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and most used room in the house, kitchens tend to be a huge selling point in the real estate market, which makes an outdated kitchen a big no-no for a potential buyer.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

Turn Your Basement Into a Cold Weather Retreat

If you’ve ever considered a basement remodel, now is one of the best times. Between COVID-19 and the onset of winter weather, creating a fun space for your family to escape can both increase your square footage and add value to your home. Plus, you can shop this weekend’s sales for a great deal on home improvement supplies.

To transform an unfinished basement into a liveable space can range anywhere from $6,500 to $18,500 on average, according to 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 will be able to 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 longer 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 options. 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 a 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.

How To Choose the Right Contractor

With COVID-19 putting the kibosh on travel plans, plenty of homeowners are taking their travel savings and fixing or upgrading their homes to make life a little more comfortable. With any home remodeling project, one of the most daunting parts is finding the right expert for the job. You want to find someone who is local, reputable, and will give you a good fair price. So where do you start? Here are my top tips for finding a good match.

Ask for referrals.

When it comes to hiring an expert for remodeling or home repair work, you should look at it the same way you would for a doctor or an accountant. Start by asking friends, family or co-workers for a referral, or you can also try your local building inspector or the owner of the lumberyard in your area. Additionally, every tradesperson has a network of other home professionals they deal with regularly; so if you have a plumber but need an electrician, don’t be afraid to reach out. Local Facebook groups are also a fantastic way to search for recommendations. 

Trust your gut.

When meeting with professionals, your gut feeling is as important as anything else. Home improvement is a personal process so go at it in the same way you would a first date. Do you like the solutions and options the expert provides? Does he communicate with you in a way that’s clear and concise?  Do you feel comfortable that she will do the job the way you want it done? Don’t get caught up in special deals or flashy talk, trust your instincts, and go with a professional that feels more like a partner than a salesperson. A true expert will show his or her knowledge and educate you along the way.  

Don’t ask for a rough estimate. 

If you have a big job that you need to be done, there is no use in asking for a “ballpark figure”. Chances are that the prices quoted in the estimate will change once the contractor has a chance to understand what is specifically required. Certain things such as the condition of the property, the materials used for the job, and the personalization that you require will make up the price. Save yourself some time and confusion by making a list of what you really want before the contractors show up for the first appointment. Most professionals will give you an estimate for free so make the most of that opportunity by getting specific. Getting a good deal is important, but not if it means scrimping on quality workmanship. 

Do ask for a plan.

Understanding your costs is key, but it’s also a good idea to ask for a plan of action to ensure you are fully aware of both the process and the timeline for the job. A simple step-by-step explanation will give you the clarity you need to ensure that you and your contractor are on the same page and it will also help you plan around activities you might have going on. As a professional, I like to make sure the steps involved in a job are clearly articulated for two reasons; it gives my customers confidence in the project and it helps them understand all of the work being undertaken, especially the parts that might not be as obvious.  In my opinion, an educated customer is the best kind of customer.

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.