Friday Finds: College Edition 🎓
Last week, I moved my son into his dorm.
And just like that, our house got really quiet.
There’s something about dropping your kid off at college that makes you look at things a little differently. The boxes, the shopping trips, the endless list of things they “need” for a dorm room—and then knowing that in May, you're going to take it all back down again.
It got me thinking about how we spend our money.
What If That $20,000 Went Toward Real Estate Instead?
Some families spend $20,000 or more getting their college kid's dorm room ready for the school year.
New furniture. Rugs. TVs. Bedding. Décor. Kitchen gadgets. Storage. And all the little things that supposedly make a temporary dorm room feel like home.
But here's the thing:
You're going to take it all down again in May.
So instead of spending $20,000 on a temporary living space, what if you put that money toward something that could potentially build equity?
Buy Your College Kid a Condo
If the numbers work, consider purchasing a condo near the college your child attends.
Your college student gets a place to live. You own an asset that could appreciate over time. And if the property allows it, your student could rent out a bedroom to a roommate and use that income to help offset the monthly expenses.
After graduation, you have options.
You could sell the property, keep it as a rental, or continue building equity while your child moves on to the next chapter.
Of course, this isn't the right strategy for everyone. Financing, HOA rules, insurance, taxes, rental restrictions, location, and the individual property's numbers all need to be considered.
But if you're already prepared to spend a significant amount of money on college housing, it's worth running the numbers.
And timing matters, too.
If you start looking now, find the right property, and close in October, your first mortgage payment may not be due until November or December, depending on your closing date and lender's payment schedule.
That could give you some breathing room to get the property ready and, if appropriate, find a roommate.
Before You Renovate Your Home, Ask This Question
The college dorm conversation also reminded me of another real estate lesson I've seen firsthand:
Just because you can update your home doesn't mean you should.
I had neighbors whose home had been a mess for a long time.
Last year, I suggested that they consider selling the home in its current condition and letting someone else take on the updates.
They were tight on cash, and I thought it was worth considering. Instead of pouring more money into a house that needed a lot of work, they could sell it, move on, and let the next owner deal with the renovation.
They decided to take a different route.
For the next entire year, they worked on the property.
They spent money. They made improvements. They tackled projects that really did need to be completed.
Eventually, they put the home on the market and sold it.
The frustrating part?
They sold it for $20,000 less than I had originally suggested they could get for it.
But here's what makes the story even more painful.
The new owners purchased the home for even less than the previous owners had listed it for.
And now?
They're gutting the entire property and redoing almost everything again.
Think about that.
My neighbors spent an entire year updating the house and putting money into improvements. Then they sold it for less than I had suggested they could have gotten a year earlier.
The new owners came in, bought it for less, and decided that many of those improvements weren't what they wanted anyway.
Was all that money wasted?
From an investment standpoint, it certainly didn't produce the return my neighbors were hoping for.
And that's the lesson.
Not every improvement is an investment.
Some renovations absolutely make sense. They can help a home sell faster, make it more appealing to buyers, or increase its value.
But other projects are really about personal preference.
And there's nothing wrong with making your home exactly the way you want it if you're planning to stay there.
The problem comes when you spend tens of thousands of dollars assuming you'll get all of that money back when you sell.
My Suggestion
Before you start a major renovation, let's talk.
Tell me what you're planning to update, and let's discuss whether I think it will bring value when you sell.
What does the neighborhood support?
What are buyers actually looking for?
Which improvements are likely to make a difference?
And, perhaps most importantly, how much of that money are you realistically going to get back?
Sometimes the best renovation is the one you don't do.
What's Happening in the Salt Lake Market?
The Salt Lake real estate market continues to give buyers and sellers plenty to think about.
Salt Lake City’s median sale price was around $609,000 in June 2026, up approximately 3.5% from the previous year. Homes were spending roughly 29 days on the market.
In Salt Lake County, the median single-family home price reached approximately $645,000 in Q2 2026, representing about 4.9% year-over-year growth.
The market isn't the same for every neighborhood or every property, though. That's why broad market numbers are helpful—but they shouldn't be the only numbers you look at.
Your home's location, condition, price point, competition, and potential buyers all matter.
Thinking About Buying or Selling?
Whether you're helping a child get established at college, thinking about buying an investment property, or wondering whether you should renovate before selling, let's look at the numbers before you spend the money.
You don't always need to spend more to make more.
Sometimes, the smartest financial decision is simply knowing where not to spend your money.
And if you're curious about what's currently available in the Salt Lake market, take a look at my featured properties:
Featured Properties → https://www.saltlakehomepros.com/featured/
If you're thinking about buying, selling, or investing, I'd love to help you figure out what makes the most sense for your situation.
Nancy Bergman
Salt Lake Home Pros | Fathom Realty
858-617-9449
South Jordan, West Jordan and all of Salt Lake City