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To say the least, Valentina Lolans` first experience as a homeowner has been educational. After she purchased her turn-of-the-century bungalow in 1984, she discovered a serious roof leak and resultant water damage.

Then, when she opened the door to a basement storage room she had overlooked during previous inspections, she found the ceiling had caved in.

Fortunately, this Berwyn homeowner is both handy and hardy. She also has a roster of talented family members who have helped restore the neglected home to its former stateliness. Leaks and cracks have been repaired. Lolans feels she has more to do, but she`s thinking of selling or refinancing to take advantage of today`s low interest rates.

”It`s a big house for one person to take care of,” she told Peggy Letchos of Re/Max Combined in River Forest.

Letchos toured the property and offered her suggestions on how far Lolans should go with her improvement plans if she decides to sell.

Octagonal style

The architectural style of the home is ”octagonal,” a variation on the traditional bungalow in which the front elevation is bayed rather than flat. In this case, the front-room windows are stained glass. The home also features two bedrooms, one bath, a remodeled kitchen with breakfast nook, a cozy two-bedroom apartment in the basement and a two-car garage.

Lavish oak woodwork-much of it in excellent condition-runs throughout the home. Lolans scraped layers of matted carpeting and linoleum from the kitchen floor, rented a sander and finished the hardwood to a high gloss. Some of the window moldings, however, show the decades of abuse from the attachment and reattachment of drapery hardware. Other molding has been damaged by past water leaks.

Letchos advised Lolans to proceed with her plans to repair the damaged woodwork and to order storm windows where needed.

”The storm windows will be an excellent investment,” she said. ”If it`s a first-time buyer, they`ll bring Mom and Dad with them to see it and they will notice. The plastic over the windows will scare them and they`ll start knocking down the price.”

Lolans asked whether she should strip the paint off the crown molding-long painted white. Letchos advised against it. ”It`s one thing if you do it for yourself but it`s not worth the time and effort to do it for someone else. Just fix the cracks and any evidence of water damage. People are really afraid of any signs of water problems.”

Floor mystery

The oversized living room is carpeted in brown sculptured shag. Lolans said she doesn`t know the condition of the floor beneath it and Letchos advised her to find out before potential buyers pose the question.

”They`ll ask,” said Letchos. ”They might take it up. I don`t think you should, because families with young children like carpeting.”

In the bathroom, the floor and wall tiles are in mint condition. The tub, however, has long lost its sheen. Here Letchos recommended the surface be reglazed.

”It only takes a couple of hours and isn`t very expensive,” she said.

”I wasn`t aware of a way to do that,” said Lolans. ”I like a clean, white tub for myself, too.”

The basement apartment is spacious, warm and dry, but the kitchen could use some sprucing up, Letchos noted. Storage space consists primarily of a single wall cabinet and a pantry closet. A few more cabinets would make the room more functional, she said.

”This is less work than I expected,” said Lolans. ”I thought you would be a lot more critical about the way I`ve done things.”

”Just keep it simple,” said Letchos. ”The less you customize, the better the chance to sell. And stay away from wallpaper. No matter what you put up, buyers will take it down.”