The National Association of Realtors and the National Association of the Remodeling Industry teamed together to survey over 4000 homeowners 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
Overall, the survey found that the average Joy Score for having their home remodeled was 9.4.
The top 4 reasons in responding to the question of what was the single most important result they wanted from remodeling their home were:
And what three projects had some of the highest Joy Scores?
The addition of a new bathroom had a perfect Joy Score of 10. Sixty-four percent reported that it made their home more livable and was easier to add features with a bathroom addition. 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. Ninety-three percent reported a major sense of accomplishment, 86% said they have an increased sense of enjoyment, and 90% 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. Eighty-eight reported they have a greater sense of enjoyment of their home and desire to be at home. The national median cost $112,500.
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 phoenix az!