Why Your BC Assessment Is Not Your Selling Price

Every January, Kamloops homeowners open their BC Assessment notice and wonder what it means for their home's value. Here is the truth: your assessment is not your selling price.

It is a snapshot from the past

Assessments are based on market conditions as of July 1 of the previous year. By the time you read it, the market may have moved up or down.

It is built for property tax

BC Assessment values thousands of homes using mass appraisal. Nobody walks through your home, so your new kitchen, your view or your tired roof is not factored in the way a buyer sees it.

What really sets your price

Buyers pay based on what is selling right now, what else they can buy today and the condition of your home. That is why a proper market analysis looks at recent sales, active competition and expired listings in your exact neighbourhood.

Pricing right from day one

A home priced right gets the most attention in its first two weeks on the market. Overpricing usually means more days on the market and a lower final price.

Curious what your home would sell for today? Request a free home valuation or grab my free Home Seller's Guide on the Free Guides page.