Property values are influenced by a variety of factors.  The location of a property being one of the most important as demands for housing in a particular area can have an enormous impact on the price.  It is always good to evaluate the pattern of values for properties in the area in which reside, plan to reside or plan to sell.

It’s always the wisest investment to purchase properties in an area where the property trend is increasing as to allow you to take advantage of appreciation in the value over time.  Average increases in value are around 5% per year, but some areas of high growth will see increases of 10-15% each year.

Location is important, but you can probably increase the value of your home with a few changes no matter where you live.  The size of your home also influences a property’s value.  Making additions and remodeling can also have a huge impact on the value of a property. All too often sellers want to make huge changes to attract buyers, but some improvements can be costly mistakes.

Other additions that can add value are:

• Adding a carport.  This addition can actually add significant value greater than the investment in the carport itself.
• Expanding and updating kitchens is a wise choice.  Surveys suggest that you will get 75% or more back on your investment in a larger updated kitchen.
• Adding a second bathroom is also an intelligent decision.  
• Adding a deck is also ranked in the smartest remodeling choices.

It is one of the pluses of real estate; most modifications that you make increases property value quite greatly and you usually end up making much more than you spent in the improvements should you decide to sell.  This is one of the main reasons people should buy instead of rent.  A house is an asset that will grow in value and can offer great returns on investment if you make wise decisions.  

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