Real Estate Rules

5 ways to maximize your DFW home's value — and 5 features that'll cost you

Carpet is a no-no.

Photo courtesy of Opendoor

When it comes to selling a home, one thing is certain: homeowners always want to get top dollar. To boost their home's value, many embark on renovation projects hoping, but not knowing, that those upgrades will significantly increase their bottom line when it comes time to sell. Questions like, "Will I see my money back from that bathroom facelift?" or "Is installing quartz countertops in my kitchen worth it?" abound.

As we head into the slower fall real estate season, when many homeowners opt to stay put and contemplate selling next year, the list of potential projects might be top of mind. So what should you focus on? If you want to tackle just one project this year, what should it be?

Local real estate company Opendoor just launched a Home Improvement Value Calculator that eliminates the mystery by enabling homeowners to see how much certain upgrades can increase their overall home value.

Looking at Opendoor data for homes valued around $300,000 in Dallas-Fort Worth (close to the current median price), here are the five upgrades that typically provide the biggest boost, along with the average increase in value:

Add a pool: $21,350 (7.12 percent increase)
Add 150 square feet of interior living space: $14,850 (4.95 percent)
Add a second or third bedroom: $14,750 (4.92 percent)
Add hardwood flooring: $13,550 (4.52 percent)
Convert existing living space to a second or third bedroom: $8,600 (2.87 percent)

Opendoor also looked at data from the past year to identify which existing home features could be costing homeowners thousands. Here are the top five offenders, along with the average reduction in value for each:

Carpet as a primary floor type: -$5,400
Formica or tile kitchen counters: -$5,000
Carpet in the master bedroom: -$4,100
Located on a busy street: -$2,800
Low-quality cabinetry: -$2,700

As the largest acquirer of single-family homes throughout Dallas-Fort Worth, Opendoor is able to analyze individual home features and understand how they add to (or detract from) the overall value of a home. The company has been keeping Fort Worth buyers and sellers in the loop on real local estate trends since 2015, and has served over 10,000 local customers.

For sellers not interested in undertaking stressful, pricey renovation projects to get their home "open-house ready," Opendoor is a dream come true. Homeowners can go to opendoor.com to begin the no-obligation process today and Opendoor will provide a competitive, all-cash offer within 24 hours, regardless of whether or not a home has been remodeled.

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Opendoor's calculator is offered for educational purposes and is not a guarantee of return on investment. Individual results may vary.

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T-Shirt News

Fort Worth clothing brand Dickies to relocate HQ to California

Dickies

Dickies T-shirt

After more than a century, workwear clothing brand Dickies is leaving Fort Worth for new headquarters on the West Coast. It will be moving from its current space at 500 Taylor St., at the top floor of The Tower, to California, with an estimated completion date of late spring 2025.

The company is relocating to Costa Mesa, home of its parent VF Corp, the footwear and apparel firm that owns brands such as Vans, The North Face, Timberland, Jansport, and Eastpak; VF Corp acquired Dickies in 2017.

"By co-locating Dickies with our Vans team in Costa Mesa, we will create an even more vibrant campus where creativity and best practice sharing can thrive through greater collaboration and connections – creating a dynamic and innovative environment similar to our other VF co-branded offices," says a Dickies representative in a statement, according to NBC 5.

According to Dickies, about 120 employees at the headquarters will be affected, but not those working at the local distribution facility, warehouses, and stores.

"We are deeply grateful for our Dickies associates’ dedication and hard work and want to recognize the camaraderie and commitment they have shown to the brand," the Dickies representative said in a statement. "Our priority is to ensure that everyone is treated with respect and care throughout this process. We will provide resources and assistance to help them navigate the next steps in their careers."

Fort Worth Mayor Mattie Parker chimed in on the relocation decision, stating that it's an example of a Fort Worth success story.

"While we understand companies are sometimes forced to make difficult budget decisions under new leadership, we think VFC will find – as others have – that Fort Worth, Texas is ultimately a more competitive place to do business,” Parker said in a statement.

Established in Fort Worth in 1922, Dickies brand impact, which was first founded by C.N. Williamson and E.E. "Colonel" Dickie, will still be felt, even after it leaves the city: In 2017, it gained naming rights to the 14,000 square-foot Dickies Arena next to the Will Rogers Memorial Center, and later opened in 2019.

According to the company, the California move will be managed over an "extended transition period." It's expected to be completed by May 2025.

"While this was a tough call, we are confident this change will help us revitalize Dickies so we can carry on the brand’s heritage for years to come," said the company representative.

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