Tom and Mickey Break Down Luxury Trends, and Focus On Adding Value
"Most trends have the opposite effect than what’s intended," note New York City’s top real estate brokers with Compass, Tom Postilio and Mickey Conlon. "While style lasts, trends don’t. Following the latest trends in home design and decor doesn't always add value to your home."
Incorporating too many "it things" into your home can be the fast path to an outdated home. Plus, like in fashion, not everyone is seeking the latest fad. "Instead of chasing trends, it's often a better bet to focus on timeless features that have lasting appeal," recommends Tom. "Think classic architectural details, high-quality materials, and layouts that make sense to your target buyer." Of course, you don't have to be on a mission to sell just to justify interior design changes. Mickey adds, "These kinds of updates are more likely to add long-term value to your home and appeal to a wider range of potential buyers when the time comes to sell."
Tom and Mickey are a dynamic “Dream Team," and their eye for luxury real estate is nearly unparalleled in New York City. Recognize them? You may have seen them featured on Page Six TV’s “Billion Dollar Brokers” and HGTV’s “Selling New York.”
Tom Postilio and Mickey Conlon
Tom Postilio and Mickey Conlon
Trends to Avoid
When it comes to home design, it's all about finding that sweet spot between personal style and timeless elements that won't go out of fashion too quickly. "Bold and unique color scheme choices can be striking, but they could also become outdated and clash with future decor revisions. And let's not forget about going all-in on an industrial or rustic theme," cautions Mickey. "[These trends have] been popular for some time now, but too much exposed brick and reclaimed wood could get old fast." Tom nods and whispers, "We also think it's time to say goodnight to steampunk interiors."
The 3 Best Ways to Add Value — And Avoid Common Design Mistakes
If you're decorating or staging your home with the intention of adding value and impressing home buyers, there are a few important things to keep in mind. "Many buyers don't have a lot of imagination when it comes to rethinking a space or assessing its potential," notes Tom. We've seen this phenomenon 1000x over on our favorite real estate shows, but it always surprises us. Rather than risk a buyer fixating on a new piece of furniture for staging, or the picture rail holding an expensive and unique piece of art, look broader. "These are some key areas that buyers place a great deal of emphasis on, and they check off some of the biggest value-adds."
Tom Postilio and Mickey Conlon
1. Invest in Kitchen and Bathroom Upgrades"Upgrading your kitchen and bathrooms can seriously boost your home's worth," shares Mickey. "Kitchen and bathroom renovations are a notorious headache, so buyers tend to place a significant premium on these renovations."
He elaborates with the following tips:
- Choose modern appliances, quality countertops, and stylish fixtures.
- Stick to classic paint colors and materials for a timeless look.
- "A quick, easy, and inexpensive upgrade is regrouting bathroom tiles. Big bang for the buck!"
Tom Postilio and Mickey Conlon
2. Spruce Up Your Curb Appeal"Amping up your home's curb appeal can make a big difference," recommends Tom. "A well-maintained exterior tells a prospective buyer a lot about the desirability of the home even before walking through the front door."
- Give your landscaping some TLC
- Get the exterior in good shape
- Create an inviting entryway
- Install well-placed outdoor lighting
Tom Postilio and Mickey Conlon
3. Create Flexible Living Spaces"The pandemic taught us a lot about how we live and work, and we'll likely employ a lot of those lessons for a long time to come," reflects Mickey. "Creating versatile living spaces can add value to your home. Consider multi-purpose rooms, open floor plans, and adaptable areas that can meet different needs. Buyers love homes that offer flexibility, like a home office that can double as a guest room."
By focusing on these design tips, you can make your home more enjoyable for you and more appealing to potential buyers down the road. A multi-purpose room means a lot of things to a lot of buyers, so flexibility will maximize marketability when it's time to sell.
Additional Interior Decorating Tips
"Obviously, budget is a concern with any home improvement project, regardless of price point or added value. When possible, we highly recommend employing a good interior designer to help make the right choices and create a cohesive design scheme," reminds Tom. Designers have a good eye for the color wheel, and can also help advice on furniture pieces, window treatments, table lamps, blank walls (uh oh, another gallery wall?), and provide overall solutions to balance the amount of clutter and negative space. Furthermore, a kitchen design expert will focus on design elements like kitchen islands, overhead lighting, hardwood floors, and the relationship of the remodeled space to the dining table if it's in a separate room. Respect the design process, and you're nearly guaranteed to add meaningful value. (Plus, working with a professional designer also helps ward off decision indecision, and you won't accidentally end up with an all-white kitchen. Have you seen mine?)
Mickey adds, "Patchwork renovations, where different rooms bear no relationship to one another, can be worse than no renovation at all."
Tom Postilio and Mickey Conlon
Tom Postilio and Mickey Conlon
Tom chimes in once more cautioning homeowners with a blunt "Don't overdo it." He adds, "Before undertaking the task, we recommend engaging a qualified real estate agent to advise on buyers' expectations in your neighborhood. We once had a seller proudly exclaim that they had spent $400,000 on their kitchen renovation. We had the unfortunate duty of explaining to them why that was about $300,000 too much!"
