How to Make Wise Real Estate Decisions and Turn a New House Into a Home
About six years ago, our family was searching for a new home but the real estate market was hot and inventory was low. Sound familiar? One house met our needs in principle -- square footage, location, charm -- but the kitchen was in the garden level, making it a tough sell. My husband balked right away. But then my superpower kicked in to show him how it could be fabulous just by switching the location and purpose of some of the rooms. There was value to add to this investment. My husband and broker agreed that my plan was sound and we bought the house.
Realtors tell me they love working with me because I can literally see through walls and imagine how to make a house a home. And that’s what happened on that day. I mentally moved the kitchen into a living space, created a rec room where the kitchen was, turned an office into a dining room and a coat closet into a powder room. Voila.
Of course, I always enjoy employing this skill with my clients, too, whether they are brokers or buyers. And as the pandemic has created an even more urgent real estate market, with many feeling like they need to make rash decisions, I wanted to share some of what I’ve learned about how to really judge a house’s potential and what immediate fixes can have the most impact and return on investment so you feel at home as fast as possible, even if you’re not ready for a major renovation.
First, always look at the bones and ask these questions:
Is there quality woodwork and, if not, could it be added?
Is there good light coming from the windows and, if not, could that be addressed either by expanding the openings or bringing more lamps or pendants into the space?
Are there hardwoods under the rug?
And is there the right amount of square footage, even if the layout doesn’t work?
If you’ve got good bones, even small changes can make a big difference. Here’s how:
This powder room with wallpaper by Grow House Grow, light by Atelier de Troupe and vintage Italian mirror from 1st Dibs used to be a coat closet.
This client added storage under the stairs and built a new vestibule with built-ins to contain shoes and other outdoor gear, proving that being practical can also be beautiful. We added a pop of color and a cool light, by Patrick Townsend
1. Make it welcoming.
Let’s start at the front door, literally. Consider changing the vibe with a new paint color, modern door numbers, and entry light. Then, as you move into the vestibule, consider wallpapering it or painting it a vibrant color, then styling it with functional pieces that pop, including a statement light. Because there’s not alot of furniture in these typically small spaces, go big with decor to make a big first impression.
2. Take the heart of the home to heart.
If your kitchen cabinets aren’t falling off, you can refresh this important room without having to do a total reno. Paint the cabinets or replace the doors, knobs, sink and faucet, perhaps even a new countertop and -- boom -- new kitchen. Of course, lighting is key here, too.
4. Consider color.
As the winner of the HGTV Designer of the Year in color, I admit to being biased in this category. I love color and how it can transform a space as well as how you feel in it. The biggest mistake homeowners make is assuming they must paint everything a neutral for resale value. That can actually be a turnoff. While you don’t need your home to be a fun house, you can deploy color strategically to make it feel more comfortable. Certain tones of blues and greens, for example, are soothing and welcoming.
5. Don’t be blind to window treatments.
Outdated drapes, plastic shades or metal Venetian blinds can be off-putting, so updating those will make a huge difference. Of course, window treatments can be expensive but there are some creative ways around this. For example, roman shades require a third of the fabric than drapes.
Make your house special
“Almost every house looks the same…white or gray walls…neutral kitchen – and there is a lot of supply on the market just like this,” a recent client told me after she sold her home for a nice profit. “I have always remembered what a real estate agent told me years ago…your house only needs one buyer. I have kept that in mind when renovating all of my houses and have chosen to follow what brings me joy and what will make my home unique. It has never failed to boost my bottom line when selling…there is always at least one prospective buyer (and often more) who crave something unique that makes their heart sing. And when they find it, they are willing to pay for it because they know if they lose it, there are no substitutes out there. Cecilia worked with me to create the home of my dreams…even when I knew I was expecting to sell in near future. The results were stunning and prospective buyers thought so, too. A win-win for all!”
Realtors agree. “It really helps because a lot of buyers can’t visualize themselves and if you set the stage they can visualize themselves more easily in the property. Thinking outside the box a little bit makes the property stand out and it helps buyers,” says Paula Narenkivicius at Compass.
A client moved into a new home with a somewhat boring white kitchen. He asked for help bringing it alive so I added roman shades, art, lighting, upholstered chairs and some wall color.
Of course, there’s a lot of data about what home improvements yield the best return on investment. While kitchens, bathrooms and layouts are always key, sometimes it’s the little things that make a house a home and help it evolve over time, like the people who live in it. My dining room is now being used as a home office, just as it was before we owned our house. But I added custom glass french doors so I can see my husband when he’s on Zoom but I don’t have to listen to his meetings.
