach

SCA is one of the most popular ways of valuing residential real estate. This involves a comparison of similar homes that have been sold or rented locally over a certain period. 

  • The Capital Asset Pricing Model

CAPM is a more comprehensive valuation model. This details the potential return of investment from your rental property and whether or not it’s viable. 

  • The Income Approach

This indicates the potential income for your rental property, compared to the initial investment. This approach is commonly used for commercial real estate investing. 

  • Gross Rent Multiplier Approach

GRM will value a rental property based on the amount an investor can potentially collect every year. While it’s easy to measure whether or not a property is worth the investment, this won’t take taxes, insurance, utilities, and other expenses into account. 

  • The Cost Approach

This model combines the land value and the depreciated value of any home improvements. While this approach can value newer homes reliably, it may not work for older properties. 

For more in-depth details about the appraisal process, feel free to contact us with any questions you may have. 

Deducting Taxable Income 

One of the benefits of owning a rental property is claiming tax deductions for any expenses related to the property. You can claim rental income and additional expenses on “Form T776”. 

The most common rental expenses can include:

  • Home insurance
  • Heat
  • Hydro
  • Water
  • Mortgage insurance

Claiming these expenses will save you money in tax deductions, but why not take it a step further? As long as it’s concerning your rental property, you can claim so much more.

You can deduct additional expenses such as:

  • Advertising your rental property
  • Bank fees and interest
  • Property taxes
  • Cable
  • Office expenses
  • Travel if your rental is in a different municipality
  • Repairs and maintenance
  • Salaries and management

Some expenses can be deducted in full if it’s spent to maintain the rental property. However, if your rental is a part of your primary residence, you can only claim a certain percentage.

Much like anything home-related, there are always stipulations on how much you can deduct. Check out rental expenses you can deduct from the Canada Revenue site to learn more. 

Get Your Fair Value Rental Assessment Today

While there is no one way to appraise the value of a rental property, it’s important to look at the different valuation methods before making an investment decision. 

By learning these valuation concepts and researching how to save on expenses, you could be well on your way to getting into the real estate investment market.

At D. Fritz Appraisals Inc., our team has over 40 years of experience appraising homes, offering the most precise assessment according to the market today. Our appraisers are certified, professionally insured, and committed to the appraisal process every step of the way.

 Contact us today for a professional appraisal of your rental property. 

pre-appraisal checklist for homeowners

Pre-Appraisal Checklist for Homeowners

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Be Prepared for an Appraisal for a Positive Impact on Your Home’s Valuation

Whether you’re selling, refinancing, dividing assets, settling an estate, or determining capital gains on an income property, it pays dividends to be prepared for your home appraisal.

The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. It takes the home itself, the neighbourhood and the available historical data into account to determine the most accurate valuation. If you want to refinance, sell, or buy, the appraisal provides mortgage lenders with straight facts so they can underwrite loans based on the purchase price or the appraisal (whichever is lower.) If you’re selling or dividing assets post-divorce, the appraised value ensures that you’ll receive a fair sale price.

How Do I Get Ready for the Appraisal on My House?

Thinking back to when you first listed your home, you likely cleaned it top to bottom and got it looking as good as new for the marketing materials. You’ll want to do this again for your appraisal, so your home makes the best impression possible.

To prepare, gather up all the details about your home relevant to its value. Have a record of comparable properties in the neighbourhood, plus information about neighbourhood amenities. Once that’s done, you can turn to the home’s appearance, doing any repairs and getting estimates for any larger repairs or updates that are needed. Also, don’t overlook the general condition and upkeep of your home. Essentially, you’re going to want to pretend you’re listing your home for the first time and get it looking its best, attending to anything that may have been missed when it was placed on the market.

A good rule of thumb is the $500 rule. Anything that needs to be repaired or updated usually detracts from a home appraisal in $500 increments. Things like cracked tiles, broken fixtures or an outdated countertop can add up to thousands less in your home valuation. Before your home appraisal, you’ll want to go through your home and take care of anything that costs less than $500 to fix. You’ll be able to recover those costs in your home appraisal.

On the day of the appraisal, make sure the appraiser will be able to move around the full perimeter of the home and that all rooms are accessible. You may also want to contain any pets who may be a disturbance. We’ve prepared a complete checklist to make preparing for your home appraisal as simple as possible:

Full Residential Pre-Appraisal Checklist

Information About the Home

  • List of improvements made in the last 15 years, with costs and completion dates.
  • Plot/blueprint or property survey.
  • Home inspection reports (current and previous). If you’re unsure about the difference between each, we have a helpful blog post on home inspections vs. home appraisals.
  • Copies of any previous appraisals – this can help the appraiser see how the value has changed over the years. This can help to pinpoint any trends when combined with the BC Property Assessment information.
  • HOA documents – if you live in an HOA neighbourhood, the appraiser will need to see the costs, regular maintenance schedule, history of fee increases, etc.
  • Any known inconsistencies with data – if your assessed property value has been fluctuating wildly over the years, this needs to be looked at. This will help ensure a fair market value.
  • Any non-permitted additions – if you’ve added a permanent structure without a permit, this can impact the value of your home and pass an unwanted issue on to the buyer. It’s important to note that any undisclosed additions can cause a breach of conditions in your sale contract.
  • Any easements or encroachments – any part of the property should be accounted for to get the most accurate estimate of the land value.
  • The CMA (Comparative Market Analysis) from your Realtor – review this document to see if you know of any homes that were renovated after purchase. Their newly increased value can increase your neighbourhood’s benchmark prices and potentially, that of your home. Properties that have undergone significant changes may no longer be useful for the CMA.

Neighbourhood Features

  • Nearby schools and any special notes about their programs
  • Nearby parks and green space
  • Amenities and shopping
  • Public transport locations
  • Any infrastructure that’s been added since you bought the house


Interior Care

  • Clean up and repaint areas where paint is peeling and discoloured
  • Repair or replace broken hardware
  • Replace outdated fixtures
  • Clean carpets and mop hard flooring
  • Repair any loose floorboards, broken blinds, etc.


Installations

  • Are smoke detectors working?
  • Are carbon monoxide detectors working?
  • Is the water heater strapped?
  • Is the security system in good working order?
  • Are all appliances properly installed and working?


Repairs

  • Note any major repairs and how much it would cost to complete them.
    The appraiser will be able to factor that cost into the appraisal as if the repair or upgrade were already completed.
  • Any leaks in roof or key parts of the home
  • Cracks in walls or foundation
  • Damage to flooring
  • Damage to drywall or exterior stucco/siding
  • Peeling paint
  • Visible damage to doors, windows, screens, etc.


Exterior Care

  • Remove clutter and stray toys from the front and back yards
  • Mow the lawn
  • Tidy the garden and do a little light landscaping
  • If possible, add colour with flowers
  • Touch up paint where it’s needed
  • Replace any broken gutters
  • Update older fixtures and address numbers
  • Remove any outdated décor

 

If you have any questions or concerns about the appraisal process, we recommend looking through our FAQ section, or contacting us by phone or email for assistance. You may also want to speak with your real estate agents about your appraisal preparation.

For even more ways to increase your home’s appraisal value, be sure to read our post on 8 ways to increase the value of your home.

D. Fritz is your residential appraisal expert for Vancouver Island, Victoria and the Gulf Islands. If you’re considering refinancing, buying or selling, our professional team will provide the most accurate and comprehensive evaluations. With a combined half century of experience across the industry in business administration, lending and real estate sales, you can trust in D. Fritz for your real estate appraisal. To order your appraisal, contact our team today.