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Increasing The Value of Your Property

The biggest factor determining the value of your property is the market for homes in your area. However, other factors that you can control are also important. For example, specific home improvements can increase the value above the cost of the improvements. According to Remodeling magazine’s 2005 “Cost vs. Value” Report”  remodeling report, a mid-scale remodeled bathroom returns 102% to the owner after four years, an upscale bathroom addition provides 85.8%, and a mid-range master bedroom suite, 82.4%. Flashy remodeling projects rarely pay off, but if one area of the house is out of date or in bad condition, you will probably need to remodel it to get the best price for your home. The numbers have been increasing in recent years as real estate prices have increased.  Remember, quality pays. Well-planned and well-executed remodeling jobs are a good investment while bad work seldom enhances value or livability.