Why renovating could be the answer to your property's problems - increase the value of your dissipated market.Canadian real estate (duh, real estate in general) has been a rocky road for quite some time now. Sure, 2013 home sales are apparently off to a better start than last year with a possibility of 2014 being one of the first upward years we've had in a while, but we aren't going to get anywhere fast by sitting around and waiting for it. If we want change, we need to initiate it. And we can do just that by taking a look at the leading national market and adopting their methods. After all, they must be doing something right.It's no secret that Alberta is leading the way in the Canadian housing recovery, with Calgary spearheading this endeavour...but what are they doing so differently? Aside the obvious economic influx that Alberta is currently experiencing, they are nevertheless taking their real estate market's recovery into their own hands (literally) to accelerate market improvement through the renovation of their properties.If you think about it, this is a relatively obvious patch-job (so punny) for any suffering real estate market, as the home values will increase through renovation projects. Should entire areas jump on the 'reno' band-wagon, they would undoubtedly see a general increase in their average property values. And the beauty of this value-boosting strategy is that it stands independently from the fluxes in market activity and instead places the ability to increase home value right back into the hands of the home owners. Don't believe us? The other great thing about this is that it's a true-and-tried method straight from the heart of one of the nation's strongest real estate epicenters: Edmonton. Edmonton, as a result of increasing home renovation rates have not only benefited from the increase in home values, but have seen direct results through the increase in existing home sales.Where do we go from here? Well, our suggestion would be to pick up a hammer and get bashing away at the room or project that's been driving you insane, and instead turn it around into a room that's going to work for you by increasing the overall value of your home, and it's re-sale potential.image courtesy of Sarah_Ackerman
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