The Sky-High Price of Wood

If you’ve recently considered a remodeling project and are scratching your head at the cost, you’re not alone. The cost of lumber has reached record highs, up over 200% from one year ago, making most building and remodeling projects more expensive than they would have been pre-pandemic. 

So why the sky-high costs for wood? It’s mostly attributed to the housing shortage. With more people wanting to move from the confines of the city into the suburbs, new construction and renovation are booming. Then there are restaurants and small businesses that had to build outdoor seating structures and other accommodations to keep their customers safe and comfortable. Pair those factors with sawmills playing catch up from slowing production early in the pandemic and you have a classic case of over-demand and not enough supply. Hence the price of wood. 

To put it into perspective, the price per thousand board feet of lumber jumped to an all-time high of $1,104, or roughly $1.10 per two by four. Right now, one sheet of plywood costs upwards of $50 or more. 

If you’re building a new home, the lumber you’ll need is going to cost you four times what it did one year ago. If you are thinking about renovating your current home, you’re going to be out of pocket as well. As the average age of the American home reaches 45, remodeling is not just an item on the wish list. For many, it’s a necessity. 

You might be thinking, “what goes up must come down,” right? Yes, but not anytime soon. Homeowners are still renovating and remodeling like never before, especially with real estate prices at all-time highs. Demand for new construction isn’t going to let up either. For now, homeowners who want to build will just have to come to terms with the increase in price. 

That’s not to say that you should ever compromise on quality. When looking for a contractor, make sure they are reputable, experienced, and can break down the costs of the job with 100% transparency. Also, keep in mind that the cost of supplies to the contractor is higher than ever before and they might very well be absorbing some of that cost to get you a price you’re happy with. Take all of this into consideration and make sure you do your homework before you sign on the dotted line.

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

Handy Home Improvements for Aging in Place

Will you stay or will you go? That’s the question that many retirees face as they age. 

According to a recent AARP poll, 90% of people surveyed planned on living at home for at least five to 10 years after they turned 65. So why is staying put such a popular choice? In addition to comfort and proximity to family, another is certainly cost. The average renovation budget for aging in place adds up to around $10,000 versus an assisted living facility which can average around $50,000 per year or much more. 

If you or your parents are considering aging at home, there are some things you can do to make a house more comfortable and safer as getting around becomes increasingly challenging. Popular upgrades such as widening doorways and fitting a walk-in shower should be done by a professional but there are also small things any homeowner can do to start getting prepared. Here are some great DIY ideas:

Grab Bars

A simple grab bar can make everyday tasks like using the bathroom and taking a shower a lot less dangerous. One thing to remember is that a grab bar will potentially have to hold the full weight of a person, so be sure to screw it to wall studs as opposed to sheetrock and pay attention to the weight limit of the bar. In addition to bathrooms, a bar by the bed can help someone with mobility issues get in and out easily.

Ramps

People tend to think that ramps are just for wheelchairs, but that’s not the case. Stairs are a major tripping hazard for anyone who is getting older. Small threshold ramps can be installed between rooms inside while a larger 16-foot ramp will generally suffice for the transition from inside to outside. 

Smart Technology

There are so many fantastic tech options to make aging parents more comfortable while giving their loved one’s peace of mind. From temperature controls to automated blinds, lighting to entertainment systems to locks, being able to control the home with a smartphone can give a mature adult a lot more freedom. Safety systems have come a long way since the “I’ve fallen and I can’t get up” days, with sensors and cameras that can detect changes in movement and routine better than ever before.

Doorknobs

Common issues such as arthritis can make opening doorknobs painful and difficult. Lever handles are a much better option and an inexpensive fix. Similarly, furniture and kitchen knobs should be swapped out with bar-style handles for easier access.  

Electric Stair Lifts

While they are one of the most expensive improvements, a chair to help navigate stairs is a must for people with muscular weakness or walking problems. In addition to physical safety, most people are comforted by knowing there is a safe way to get between floors without fear.

No-Slip Flooring

Falls are the most common cause of injury and death for older Americans and many take place in the bathroom. Replacing or covering the flooring with a non-slip surface is a smart preventative measure and can help reduce the risk of an accident when the floor becomes wet. Many options are simple to install and materials can be found at most local home improvement stores. 

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.

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.