There are many reasons to renovate a home, but if you're preparing to sell or resell, the process can get a little complicated.
It's not always easy to know what's worth spending your money on, especially if you want to make a profit from selling.
Insider spoke with Tamara Day, interior designer and host of HGTV's “Bargain Mansions,” about the biggest mistakes people make when preparing a home for flipping or putting it on the market.
Day has flipped 14 homes so far this year, many of which will be featured on the new season of “Bargain Mansions,” which premieres Monday.
Cheap cosmetic fixes can cause problems in the long run
Sellers often know they need extras like stone countertops or hardwood floors to sell their home, but they don't necessarily want to splash out on the most premium materials, Day told Insider.
“They're just buying basic granite, basic hardwood, basic carpet,” Day said of homeowners and sellers, “and that's not what people are really looking for.”
It's better to invest your money first. Tamara Day/”Bargain Mansions”
Instead, Day said homeowners should spend more money up front on exterior renovations to make their homes easier to sell.
According to Day, buyers “are not looking for basic things, they are looking for beautiful things.”
“I think it's a waste of good money to choose something based on price rather than on style and what the potential buyer is looking for,” she said.
If you're buying a home to resell, you're not necessarily choosing the best option.
It may sound counterintuitive, but if you're planning on flipping your home for a profit, buying the nicest home you can get within your budget doesn't necessarily make the most sense, Day says.
“When I look at houses, I think the uglier the better,” Day said, adding that the cheaper the price, the more room there is for renovations.
Sometimes it's better to buy a house in bad condition. Tamara Day/Bargain Mansions
“At the end of the day, if you're buying a home that's been somewhat fixed up and you're paying a little extra and you're still removing cabinets and countertops, you've paid a little extra to get it to a passable condition,” Day said.
She suggested homeowners and sellers consider the fact that they would probably pay the same amount to repair cabinets in a home that is in poorer condition.
“Spend your money on things that will really increase the value of your home,” she explained.
Hiring an interior designer for home renovations is an often overlooked option.
Whether you're flipping a house or preparing to sell your own, you'll want to spend your money as efficiently as possible.
Day noted that interior designers can help owners get the most out of their budget and should be thought of as a resource rather than an expense.
An interior designer can make all the difference in a successful property flip. Tamara Day/Bargain Mansions
Plus, interior designers can help homeowners avoid costly home decor mistakes, Day says.
“Hiring someone who is knowledgeable about trends and styles can save you a lot of money,” Day says. “If you choose the wrong granite and you don't like it when you lay it down, it won't increase the value of your home. That's a big cost you don't have to pay.”
The new season of “Bargain Mansions” premieres Mondays at 8 p.m. ET on HGTV. You can also follow Day on Instagram.