Keyboard: CTRL + K, CTRL + S
Menu: Edit -> IntelliSense -> Surround With
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This is one that even people who know about snippets tend to forget. You can actually put a snippet AROUND existing code. Assuming you have some code selected:
Just press CTRL + K, CTRL + S:
Then type the statement you want to surround the code with. In this case, I'll use an "if" statement:
Hit your TAB key once and you get your result:
Now you can put in your condition and any additional logic you want. Pretty cool stuff!