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.

Waterproof Your Chimney Now to Avoid Costly Repairs Later

You may have never thought about exterior chimney maintenance unless you’ve had a problem, but because chimneys come up above the roof line, they are more susceptible to harsh weather than any other part of your home. That’s why spending a little time and money to waterproof and protect the area can save you thousands of dollars and plenty of potential headaches down the road.

If you plan on waterproofing your chimney, the first thing you’ll have to do is measure the surface area. Take care to measure all sides and add the measurements together to find the total surface area. This will help you to determine how much material you will need.

Now, it’s time to clean. Your chimney will most certainly have mold, dirt, rust, and stains on it, and you’ll want to remove them before starting the waterproofing process. I like Chimney RX Safer Brick and Masonry Cleaner which you can use instead of muriatic acid for the same cleaning power without the harsh fumes or risk of burns. Applying the solution is easy: just use one part cleaner with four parts water and apply to the area with a pump sprayer. You can then either scrub the surface or use a power washer to remove the debris. Let everything dry for at least 24 hours before moving on to the next step.

Next, you can start to prepare the area for any potential repair work. You don't want to damage your roof and shingles when waterproofing your chimney, so use a canvas drop cloth to cover the area as plastic can get very slippery. Make sure to cover over any windows or skylights that are in reach as well. Once waterproofing overspray has been applied, it will be incredibly difficult to remove.

If you have minor cracks in the chimney, now is the time to fill them. Chimney RX makes a Masonry Crack and Joint Sealant that works really well on small cracks up to one-eighth of an inch. It simply paints on and then dries a milky white color. However, if you have larger cracks or if you need any part of the chimney rebuilt or tuckpointed, I highly suggest calling a professional to manage the repair.

Once minor work has been completed, you’re ready to apply the waterproofing agent. Again, ChimneyRX makes a great product for the job. No matter what you use, be careful. Most people don’t realize that there is a difference between water repellent and sealant. A sealant will form a hard surface, trapping water inside and making the area susceptible to leaks, whereas a repellent will still enable the porous bricks to breathe and move the way they are supposed to.

Applying the sealant is as easy as the cleaning step - all you’ll need is a pump sprayer with a fan nozzle. The product that you use will give instructions for the amount that you’ll need, so just go by your surface area and the directions provided. I always suggest starting from the base and working your way up, applying heavy coats using a side to side spraying motion. Unlike painting, it’s a good idea to apply a “flood coat” first and then top it up with a second coat within just a few minutes to even it out. For areas that feel oversaturated, have a soft bristle brush handy. Also, be sure you’re working in good weather - while waterproofing products do dry quickly, you’ll want to give them a good six hours in the sun to fully set before a bout of bad weather.

Finally, just like any job on a roof, please make sure you’re comfortable with heights and working from a ladder before you tackle this project. The last thing we want us a trip to the emergency room from a nasty fall. When in doubt, always hire a pro to tackle the job.

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.

Investing in a Fixer Upper? Bobby O's Five Must-Read Tips

For a lot of young people, a first step onto the property ladder might mean purchasing an older home that needs a bit of work. Fixer-uppers can be a great way to enter the real estate market, especially if you’re handy around the house and know a thing or two about remodeling. But if you’re new to the game, getting swayed into paying too much for a rundown home that needs more work than it’s worth can be a real risk. Here are some things to think about before sinking your life savings into a piece of property:

Mr. Inspector

No matter what, always make sure you have an inspector look at the property and report on his or her findings. Lots of homes look perfectly fine on the outside but have expensive or even toxic damage hidden within the property. An inspector will document any issues he or she finds, and at the very least you should be able to use that information to negotiate the price with the seller. If major parts of the house such as the foundation or structural walls need replacing, or if the house has lead paint, lead pipes, or asbestos, you might want to rethink your potential purchase entirely.

Your Budget +15%

Be really clear about how much you are willing to spend to renovate your purchase into the house of your dreams, and be sure to include the cost of materials, the labor and any permits and paperwork in your estimate. Know that very few projects run to budget, so tack on an extra 15% to give yourself some breathing room. Think about what projects have to be dealt with immediately and which ones can wait. Broken stairs might need immediate attention, but the pink sink and bathtub might just grow on you – at least for the first year.

A Piece of History

Make sure you are aware of the historic status of an old home. Many people purchase houses in an area or zone that doesn’t allow the aesthetic to be changed, which could put a real damper on your dream plans. Also, know that historic restoration is much more expensive than a normal remodel, and it often requires specialists to get the job done right. Be aware of this before you buy.

Keep it Vanilla

A lot of young people buy fixer uppers with plans to remodel in a way that suits them personally. This is fine, but consider what types of projects will enhance the resale value of your home and attract a wide variety of buyers. Additionally, make sure that your remodeling plans keep your house in line with the other homes in the area. Real estate experts suggest keeping your home within 10-15% of the median sale price of other homes in the neighborhood. The last thing you want to do is spend a fortune to revamp a house and then not be able to sell it when the time is right. 

Your Crew

Once you decide on your fixer-upper, make sure you hire experts to handle each individual job. Many people are tempted to get one handyman to install the flooring, replace the electrical, and fix the plumbing as a way to save money. This usually comes back to bite the homeowner as no general contractor can be an expert at everything. Find a pro that you love and ask him or her for recommendations. Every contractor has other tradespeople that they feel comfortable introducing to their clients because they do great work. Remember, it’s their reputation on the line too.

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 visit http://www.odonnellbros.com. Advice is for guidance only.