There would hardly be a home owner who hasn't contemplated renovating at some stage, either because the family requires more space or to upgrade their standard of accommodation. But regardless of the reason, it is prudent for owners to carefully think through the pros and cons of renovating in preference to upgrading to a larger or better house in the same suburb or another area. An expensive alteration or extension can result in the property being over-capitalised which is not such an issue if the owner intends staying put for an indefinite period. But if the plan is to sell within the shorter to medium term, the house may not have increased in value by as much as anticipated, leaving the owner out of pocket.   Owners generally consult an architect or builder before making a decision about renovating but it makes good sense to also talk to an agent who knows the area as they will be able to offer an opinion as to the likely impact the proposed work will have on the property's value.   How the renovated property will fit with the style of housing in the area and its likely appeal to future buyers are other considerations that require thought.   If you're in the process of weighing up your options to sell or renovate, I would be delighted to assist in any way I can. Alternatively, if you'd just like to know what is likely to happen with the market in spring or obtain an idea of your home's current worth you are most welcome to call me on 0412494907.   Adrian Foster Director, Licensed Estate Agent, Auctioneer Hocking Stuart Mt Eliza and Hocking Stuart Frankston 3/87 Mt Eliza Way Mt Eliza 3930 E afoster@hockingstuart.com.au M0412 494 907 P(03) 9787 6878 F(03) 9787 6877