Magazine article Black Enterprise

Fixer Upper: Increase the Value of Your Home by Making Wellplaced Improvements. (Real Estate Strategies)

Magazine article Black Enterprise

Fixer Upper: Increase the Value of Your Home by Making Wellplaced Improvements. (Real Estate Strategies)

Article excerpt

Whether or not you're preparing to sell your home, you should consider making improvements that could increase the value of your property. As soon as Horace Taffe, 23, purchased his home in February, he immediately went to work trying to increase its value. Having become a licensed realtor with RE/MAX in 1999, he decided to use some of the "tricks" of his trade to his advantage.

Taffe says that besides the overall space a home offers, potential buyers are most often swayed to make their purchase on the condition of the kitchen and bathroom(s). He strongly advises renovating these areas, which can increase the market value of your home by as much as 25%. He also suggests replacing old dreary tiles, windows, and doors to make the property more marketable.

Research is the key, says Taffe. Before deciding to put your house on the market, you should definitely find out the value of the homes in your neighborhood. You can do so by calling your county's property records office, consulting your local realtors, querying sellers, and asking your neighbors. The price of houses in the surrounding area can affect the market value of your home.

Taffe's Englewood, New Jersey, home was purchased for $236,000. He says he replaced 32 windows, renovated two bathrooms and a garage, painted the home, and made other miscellaneous repairs that raised his home's value to more than $300,000. However, to get everything done for an affordable price, he had to be a great haggler and a bit of a do-it-yourselfer. …

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