Renovating a property and selling it can net a profit, especially if renovators use proper measures to safeguard the project. It begins with selecting the right property and avoiding common mistakes, such as ignoring the target market, investing in expensive technology, and neglecting curb appeal.

Properties that sell below fair market value and suburban median prices become great candidates for renovations since individuals can sell them for a profit. However, property owners should remain aware of the local demographics. Then, they can tailor renovations and improvements to suit the potential target market instead of renovating it according to personal tastes and preferences. For instance, embracing a neutral but classy design may attract more buyers and increase demand for a property.

Next, smart home technology has become popular among some population segments. However, when renovating for profit, adding expensive technology may not necessarily boost a property’s value unless sellers target high-end buyers. More buyers care about the functionality and practicality of amenities such as kitchens and bathrooms.

Finally, sellers must consider the property's curb appeal. Curb appeal determines a buyer’s first impression of a property, so ensuring it looks attractive from a distance remains important. Some of the best ways to boost curb appeal include replacing the mailbox, repainting the front door, and adding shrubs or flower pots.