The National Association of Realtors and the National Association of the Remodeling Industry teamed together to survey over 4000 homeowners for the reasons why they had recently remodeled their home, asking how much increased happiness resulted in the experience of their home once the remodeling project was completed. Based on a synthesis of their responses, a Joy Score was developed on a scale of 1-10, with 10 being the most joy. Twenty of the top home remodeling projects were individually rated. One must assume that all remodels ensure that energy compliance remains imperative.
Overall, the survey found that the average Joy Score for having their home remodeled was 9.4.
The top four reasons in responding to the question of what was the single most important result they wanted from remodeling their home were:
Better functionality and livability
Durable and long-lasting results, materials, and appliances
Beauty and aesthetics
Adding more of the owner’s personality to the home
And what three projects had some of the highest Joy Scores?
The addition of a new bathroom had a perfect Joy Score of 10; 64 percent reported that it made their home more livable and was easier to add features with a bathroom addition, such as a set of custom frameless shower doors, or a new bathtub installed into the space. Others cited changes such as tile replacement or regrouting. The national median cost, $50,000.
A complete kitchen renovation had a Joy Score of 9.8. The top reason given for the complete kitchen remodel was to upgrade the materials and modernize; 93 percent reported a major sense of accomplishment, 86 percent said they have an increased sense of enjoyment, and 90 percent said they want to be home more. The national median cost, $60,000.
A new master suite remodeling project had a Joy Score of 9.7. The top reason given for doing the project is the homeowners wanted a more functional and livable master suite and it was time for a change; 88 percent reported they have a greater sense of enjoyment of their home and desire to be at home. The national median cost $112,500.
If you are planning to have a part of your home remodelled by a Custom Home Builder, then you might want to keep the possible returns on your investments in mind. Of these three, Realtors found a complete kitchen renovation had the highest return on investment when it is time to sell the home, followed by a new master suite, and a bathroom addition.
Happy home remodeling!
Janet B. Cook, CAPS, President of Cook Remodeling who is celebrating their 37th year, blogs (with photos!) on cookremodeling.com. Visit their Pinterest and Houzz page for remodeling ideas to customize your home.