Home Upgrades To Reconsider

In my column last week, I talked about some of the renovation projects that will pay off if a homeowner decides to put their house up for sale. In other words, investing in home improvements such as new garage doors, vinyl siding, replacement windows, and stone veneer will end up coming close to paying for themselves when your house goes on the market. But what about the projects that don’t recoup their costs? According to the 2022 Remodeling Magazine Cost Versus Value Report, there are quite a few. Let’s take a look at the data. 

Upscale Master Suite Addition

If you’re thinking about upgrading your bedroom to a grand suite, make sure you’re going to enjoy it. According to the data, master bedroom additions in the greater Hartford area only recoup about 38% of their cost. Lavish bedrooms are very personal and a lot of people don’t spend much time in them, so if you’re about to go big with custom closets, extensive storage, and a grand master bath, know that the cost will be a lot more than the value.

Grand Entrance

Sure guests might be impressed with a gorgeous first impression of your home, but people are a lot more focused on useful spaces these days, so a fancy entryway might not go over so well in the real estate market. Here in the greater Hartford area, revamped entrances only recouped about 40% of their cost. 

Bathroom Additions

An extra bathroom might be a must for your family but it’s not guaranteed to pay for itself when you sell your home. In fact, a bathroom addition only recoups about 40% of its cost upon the resale of your home. Bathroom remodels do a bit better, netting about 50% of their cost in value. So if you’re thinking about how to maximize your bathroom potential, you’re better off renovating what you currently have instead of adding another.

Room Modifications

With people spending more time at home over the past few years, lots of homeowners have made modifications to make their homes more comfortable and accommodating. While I understand making adjustments such as a dining room conversion to a home office, these changes should be considered temporary. Permanent alterations of a standard room could be costly when it comes time to sell. 

We all want our homes to be a reflection of our unique style and a place that suits the way we live, but dramatic changes can be costly once you decide to move on. Keep that in mind when you’re taking on a renovation project and you’ll be sure to reap the benefits when you eventually sell. 

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.