| Just the Peaks
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When selling your property, it’s possible to turn a profit without spending a ton
How to boost your home’s image and get the biggest bang for your buck
A recent Realtor.com article featured a relatively modest home in the picturesque suburbs of Santa Fe, New Mexico. The four-bedroom, three-and-a-half-bath house sold in 2014 for $435,000. With a few cosmetic changes and some professionally staged listing photos, the homeowners managed to score a $200,000 profit upon resale in 2020.
That’s right. Six short years and a handful of strategic upgrades later, the family cashed in big time. Was it a little market luck? Next-level interior design skill? Some secret sauce native to the Southwest?
Nope. Nothing special to see here.
Simply put, the buyers were smart. Top real estate agents say there are plenty of hidden tricks for making money when selling your home or apartment—even when you don’t have a ton of cash to spend on major repairs or improvement projects.
“When someone is going to put their property on the market, you want to make sure that particular property has the best visuals when someone walks in, because people buy with their eyes,” says broker Anderson Toney at Compass.
Sure, that visual should be conveyed in person. But with more and more buyers shopping for homes online due to the pandemic, carefully staged furniture and professionally curated listing photos are just as critical to your success.
Seriously thinking about bringing your home to market? Compound your profit with these top reno and repair tips.
Affordable Home Upgrades for Maximum Impact
Living Room
If you strip away the couch, chairs, coffee table, television, and other essentials, most living rooms look like an empty square with a random fireplace. Buyers have a hard time visualizing cozy Netflix nights or entertaining guests—especially if the space is small.
Best bang for your buck: Invest in a new mantle, fresh ceiling fan, brighter wall paint, or strategic staging with oversized sofa, pillows, and throw blankets. Today’s families want warm and inviting as opposed to cold and formal.
Kitchen
If your home is a typical fixer-upper, the kitchen is likely harboring a dead appliance or two. Whether it’s a clunky ‘90s microwave or broken icemaker, prospective buyers are turned off by the thought of another major purchase. Making those relatively minor replacements pays off in the end.
Best bang for your buck: Swap out faulty appliances for new mid-range ones. Rip out outdated or damaged cabinets, but instead of spending a fortune on new ones, bring in an open shelving concept. Replace boring backsplash with a contemporary pop of color.
Bedroom
A lived-in bedroom is never as chic as a staged one. Over time, our sleeping quarters become dark, dusty, and cluttered. When it comes time to sell, this is one area of the home that absolutely must scream “clean!” and capable—that is, of fitting all their stuff.
Best bang for your buck: Remove dingy blinds and window treatments to boost natural light and give the impression of more space. Paint the walls white for universal appeal. And no matter how small the room, always stage with a queen size bed.
Bathroom
Bathrooms are tricky. One seemingly insignificant upgrade can easily turn into an entire renovation project! For affordability’s sake, real estate agents recommend you focus on finishes as opposed to reinventing the wheel. Reconfiguring a bathtub or building a second closet won’t give you the same return.
Best bang for your buck: In particularly old bathrooms, replace the vanity or shower tile. Either choice is sure to grab buyers’ attention while staying within your budget. In terms of color, bright whites are best, and for ‘wow’ factor, bronze accents seem super modern.
Outdoor Space
All it took was a global pandemic to make people appreciate a good backyard! Whether you’re working with a deck, patio, porch, courtyard, or patch of lawn, it’s important to make buyers see the space as additional square footage. Blooming flowers and greenery are nice, but not enough to close the deal.
Best bang for your buck: Stage your backyard as a dining room. Even if selling in cold weather, arrange a table with chairs, and string up some bistro lights. You can avoid the crazy landscaping bill while enticing families in-need of living space.
Everest says: cut costs, not corners