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Platforms like Wealthsimple have made it really easy and affordable to track and trade stocks- but our biggest asset has been locked away in a black box. Bōde has set out to solve this problem….
Those of us Canadians that own homes have approximately 70% of our net worth tied up in our house. Isn’t it backwards that we can track small investments in real time through services like Wealthsimple and our most significant investments have essentially no data?
Is it because we are more consumed by our emotional connection to our home or that it is very cumbersome to accurately, conveniently and regularly understand and track the value of your home? Or both?
Let’s investigate.
Historically we have been forced to rely on one of the three following:
1. Tax assessments– we receive these once a year and they are highly politicized depending on the budget priorities of your local government
2. Pay for an appraisal– this is one of the most accurate approaches but can cost in the range of $400-$500 and requires scheduling, coordination, and a home visit
3. Ask an agent what they think it is worth– while some agents will provide this information it will likely come with a spoken or unspoken obligation to ultimately sell your property with them
In summary- slow, expensive and with strings attached.
Bōde has produced the most advanced home valuation tools in the Canadian market, for free with no strings attached comprised of:
Market Data: Market Data shows you ‘what’s on the market’ and ‘what’s sold’ at a community level
Sold Data: Provides you the sold price of every home each time it was purchased in the last 10 years
Comparables tool: Direct access to comparable homes information
In Summary- advanced, fast, free and without any “gotcha’s.
As with your stock portfolio, a data rich home ownership experience creates the confidence you need to be strategically agile to make important decisions including:
Understanding your home equity for additional debt servicing
Taking advantage of better interest rates through refinancing
Proactively preparing for your property sale, maximizing value
Now with Bōde you can check your home value as often as you’d like without any obligation or expense from the convenience of your couch.
When you sell your own home with Bōde, you are 13x more likely to sell to a buyer without an agent – which means saving 100% of the buy side commission fees.
Peer to peer deals reduce all the back and forth required when using agents. Connecting buyers and sellers directly creates a streamlined, transparent, and simple transaction.
We have answers to the most common questions in our Resource Centre, or feel free to ask specific questions either through our chat (bottom right corner, throughout the site).
