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1 beds / 1 bath
308 EAST 109 STREET - 8A
East Harlem
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1 beds / 1 bath
229 EAST 29 STREET - 3E
Kips Bay
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Highline Blog
Blog Image for Tips for Buying a Home That Needs Work
by Highline Residential
Roughly 37 percent of the average American's budget is put toward their home. It's a lifelong investment that will take most people between 15 and 30 years to pay off. If the cost of homes in your target area is above your current budget, then you might want to consider purchasing a home that's in need of some work. Most people pay will pay through the nose in order to get a pristine house with no issues whatsoever. You can get around this industry standard and make away with a steal by investing in a property that doesn't meet this perfection requirement. So, here are some tips for those buying a home that needs work. Calculate Before You Buy With any major investment, it's important to do some calculations beforehand to ensure the return is worthwhile. When it comes to purchasing a home in need of repair, you should determine whether the cost of renovations will end up being more expensive than purchasing a brand-new property. Start by adding up the overall cost of repairs needed on your prospective house. Once you find the listing price of a similar home that is in perfect condition, subtract the total repair expenses to see how much money you're saving. Add a Garage or External Structure If you found a great deal on a home but aren't happy about the limited space, you can always add a garage or external structure for additional square feet. Whatever can't fit in the main part of your house can be placed into this extra space. Not only will this addit...
Blog Image for New York State Increases Transfer Taxes
by Highline Residential
Yes, it's true. New York State has instituted increases to the New York State Transfer Tax as well as the "Mansion Tax." First, let's remember that these increases are a much-needed revenue-raising mechanism for the Metropolitan Transportation Authority. Second, legislators originally considered a pied-a-terre tax, which would have affected anyone who owns an apartment in New York City but has their primary residence somewhere else. Fortunately, they decided against that and the real estate industry was pleased; because we don't want to discourage people from buying second homes in NYC. While the New York State Transfer Tax applies to all sellers of real estate and cooperative apartments in New York State, the increases recently instituted only apply to transfers within New York City (or any other cities within New York State with populations of 1 million or more). The Additional New York State Transfer Tax, which is known as the "Mansion Tax," applies to purchasers of real estate and cooperative apartments with a sale price of $1 million or more, on a sliding scale. I can't wait to see what the MTA does with the money to make our lives better! Please use Highline Residential's CLOSING COST CALCULATOR to easily estimate what your closing costs will be on your transaction! See you at the closing! Posted by Highline Residential's Sales Manager, Stacey Max. Find Stacey on Facebook.
Blog Image for Home Updates That Are Resale-Friendly
by Highline Residential
If you are thinking about making some changes around the house, consider renovations that will help increase the resale value of your home. Even if you're not looking to sell right away, certain home improvements can still be worth the effort. Small changes over time are more manageable than doing a complete overhaul right before you put it on the market. Here are a few things you can do to boost the value of your home as well as your enjoyment of it. 1. Replace your carpet with wood floors. According to Realtor.com, "The top request of home buyers and renters when looking for a home is hardwood floors." They are easier to keep clean when kids and pets are in the mix, and make a house feel cozier due to their warm color. 2. Make upgrades in the kitchen. Popular kitchen updates include adding a tile backsplash, farmhouse sink, pendant lighting, and other high-end finishes, such as new cabinet handles. Elevating your countertops by replacing them with either stone or granite is far and away the most effective way to upgrade your kitchen, and because this project typically runs between $1,651- $4,086 in New York City, it can be a surprisingly affordable way to increase your ROI. 3. Repaint. A fresh coat of paint can often give the illusion of a cleaner, more spacious and all around newer home, and sets the stage for decor. Opt for neutral colors that are soft or muted, and stay away from darker bold colors. Consider sticking to basics and white trim. You can even br...
Blog Image for The Ultimate Guide to Rental Property Maintenance for Tenants
by Highline Residential
A common misconception that runs rampant in the housing industry is that property maintenance is an affair reserved for landlords. As a result, we have seen many instances where a landlord complains that a tenant has left a trail of destruction in the house and is not willing to offer compensation. Although the security deposit fee is set aside to meet these requirements, at times it is not enough to cover all the costs of damages. The Fair Housing Act makes it perfectly clear that there are maintenance requirements from both landlords and tenants. The main obligation of the landlord is to provide a habitable dwelling for the tenant, which includes repairing damages caused by wear and tear. On the other hand, the Act requires the tenant to clean and tidy the property and also provide repairs for damages not caused by natural causes. For instance, if the damages are as a result of tenant negligence or deliberate destruction, then they are required by law to meet all the costs of repair/replacement. Here is the ultimate guide to rental property maintenance for tenants. Tenant Maintenance Responsibilities The main requirement of tenants as outlined by most state laws is to keep the house in a clean and habitable condition. Major repairs involving natural wear and tear of the property are shouldered by the landlord. Tenants on the other hand are mandated to assume charges of damages caused by daily usage of the property and also to ensure the property is maintained at almo...