Bloomberg/Getty Images V. Bawa/June 7, 2023 5:58 AM EST
For people who are passionate about real estate and design and prefer a hands-on approach, flipping homes is an exciting job. But it can be tough to bring your ideas to life and turn a big profit. One key tip from Pagé Turner is to not invest in pricey appliances. “A lot of resellers skip that, but I think it benefits resellers to bring in high-end appliances that they don't have to buy at full price,” she told Realtor.
According to her, it's something you'll have to deal with anyway, so it's better to incorporate good appliances from the remodeling stage. “Incorporate everything so that you can get the most out of your home from the beginning, rather than buyers coming in and seeing where you've fudged it,” she explained. When potential buyers see top-of-the-line appliances in a remodeled home, they perceive the property as more valuable. The presence of high-end appliances often creates a strong positive impression and justifies a premium price to potential buyers.
Where to find high-end appliances
Extreme Photographer/Getty Images
Finding premium appliances like washing machines, refrigerators, and stoves at low prices requires proper research and strategic shopping. First, research different brands and models of premium appliances like LG Electronics, Miele, and Gaggenau's Signature to find out their usual retail prices. Then, look for sales and promotions directly from companies and other retailers. Be open to openings, display models, and older models, as they are often still in good condition.
“Visit stores that sell scratched or dented appliances. You can also find used, but lightly used, appliances through one of the social media platforms,” advises Page Turner. Scratched or dented appliances may have some cosmetic damage during shipping or display, but are otherwise fully functional. Online marketplaces like Facebook Marketplace and eBay are great places to find used or lightly used premium appliances at low prices. There may be room for negotiation in some situations, so don't be afraid to politely ask to get a better deal.
Why you should invest in high-end appliances when renovating your home
Starty/Getty Images
While finding a bargain is important, it's equally important to make sure the appliances will provide long-term value and contribute to the property's overall appeal. High-end appliances often feature modern designs and styles that make a space feel luxurious. They become a focal point and make the property feel more elegant to potential buyers.
Premium appliances typically offer more advanced features, innovative technology and superior performance than standard appliances, including energy-conscious options and efficient, eco-friendly smart home integrations that give potential buyers the confidence that their appliance will stand the test of time for years to come.
Plus, luxury appliances often come with extended warranties and quality customer support, giving buyers peace of mind. In a competitive real estate market, luxury appliances can help you differentiate your property from the rest. This increased appeal translates into better, faster sales, as buyers seek upgraded features and luxury touches.