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and most used room in the house, kitchens tend to be a huge selling point in the real estate market, which makes an outdated kitchen a big no-no for a potential buyer.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.

Taking Advantage of a Hot Real Estate Market

Getting ready to put your house on the market? There has never been a better time to do it. With city-dwellers flocking to find more space here in Connecticut and more young families looking to find larger living quarters, the demand for real estate in our area is sky-high. So what should you be thinking about to nab the best price for your home? Here are five ideas to consider:

Home Office Space

With so many people working from home for the foreseeable future, a dedicated space to stay focused during the 9-to-5 will be a worthwhile investment. A simple place away from the hustle and bustle of the rest of the house where productivity can be maximized will be high on the list for many house hunters. 

Indoor Outdoor Living

Even though it’s getting colder, people will be looking at how they can extend their living space outdoors. With more people spending more time at home, backyards and patios will begin to feel more like retreats with swimming pools, firepits, and kitchen/dining facilities taking center stage. 

Minimal Maintenance

While landscaping is an attractive element to any home, most prospective buyers don’t want to spend all their free time doing yard work, especially if they are moving to the suburbs from the city. Consider simple changes that make your greenspace easier to maintain. Clean beds and maintained grass offer a fantastic blank canvas for novice gardeners.

Nooks and Hideaways

With families spending more time together at home, everyone will be looking for a little bit of quiet and privacy. Window seats, reading nooks, and small dedicated spaces for the kids to play will be in high demand, which is a big departure from the open plan trends of the past decade. 

Bedroom Oasis

Bedrooms often end up last on the list in terms of design and detail, but will less of us going off on vacation, the bedroom is about to get a whole lot more luxurious. From high-end bedding to comfortable seating, bedrooms that can be transformed to feel like a hotel room will tick plenty of boxes on a buyer’s list.

With so much activity happening locally, this fall is sure to break some records and make for an interesting real estate season. Have the effects of coronavirus made you consider putting your house on the market? Has working from home or home-schooling made you think about a move? I’d love to hear from you, send me a message on Facebook at www.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 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.

Driveway Options To Lift the Look of Your Home

While it’s obvious that a driveway is a convenient place to park your car, it also offers considerable curb appeal and can increase the resale value of a home if a potential sale is in your near future. Of course, when choosing driveway material, there are many to consider and what works for one house might not work so well for another. So let’s go through the pros and cons of the four most popular options to help you make the best decision for your home.

Asphalt

This is the most popular driveway material and for good reason - it’s practical and easy to install. An average asphalt driveway can typically be laid in a day and if properly maintained, they can last for up to 30 years or more. An asphalt driveway is also a safe bet with our cold winters and hot summers as they can stand up to severe temperature changes. Sounds pretty good right? I think so, but there are a few drawbacks to be aware of. For starters, asphalt only comes in one color - black. So if you’re looking for something special to match the aesthetic of your home, you aren’t going to find it here. Another thing to consider is that asphalt does crack and crumble with age, but problem areas can be resealed so you don’t need to replace the whole driveway with every blemish.

Gravel

For people looking for a driveway solution on a budget, gravel might be the way to go. While they aren’t as popular as they once were, gravel is great for very long or intricately shaped paths. On the flip side, using loose stones can get very sloppy and you’ll likely find yourself regularly going out to get new materials to replace what’s been lost from both the weather and everyday use. Gravel is also tough to plow and shovel, so take that into consideration if your driveway gets a lot of snow.

Pavers

No one can deny the beauty of a brick or stone driveway. Homeowners love them for an upscale look that can mimic the style of the property while still offering a strong and reliable material that will last for decades. Of course, with beautiful pavers also comes high product and labor costs as each piece will have to be laid by hand. Take this into consideration when you’re thinking about which material to use as paver installation will likely have your driveway out of commission for a lot longer than some of the other options.

Concrete

If you’d like a driveway with some individuality but don’t want to fork over the cash for pavers, concrete might be your best bet. Concrete is poured quite easily so the installation is relatively fast, although you’ll need to wait a week to drive on it. There are also many options to stamp or dye the material to create a unique look, including mimicking the design of pavers. While concrete is still more expensive than asphalt, it also lasts a really long time - 30 years or more. The downside? Concrete can be susceptible to cracking and can be pricier to fix.

No matter what type of driveway material you decide on, the end result will only be as good as what’s underneath the material. A qualified professional will discuss elevation, drainage, and environmental factors to help you make the best choice for your home.

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.