Home Upgrades Worth Their Resale Value

For a lot of us, much of the past year has been spent thinking about how to make our homes more comfortable. With so much still hanging in the balance, I thought it might be worth talking about the types of remodeling projects that score big points in the real estate market, and which ones might not be so lucrative if you decide to sell your home. 

People generally think that any kind of upgrade to the home is going to raise its value. But that’s not always the case. Highly customized renovations that are specific to your family or jobs that will require a fair bit of maintenance actually end up discouraging potential buyers. Sure, you might think a wall to wall aquarium in a basement bonus room 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 is easier on the wallet. According to the 2020 Cost Versus Value Report published by Remodeling Magazine, vinyl and wood window replacement nabbed nearly 80% 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and most used room in the house, kitchens tend to be a huge selling point in the real estate market, which makes an outdated kitchen a big no-no for a potential buyer.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 mid-range kitchen remodel is likely to get a seller upwards of 63% 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 2020 Cost Versus Value Report was a Garage Door Replacement which was valued at 104% of its cost here in the Hartford area. This means that most homeowners actually made more than they 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. 

The “No Go”

With plenty of lucrative projects for the savvy homeowner, there is one upgrade that’s not worth the spend if you’re planning on selling your home. According to the report, bathroom additions are an expensive project and not one that potential buyers really appreciate. An average $50,000 mid-range bathroom addition netted only 43% of its cost and an average upscale bathroom addition recouped only 38% of its cost. Between structural changes, plumbing, and fit-out, this is one project that might not be worth the investment if you’re planning on a home sale in the near future. 

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.

Cost Versus Value 2019: Home Remodeling Projects That Will Pay Upon Resale

One of my favorite things to review is the annual Remodeling Magazine Cost Versus Value Report which comes out at the end of January. This report compares home renovation projects by assessing their cost and their value in terms of resale if and when a house is put on the market. I always find this information to be extremely valuable and I love sharing it for two reasons: it gives my readers an idea about which remodeling projects will actually pay off in the long run and it also uncovers some less glamorous projects that can fetch bigger dollars on a home sale. One of the things I love about this report is that it gives remodelers and owners a glimpse at national trends, but it also breaks it right down on a local level. So let’s jump into the projects that are paying off right here in Hartford County.

Topping the list for 2019 is garage door replacement which, at an average cost of $3,717, will net you an average 99.9% back upon the resale of your home. Garage door replacement actually took the top spot locally, regionally, and nationally for the first time. It also just so happens to be one of the cheapest home remodeling jobs you can do.

Another big category was outdoor improvements with both deck additions and stone veneer upgrades recouping three-quarters of their costs. Here in Hartford County, a wood deck addition netted a homeowner 78% of its cost on an average $14,000 project and stone veneer came in at 73% cost recouped on a project under $10,000. My take on this is that people value both curb appeal and outdoor liveability, and smaller projects that make a house look like the best on the block can mean a major payoff in the long run.

Rounding out the rest on the top of the list in Hartford were minor kitchen remodels, midrange bathroom remodels, and siding and window replacements which all scored well above 50% in terms of their cost versus resale value. Again, investing in these types of projects which both beautify and modernize the home are smart spending and projects such as window upgrades are also both practical and cost-effective since they offer major bonus points in the energy efficiency department.

But what about the projects that don’t deliver as much value? At the bottom of the list were additions with a new luxury master suite netting only 45% of the costs outlaid and a bathroom addition only earning 47% on resale. My take on this? Bedrooms and bathrooms are highly personal and for these higher priced remodeling jobs, it’s tough to get someone to want to pay a premium for a costly job that might be unique to your family. If a bathroom or bedroom addition is in your future, try to tackle it with a flexible plan in mind and know that if a real estate transaction is in your future, a new family might not be as keen on a French bidet and walk-in dressing room as you are.

If you’re interested in the full report, you can access it here. Happy remodeling!

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.

Organize your garage with these simple steps

If your garage looks like it has recently been hit by a cyclone, spring is the perfect time to get it back into usable shape.

Start by taking everything out of the garage and separate items into categories on the driveway - tools in one area, sports equipment in another, automotive materials in a third, and so on. As you’re categorizing, think about what you use and what you don’t. If you haven’t touched an item in 12 months, you probably don’t need it. Create three dumping piles; one for goodwill, one for garbage collection and one for safe waste disposal. Be realistic and efficient during this process because there’s little reason to clean clutter just to put it all back again. I’m pretty sure no one needs four pairs of pruning shears or a collection of broken, uncomfortable snow shovels. If you don’t use it, let it go.

Once you’ve removed everything from the garage, take care to clean the floors thoroughly. It’s always a good idea to safely discard any sand, salt or melting activator that’s still scattered around from our recent snowstorms. Also, make sure you clean any fluid that may have spilled or leaked from the car. These materials can often be fire hazards and are very harmful to pets and small children. Did you know just one tablespoon of antifreeze is enough to kill a cat? Don’t take the risk.

Once you’ve cleaned, it’s time to assess the area and decide on appropriate shelving and storage solutions. You can find everything you need at your local home improvement store, but make sure you think out of the box and use as much wall and ceiling space as possible. Personally, I love ceiling mounted racks to hold items that are used infrequently, such as holiday decorations. I also hang my mountain bikes from hooks mounted to the ceiling as they take up too much floor room otherwise. 

Once you’ve analyzed what you can hide up and away, it’s time to tackle the walls. I am a big fan of slat wall panels and pegboards because they are so versatile and customizable. You can hang anything from hooks to containers, which means ladders and large tools can have space off the floor and smaller hand tools and other items can be organized into category-specific bins. The key here is to be able to hang as much as possible so you free up your floor space for items that can’t be suspended, such as the lawnmower.

I always suggest keeping your floor as clear as possible so you can access what you need easily, and you can clean frequently too. If you must use floor space, consider investing in rolling cabinets or tool chests, which will be much easier to move as the seasons change and you need access to different areas of the garage.  

A clean, organized space will make your life a whole lot easier because it will allow you to find what you’re looking for and will help you keep an eye on items or materials that can leak or attract unwanted insect or rodent company. It’s not the most fun project, but it can be a huge time and patience saver for years to come.