Home Renovations That Offer Return on Investment

Embarking on home renovations isn’t just about enhancing your living space; it's also an investment in your property's value. Whether you're gearing up to sell or simply aiming to create a more comfortable and stylish home, strategic renovations can offer a substantial return on investment (ROI). 

As a remodeler, there are tried and true home improvement projects known for their potential to elevate both aesthetics and property worth. From kitchen overhauls to energy-efficient upgrades, let’s talk about the renovations that can not only transform your living space but also prove to be wise financial decisions in the long run. Here are some of my favorites that strike the perfect balance between functionality and added value:

Kitchen Remodeling: upgrading countertops, cabinets, appliances, and lighting can enhance both aesthetics and functionality.

Bathroom Renovation: modernizing bathrooms with new fixtures, tiles, and amenities can add value to your home.

Curb Appeal Improvements: enhancing the exterior with landscaping, fresh paint, and an inviting entryway can significantly boost curb appeal.

Energy-Efficient Upgrades: installing energy-efficient windows, doors, insulation, and HVAC systems can attract eco-conscious buyers and reduce long-term utility costs.

Basement Finishing: converting a basement into a usable living space, such as an extra bedroom, office, or entertainment area, can add square footage and appeal.

Attic Insulation: adding insulation to the attic can improve energy efficiency and appeal to buyers looking for homes with lower utility bills.

Deck or Patio Addition: outdoor living spaces can be attractive to potential buyers, especially in areas with favorable climates.

Smart Home Upgrades: adding smart home features, such as a programmable thermostat, security system, or lighting, can make your home more appealing to tech-savvy buyers.

Garage Door Replacement: upgrading the garage door not only enhances curb appeal but also improves energy efficiency and security.

Hardwood Flooring Installation: many homebuyers prefer hardwood floors, so replacing carpet with hardwood can be a wise investment.

Additional Bedroom: adding an extra bathroom can significantly increase a home's value, particularly if it’s a flexible space that can be used as an office.

Painting: a fresh coat of paint, both inside and outside, can make a home look well-maintained and appealing.

Before embarking on any renovation project, it's crucial to research local market trends and consult with real estate professionals to ensure that your investment aligns with the preferences of potential buyers in your area. Keep in mind that each improvement is an investment with the potential for lasting returns. Whether it's the heart of the home, a welcoming curb appeal, or the integration of smart technologies, strategic renovations not only enhance your living experience but also position your property as sought-after in the real estate market. 

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.

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.

Prep Your Home for Sale with These Five Updates

In this white-hot real estate market, selling the family home could be a serious consideration coming into summer. While a big renovation project might not be in the cards considering the cost of supplies such as lumber, there are plenty of smaller “spruce up” options to breathe new life into your home and make it attractive to potential buyers. Here are a few ideas. 

The Kitchen

A kitchen is almost always the hub of a house, even for non-cooks. People love to get together to make meals, chat about each other’s day, and enjoy casual snacks in a comfortable common space. For any potential buyer, a kitchen design that’s clean, functional, and snazzy will help to increase the sale price. Just remember to keep your updates neutral enough to appeal to lots of potential buyers. Freshly painted cabinets and new hardware can completely transform the room.

Curb Appeal

First impressions are crucial when listing a house on the market. It goes without saying that a roof streaked with mold and overgrown landscaping will turn people away. Consider power washing the house and tap into your inner green thumb to maintain plants and shrubs. You’d be shocked at how much of a difference a few small changes will make. 

The Master Suite

With the stress we are dealing with day in and day out, a quiet oasis away from it all is very appealing. A master bedroom complete with an ensuite is always a wise investment, especially if it’s relaxing. Soaking tubs, double sinks, and large closets have mass appeal, and paying attention to little extras can help people see themselves enjoying their potential new home. 

Backyard

As we’re getting closer to summer, people are excited to get outside and host small groups at home. From firepits to barbeque areas, privacy fencing to comfortable seating areas, making the most of a yard is a sure-fire way to encourage buyers to consider your home. An additional living space, such as a three-season porch, is also a huge bonus. 

Paint

Lots of homeowners paint their interiors to suit their lifestyles. That might mean bright blue and pink-colored bedrooms for kids and a few old trends that have seen better days. Repainting with neutral grays, bright whites, and warm taupe tones will give a home an instant facelift without too much expense or effort. 

Have you thought about giving your home a mini-makeover to get it ready for sale? What are your favorite tips? I’d love to hear from you, send me a message on Facebook at facebook.com/odonnellbros

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.