Janet Cook
The National Association of REALTORS Research Group, together with the National Association of the Remodeling Industry (NARI), surveyed its members in 2002 to get a report on clients who had remodeled in the past year to ascertain how happy they were when living in their completed project. A Joy Score was calculated considering those who reported being happy and those who said that they were satisfied seeing their completed project. The survey also found that there was an overall greater demand for remodeling, with homeowners doing larger projects that included multiple rooms.
A typical Joy Score of the result of remodeling was 9.6. The most important result was to have a home with better functionality and livability for their lifestyle (35%), whereas 22% reported the most important result for them was better durability (quality) and long-lasting results for the materials and appliances. The third-ranked most important result was experiencing beauty and aesthetics (14%). What projects brought a higher-than-average Joy Score?
Note: REALTORS estimated 19 of the projects’ cost of recovery (ROI) is included in parenthesis if they were to put their home up for sale in the current market.
Projects with a perfect Joy Score of 10
Add a home office, wood flooring (118% if new, 147% if refinished ROI), closet renovation (83% ROI), attic conversion to living area (75% ROI), insulation upgrade (100% ROI), interior painting
Projects with a Joy Score of 9.8
Complete kitchen renovation (75% ROI), upgrade kitchen (67% ROI), exterior paint
Projects with a Joy Score of 9.7
Basement conversion to living area (86% ROI)
Projects with a Joy Score of 9.6
Bathroom renovation (71% ROI), vinyl or wood windows (67%, 63% ROI)
Projects with a Joy Score of 9.5
Add/upgrade laundry, new steel or fiberglass front door (63%, 60% ROI), add a new primary bedroom suite (56% ROI)
Overall, upon completion, 84% reported to have a greater desire to be in their home, 69% have increased enjoyment in the remodeled space and feel a major sense of accomplishment, and 57% reported feeling happy that they had it done.
Joyful home remodeling! Chag Hanukkah sameach, and have a Merry Christmas!
Janet Cook, Certified Health Coach and Aging in Place Specialist, President of Cook Remodeling (celebrating their 44th year), invites you to check out their website for photos and more ideas.