Midtown Appraisal Group

08/17/2026

Could modular construction help Canada make a dent in its housing crisis? https://ow.ly/teUo50ZzC54

Canada cannot solve its housing crisis through policy reform alone. Modular construction could help build homes faster.

08/14/2026

I hadn’t been an AACI for very long when it happened: I was doing an inspection of a pretty standard, older 3-bedroom bungalow outside of Hamilton, and the homeowner insisted I see the master bathroom first.

“You have to see this!” he said, leading me toward the back of the house. When I got to the bathroom door, I guess my face didn’t register the amazement he expected, because he started to point to individual items: The pink marble (everywhere); the gold-plated faucets (real gold! on the shower and both sinks!); the chandelier (Swarovski crystals!). “We spent more than $27,000 on this room – the shower faucet alone was $1500! A real estate agent said it definitely adds $50k to the value of the house.”

The guy was proud of his bathroom, and I understood where he was coming from: He and his wife had spent a lot of time and a lot of money creating a dream bathroom for themselves. They were emotionally invested in it, and now that they were having to move due to some work changes, they wanted at least to feel like they were going to recoup the money they’d spent.

Except it was a radically upscale bathroom in an otherwise pretty normal home, and I knew that for every potential buyer who loved it that bathroom, there’d be another who had a strong aversion to all that pink marble and would have preferred a standard white subway tile.

As an appraiser, I often feel torn: I’m aware of the emotional attachment people have to their homes, and it feels cruel to be too clinical when faced with a vendor’s obvious pride; at the same time, I have an obligation to be neutral and disinterested. You can’t defend a valuation in court by saying “I just really got a good feeling, and the homeowner loved that place.”

The homeowner isn’t my client, and in fact I probably never have to see this person again, so there’s no harm in being polite and professional in the moment, even though I know my valuation is going to be much less than the homeowner expects. But I feel some obligation, as the professional who is the least invested in the actual value of the property, to prepare the homeowner for what’s to come: I want to tell him that when you over-improve a property, or improve one part of it in a highly-specific way, you just can’t expect to recoup your money in the short term.

When I returned to the office, I discovered that a couple of the comps in the neighbourhood had older bathrooms, so I was able to give the property a bit of an adjustment for the master bath; I made special mention of the glamorous bathroom and noted that it might have additional appeal for some buyers. But in the end the comps were pretty clear about the market value of the property, and it definitely didn’t command a $50k, or even a $25k, premium. The sale price turned out to be within 3% of my valuation, so from a professional perspective, I know I did the right thing. But I still feel a bit badly for that guy – he loved that bathroom.

08/14/2026

This is a sponsored post, but it's actually not a bad primer: What to do before you apply for a mortgage. https://ow.ly/V9sV50ZzBSX

07/19/2026

Now that federal employees have to return to the office 4 days a week, office space is becoming a little more scarce than it was: https://ow.ly/YPEm50Zn7Qh

Building Office space scarce as federal public servants return to the office four days a week The Treasury Board announced the change to remote work rules in February. Executive public servants returned to the office full-time in May. By Catherine Morrison - The Canadian Press Last updated Jul 10, 2...

07/17/2026

The ban on non-Canadians buying Canadian real estate will expire in 2027, and the government is signalling that it won't be renewing it. What does this mean for the market - and you? https://ow.ly/Bg0s50Zn7OR

The Carney government is weighing a new framework as the 2027 deadline approaches, with Australia's tiered model firmly on the table

07/15/2026

Now that we're well into cottage season, you might be thinking about buying your own. But what do you need to know before buying a cottage in Canada? https://ow.ly/SFtu50Zn7Ny

07/13/2026

Ever wondered how appraisers determine a valuation for your property?

There are 3 main ways: The cost to replace the land and improvements, the amount of income a property generates, and comparing the property to other, similar properties which have recently sold.

For residential properties, appraisers generally rely on the Sales Comparison Approach as the most reliable for an average buyers in a typical neighbourhood. However, it's important to remember that good appraisers will also consider the other approaches when doing a thorough appraisal: For example, a 3-bedroom home with a fully-contained, legal apartment in the basement will have more income-generating potential than the exact same home with just a 'finished' basement - and the appraised value will reflect that.

05/26/2026

Lease negotiations: Sometimes it's about what you don't say, not just what you do say. https://ow.ly/b6vK50Z3HBh

Careful What You DON’T Say A recent Ontario Court of Appeal decision raises questions about the availability of common law and statutory rights in lease negotiations. Building By Daoust Vukovich LLP Last updated Mar 31, 2026 Negotiating a contract (including a lease) is done against the backdrop o...

05/25/2026

Appraisers: What's the difference between AACIs and CRAs?

Banks and other finance companies want to know that their investment will be safe – that there’s sufficient equity in your property to cover them in the event that you default on your loan. So they need to know just how much the property would be worth if it were sold on the open market.

While, in some cases, the bank will accept an appraisal from a local real estate agent, they generally prefer to have appraisals done by appraisers who have been certified by the AIC (Appraisal Institute of Canada). AIC-certified appraisers are professionals who have to meet high standards of knowledge, professionalism, ethics and experience, so their valuations are generally considered to be more objective and accurate.

There are two AIC certifications:

CRA: Certified Residential Appraiser. CRA-certified appraisers can appraise residential properties and land or lots designated for residential development. These valuations are readily accepted by banks, other financial institutions and legal firms – but generally only for residential properties.

AACI: Accredited Appraiser Canadian Institute. Appraisers with the AACI designation can appraise any type of property, including residential homes, commercial, industrial and agricultural properties, with machinery and equipment. These appraisals are also readily accepted by banks, financial institutions and legal and financial firms.

What about my real estate agent? They say they can value my property.
Real estate salespeople and brokers can often have significant knowledge about properties in a specific neighbourhood or area, and the best ones are up-to-date on what the current market is doing. They can be useful when it comes to providing a provisional pre-sale value if you’re looking for an approximation or if high-ratio financing isn’t dependent on the value. However, real estate professionals don’t have a fiduciary duty to provide objective valuations, and they aren’t always sufficiently knowledgeable to provide a detailed analysis about agricultural, commercial or industrial properties. This can cause challenges when it comes to legal matters later.

Regardless of the appraiser the bank chooses to value your home, the basic process is the same: The appraiser will visit your property, take a good look (and photographs) inside and out, and then compare your home with others which have recently sold in the neighbourhood in order to determine the market value for your property.

05/04/2026

What are appraisers really looking for when they’re walking around your property, making notes on their clipboard or tablet?
It’s important to remember that appraisers are looking to arrive at a value of the home given ‘average’ circumstances. They’re not valuing the home based on what the ‘ideal buyer’ (the one who’ll take one look at your peony garden and fall in love with the place) or the ‘hard-nosed buyer’ (the one who sees a bit of chipping paint on a doorframe and tries to drive a hard bargain) might be willing to pay.
Appraisers are trying to establish a value of the home based on current market conditions, the typical buyers in your neighbourhood, and what a ‘normal’ person might pay.
Property size and land value
Appraisers will look at the size of your property compared to others in the neighbourhood: If your lot size and landscaping is about the same as all the others on your street, then the value will be similar; if your property is the smallest on the street, the value might be discounted; if it’s the largest on the street, the value might have a premium. In more rural areas, acreage and zoning will be examined.
House size (with emphasis on bedrooms and bathrooms)
While the overall size of a house will definitely affect its value, a 2000 square foot home with only 2 bedrooms will generally be worth less than a 2000 square foot home with 3 or 4 bedrooms (all else being equal).
Bathrooms contribute similarly to the value of a home: All things being equal, a 1500sqft home with 2 bathrooms will be worth more than a 1500sqft home with 1 bathroom because the perceived utility of the 2-bath home is higher.
Plumbing and electrical
Your house’s mechanical systems, like plumbing, heating and electrical systems, are big factors in the value of your home. Appraisers are checking to make sure that your electrical system is adequate for the home; that the plumbing and septic systems are in good working order; and that a new buyer isn’t going to be saddled with the need for a new furnace.
Decor and design (to a certain extent)
Again, an appraiser is tasked with finding a valuation for the ‘normal’ buyer. When it comes to interior design and decor, this means asking the question: “What would the average buyer think of the look of this place, and how much work will they have to do to make it liveable for themselves and their family?”
Valuation for interior design and decor is most noticeable in things like kitchens, bathrooms and flooring.
There’s an X factor – but it shouldn’t be counted on.
Ultimately, your appraiser is going to look at your home, including the factors above, and then compare it to other properties in the area which have recently sold, in order to come up with an ‘average’ value.
That doesn’t mean that appraisers are blind to the notion of an X factor: The buyer who has always loved your home and wants to buy it for a premium, even with the lime green walls. Or the couple who want to live close to their parents so they buy the home two doors down and never look at their other options.