Certain home remodeling projects are making homeowners happier and proving to be well worth the cost and time when they sell their properties, according to a new survey from the National Association of REALTORS®, which includes insights from the National Association of the Remodeling Industry.
After completing a home remodeling project, 74% of more than 2,100 consumers surveyed reported having a greater desire to be in their home, 65% say they experienced increased enjoyment, and 77% felt a major source of accomplishment, the 2019 Remodeling Impact Report shows. Researchers examined 20 projects and surveyed REALTORS® and consumers on home renovation projects.
“REALTORS® and homeowners alike recognize the value of taking on a major home remodeling project,” says NAR President John Smaby. “While these tasks can be time-consuming and costly, the projects are well worth the temporary inconveniences, as this report shows, and the final products ultimately reward us with feelings of accomplishment, satisfaction, and higher home values.”
NAR calculated a “joy score” for each home remodeling project studied. The score, a scale from one to 10, is based on homeowners’ overall perceived happiness with their renovations. The higher the joy score for the project, the more homeowners felt satisfaction from it.
Some of the highest joy scores for interior projects centered on complete kitchen renovations, closet renovations, full interior and interior room paint jobs, kitchen upgrades, and basement conversions to living areas.
The exterior jobs with the highest joy scores were new fiberglass or steel front doors, new vinyl and wood windows, and new roofing.