Home Remodels Worth Their Value

Many homeowners think that a renovation will automatically increase their house’s value if they decide to sell it in the future. But that’s not always the case. Personalized projects that are specific to the family or improvements that will require significant maintenance often end up discouraging potential buyers. Sure, you might think an inground swimming pool or a built-in aquarium might be a great idea, but the next owner of your home may not agree. So what are the best-renovating projects to reap high resale rewards?

Energy Efficiency Windows 

Homeowners who are old, young, first-time, seasoned, empty-nesters, or with young families all love a home that’s warmer in the winter, cooler in the summer, and easier on the wallet. According to the recent Cost Versus Value Report published by Remodeling Magazine, vinyl and wood window replacement nabbed 66% of their resale value in Hartford County. Windows are a fantastic investment and not only for their heating and cooling abilities. Replacement windows are easy to clean and they are excellent at reducing noise pollution. 

Kitchen Remodels

As the busiest and most used room in the house, kitchens tend to be a huge selling point in the real estate market, which makes an outdated kitchen a big no-no for a potential buyer. According to the same Cost Versus Value Report, a kitchen remodel is likely to get a seller more than 60% of their investment. What’s key is to stick to very neutral tones and a layout that suits cooking, eating, and gathering. Most people love an island that can be used for food prep as well as a casual eating space. Lots of storage will hit the mark too. 

Garage Doors

This may surprise you, but the highest-ranking home upgrade on the 2022 Cost Versus Value Report was a Garage Door Replacement which was valued at 98% of its cost here in the Hartford area. This means that most homeowners recouped nearly every dollar spent on the project when they sold their homes. Garages are an important feature in any house as every buyer wants to maximize their storage space. Plus, with more homeowners looking for additional living areas for home offices, giving the garage a little facelift isn’t a bad idea. 

Stone Veneer

Another big winner this year was adding stone veneer to the outside of a home, a project that recouped nearly 90% of its cost upon resale. For many potential buyers, a simple cosmetic upgrade that’s both timeless and upscale can really improve the curb appeal of a property. 

The “No Go”

With plenty of lucrative projects for the savvy homeowner, there is one area that generally takes a hit and that’s a bathroom. Adding a bathroom to a home can be expensive and the costs recouped is generally less than 40%. If you need an extra bathroom for your family and it makes sense for you, go for it. Just don’t expect the project to pay big when the “for sale” sign hits the lawn down the road.

Bob O'Donnell is the owner of O'Donnell Bros, Inc., a Bristol-based home improvement company established in 1975. Email your questions for Bob to info@odonnellbros.com with the subject line “Ask the Pro”. All questions may be considered for publication. To contact Bob for your remodeling needs, call O'Donnell Bros, Inc. at (860) 589-5155 or visit www.odonnellbros.com. Advice is for guidance only.