Text Box: Increasing the Value of your Home   I have been a real estate appraiser for nine years and the most common question that I am asked by a homeowner is how can I increase the value of my property? My typical response is regular maintenance and being consistent with your marketplace.   For example if your market consists primarily of 900 to 1,000 square foot homes enlarging yours with a 500 square foot addition is more than likely not a good financial decision. The value of your home will increase but the expense of the addition would more than likely far exceed the return. Other questions to ask yourself if you are updating and improving your home are the what is the most common level of quality in your market and what upgrades and amenities do most homes contain. For example, if most of the homes in your market have linoleum flooring in the kitchen and formica countertops then updating with marble flooring and solid surface countertops more than likely will not provide the increase in value that you were seeking. Once again, the expense will more than likely exceed the increase in value. The two examples are referred to in the appraisal industry as “over improvements”. An over improvement is simply updating your home with features and upgrades that are not the standard in the marketplace and that will provide only minimal return due to higher cost. What I suggest is consistent maintenance and updating your home when needed with materials comparable to your market. Also, be active in helping to maintain your entire neighborhood. If your home is well maintained and looks like a million bucks but the common areas and other homes are neglected that will obviously negatively influence the value of your property. If you are seeking additional information about real estate, appraisals and mortgages visit our web site at www.jdnorth.com. .