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ORLANDO, Fla. – Whether it’s a kitchen redo or a new front door, homeowners who undergo a home improvement project often find that the task was worth the investment and time, according to the latest remodeling report from the National Association of Realtors® (NAR) with insights from the National Association of the Remodeling Industry (NARI).
The 2019 Remodeling Impact Report, an examination of 20 projects, surveyed Realtors, consumers who have completed home renovation projects and members of the National Association of the Remodeling Industry.
The report examined a variety of remodeling projects and used responses to rank the appeal of a given project, the value of the project in terms of resale and its overall functionality. The study also looked into the reasons for remodeling, the success of taking on the various projects and the increased happiness reported in the home upon completion of the job.
After completing a remodeling project:
- 74% of owners have a greater desire to be in their home
- 65% experience increased enjoyment
- 77% feel a major sense of accomplishment
- 58% report a feeling of happiness seeing completed projects
- 38% say they have a feeling of satisfaction
NAR calculated a “Joy Score” for each project. The score is based on the happiness homeowners reported with their renovations – the more pleased with a given project, the better the Joy Score, with the highest possible score being 10.
Interior projects that received some of the higher Joy Scores are complete kitchen renovations, closet renovations, full interior and individual room paint jobs, kitchen upgrades and basement conversions to living areas. Exterior jobs with the highest Joy Scores were new fiberglass or steel front doors, new vinyl and wood windows and new roofing.
A complete kitchen renovation received a top Joy Score of 10. Ninety-three percent of those polled said they have a greater desire to be at home since the completion of their kitchen, and 95% said they have an increased sense of enjoyment when at home.
The most important result of a kitchen renovation is improved functionality and livability, according to 46% of those polled. As to the reasons why they decided to take on the project, 24% say they wanted to upgrade worn-out surfaces and materials. Another 20% report they had recently moved into their home and had a desire to customize the kitchen to their particular tastes.
Upgrading home closets was another task that received a 10 Joy Score. This is due in part to the inconvenience of a disorganized closet, which is something a homeowner encounters daily, often at the start of their day. When a closet renovation is finished, the sense of achievement is immediate. Thusly, 68% of those surveyed say they feel a major sense of accomplishment when they think about the completed project. Nearly three-quarters, 72%, report having a greater desire to be at home since finishing the job.
With a closet redesign, 56% say the most important result is better functionality and livability. Fifty-four percent say the top reason for doing the job was the need to improve organization and storage. Fifteen percent answered that it was time for a change.
Full interior paint job
Completing a full interior paint job in the home scored a 9.8 Joy Score. A finished paint job is usually visible in every room in a home, which speaks to how important a task this is to respondents.
A vast majority, 88%, say they have a greater desire to be home since having their home freshly painted. Eighty-six percent report feeling a major sense of accomplishment when they think of the project.
New fiberglass front door
The installation of fiberglass front doors is a highly rated exterior project, receiving a Joy Score of 9.7. Seventy-nine percent of polled homeowners say they have had a greater desire to be at home upon completion of the job. Sixty-seven percent say they have an increased sense of enjoyment when they are at home, and another 69% state that they feel a major sense of accomplishment when they think of the completed project.
New vinyl windows
New vinyl windows also received a very high Joy Score, 9.6, while 42% of those surveyed say the most important result is improved functionality and livability. As for the top reasons for doing the job, 47% say they had a desire to improve their home’s energy efficiency and 23% say they wanted to upgrade worn-out surfaces, finishes and materials.
Remodelers often take on projects with resale in mind, rather than their own home preferences. The report found the top projects for recovering cost are new roofing, hardwood floor refinishing and new hardwood floor installation. NARI remodelers estimate that new roofing costs $7,500, and Realtors estimate that new roofing helps sellers recover $8,000, on average. That equates to 107% of value recovered from the project.
Also, NARI remodelers estimate that new wood flooring costs $4,700, with Realtors estimating the project helps sellers recover $5,000, or a 106% value recovery. NARI remodelers estimate that hardwood floor refinishing costs $2,600, and Realtors estimate that the hardwood floor refinishing would help sellers recover $2,600.