Want to know the fastest way to throw away your renovation budget? Make choices based on what you like instead of what sells.
We sat down with Nick Messina from Team Goren REMAX and Kass DiPasquale from Kass Design Studios to get the real story on what works and what doesn’t for investment property renovations.
The Biggest Mistake You Can Make
Both experts said the same thing right away: investors keep making renovation choices based on personal taste. And that’s a disaster if you want to sell or rent quickly.
Here’s the thing – when you paint that bedroom neon green because you love bright colors, you just cut your potential buyer pool in half. Maybe more.
Think about it. When someone walks into a house painted black with red paint dripping down the walls to look like blood, they’re not thinking “oh, I’ll just repaint.” They’re running for the door.
Your Home vs. Investment Property
Kass made a great point: if you’re keeping the property for yourself, go wild. Paint it hot pink. Put up your hunting trophies. Do whatever makes you happy.
But if you’re renovating to sell or rent? You need to forget what you like and focus on what the masses want.
Book Your Strategy CallThe White Paint Strategy That Actually Works
You know what’s boring but effective? A fresh coat of white paint.
Nick swears by it. White is neutral enough that anyone can see themselves living there. It opens up possibilities in buyers’ minds instead of making them think about how much work they’ll need to do.
But here’s where it gets tricky – you don’t want the place to feel like a sterile hospital room either.
Making Neutral Feel Warm
Kass has a solution: staging and plants. You want to remove personal items so families can picture themselves there, but add enough warmth that the space feels inviting.
Plants are perfect because they add life without screaming “this is MY style.”
Where to Spend Your Money
Not all renovations give you the same bang for your buck. Here’s what actually pays off:
Kitchen Renovations Return 75-100%
This is the big one. Put $10,000 to $30,000 into your kitchen and you’ll get most of it back when you sell.
But you don’t always need to rip everything out. Kass says you can save a ton by repainting or refacing cabinets instead of replacing them. A cosmetic update can look amazing without the $60,000 price tag.
Want a quick win? Add a backsplash. One appraiser told us it added $5,000 in value to a home – and backsplashes cost way less than that to install.
Bathrooms Return About 70%
Here’s Kass’s rule of thumb: if you have two bathrooms, update one completely from top to bottom. The second one can get quick cosmetic fixes.
Nick agrees. As long as one bathroom looks really nice, buyers can deal with a less-updated second one. They think “we’ll use the nice one most of the time.”
For simple bathroom updates, focus on light fixtures and vanities. You can make a big visual impact without gutting the whole room.
How to Cut Costs Without Cutting Corners
Here’s a money-saver that actually works: use LVP (luxury vinyl plank) instead of hardwood. You’ll save about $5 per square foot.
Over a whole house, that adds up fast.
And here’s a bonus – if water gets on LVP, you can pull it up, dry underneath, and put the same pieces back down. Try doing that with hardwood.
Just keep extra material on hand because pieces cut to fit walls can’t be reused if you need to take the floor apart.
Plan Before You Swing a Hammer
Most investors get this backwards. They start renovating and then wonder if they’re making the right choices.
Do this instead:
Step 1: Create Your Vision
Use free tools like Canva and Pinterest to gather ideas. Make a mood board. Get clear on what you want to do.
This helps even if you’re working with a partner. Kass says men and women don’t think the same way, so having visual references prevents arguments and expensive mistakes.
Step 2: Make a Spreadsheet
Write down every renovation cost. Figure out how much you’re willing to spend before you sell or rent.
Step 3: Talk to a Real Estate Agent FIRST
Before you do any work, call an agent like Nick. Ask them:
- What’s my property worth right now?
- What will it be worth after these updates?
- Do these renovations make financial sense?
You might find out that $20,000 kitchen renovation will only add $10,000 in value. Better to know that before you start.
Finance Your Renovations the Smart Way
Here’s something many investors don’t know: you can build renovation costs right into your mortgage.
This means you don’t have to pay cash out of pocket. You can use other people’s money to improve your property and save your cash for buying more properties.
That’s how you grow a portfolio faster.
Real Horror Stories to Learn From
Nick told us about a beautiful house with great curb appeal. But inside? Dead trophy animals covering every wall. Moose, wolves, you name it.
His clients were terrified. They couldn’t see past the animals to appreciate the house itself. One showing and done.
The fix? Put that stuff in storage when you’re selling. Don’t cut your buyer pool in half because you want to show off your hobbies.
Another property had lime green walls, pink walls, and a bathroom that mixed three different design styles at once. Nobody could figure out what they were looking at.
Should You Try to Stand Out?
Kass asked an interesting question: what if being memorable is good? If someone sees 15 houses in a day, maybe they remember “the one with the pink room.”
Nick’s answer was smart. It depends on who’s buying. If it’s a family moving in, bold colors are risky. They probably won’t repaint right away.
But if it’s an investor who’ll repaint anyway? Being memorable might help you.
Still, playing it safe with neutral colors is usually the better bet.
Build the Right Team
Don’t try to save money by skipping professionals. Kass saw someone try to wire their own house to save on electrician costs. They did it wrong and had to pay to rewire the entire place.
Cost them way more than hiring an electrician from the start.
Your team should include:
- A real estate agent who knows local values
- A designer who can create a cohesive vision
- Qualified contractors and trades
- A mortgage broker who can help with financing
Make sure everyone knows your goal. Are you flipping? Renting? Selling as-is? Different goals need different approaches.
The Bottom Line
Stop renovating based on what you like. Start thinking about what sells.
Put your money into kitchens and bathrooms. Keep colors neutral. Use staging and plants to add warmth. And talk to professionals before you start – not after you’ve already spent the money.
Your bank account will thank you.
Book Your Strategy Call
