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.

Refinish a Basement for a Warm Winter Retreat

If you’ve ever considered a basement remodel, now is one of the best times. Creating a versatile space for your family to enjoy can both increase your square footage and add value to your home. Plus, it makes a fun escape from the winter weather and you can shop after holiday sales for some good deals on supplies. 

To transform an unfinished basement into a liveable space can range anywhere from $6,500 to $18,500 on average, according to an analysis by Home Advisor. What are the major factors that drive the price differential? Setting up plumbing for a new bathroom or kitchen can be expensive as well as any mold removal, leaks, or general structural issues that need to be taken care of. 

Mold and moisture are common basement problems that you’ll need to look into if remodeling is in your future. Most professional finishing specialists can advise on waterproofing to ensure that your space isn’t going to have any unexpected issues. Many basements are generally underinsulated and have leaky windows so if you’re going to improve the space, these basic updates are well worth the cost. Plus they’ll help the energy efficiency throughout your entire house. 

Once the basics have been considered, you’ll need to think through what you’re using the space for. Do you envision a home theatre or a mancave for Sunday football? Would a playroom for the kids be the perfect addition or is a teen hangout more your speed? No matter what you decide to do, think long-term. Little kids grow quickly and teenagers will soon be out of the house, so design for flexibility and change.

Whatever you decide to use your space for, one of the most important considerations will be low ceilings and light. Recessed lighting is a great option as it gives the illusion of height and it’s easy to install, especially if you’re working with a drop ceiling. Speaking of drop ceilings, you won’t believe how many stylish options there are to make those squares pop. From clean modern lines to pressed metal, basement ceilings can actually be a lot of fun to design. There are even acoustic absorption solutions to help control noise from televisions and home theatre systems. 

Next, consider your storage needs. Most people use their basements to keep clutter out of sight, but once the space is remodeled, where will all that stuff go? I am a big fan of creating zones in the basement that can be used for different people with different needs. I always recommend keeping at least one section available for those old clothes, holiday decorations, and air conditioning units as storage space is a valuable commodity in every family home. The key is to keep the clutter to a minimum. 

With all the basics considered, it’s time to have fun designing your space. A basement is a great place to experiment with an aesthetic that’s more daring than the rest of the house but the key is to keep it comfortable and transitional. Lastly, if a real estate transaction is in your 10-year plan, think about the next family that might be making memories in the home. A basement remodel can add serious dollars to your list price if it’s done appropriately.

Bob O’Donnell is the owner of O’Donnell Bros. Inc., a Bristol-based home improvement company established in 1975. Email your questions 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 visithttp://www.odonnellbros.com. Advice is for guidance only.

Rental Property Upgrades

The current real estate market is a lucrative one for many rental property owners. Whether it’s short, weekly visits, or long-term tenants, having a second property that can be rented out is a smart move, especially considering how many people are looking for places in our area. So whether you’re ready to list on Airbnb or you’re interested in a long-term tenant, here are a few things you can do to make the most out of your investment property. 

Treat it like a house, not a home. Spending time and money creating the perfect aesthetic is a waste because the people who will be occupying the property likely won’t have the same taste that you do. Instead, focus on function while maintaining an inviting and warm atmosphere. Keep it simple and comfortable to appeal to a wider audience.

Upgrade kitchens and bathrooms. These rooms are key for rentals as they generally come “as-is” with fewer furniture and styling opportunities. With a kitchen, be sure that there is plenty of storage and that the appliances are clean and new. For the bathroom, make sure it’s absolutely mold-free and has good ventilation. Everyone loves a strong, hot shower but no one wants a bathroom riddled with mildew from the heat and humidity. Again, it’s important to remember that no one is going to treat a rental property with the same love and care as their own house, so plan for wear and tear.

Keep it clean. Walls and carpets can get used and abused pretty easily, but most of the time they can look new with a thorough clean. Before you go ripping, replacing, and repainting, see what you can do with a Magic Eraser and a carpet cleaner which can be rented from a home improvement store for around $30 per day. If your walls and carpet are damaged and you need to repaint or replace them, stick with simple, neutral colors that are easy to clean and will complement any style.

Fixture focus. One inexpensive upgrade is giving the fixtures a facelift. Cabinet knobs, door handles, blinds, and lighting can give a dated space a whole new look without spending a fortune. I can’t tell you how many homes and apartments I have been in with broken, plastic mini-blinds that make a whole room look dark and dingy. A simple replacement using wide faux wood blinds or a simple and easy-to-clean panel shade can really change a room on the cheap.

A picture is worth. Good quality photography can really make a listing shine. Professional images will get more people interested in your space, giving you a wider selection of better prospects to choose from. Attracting good people who will take care of your property is key and will save you a lot of money and headaches in the long run, so it’s important to go the extra mile to find them.

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.