Often, when we talk about home renovations, it’s with ROI in mind. 

But what value do home renovations have beyond the material, tangible and financial?

A lot actually, according to the  National Association of Realtors’ 2019 Remodeling Impact Report, a study of 20 projects, surveyed real estate agents, consumers who have taken on home renovation projects, and members of the National Association of the Remodeling Industry.

In fact, the National Association of Realtors calculated a ‘Joy Score’ for each project based on the happiness homeowners reported with their renovations so the more pleased with a given project, the higher the Joy Score, with the highest score being 10.

Joy By-The-Numbers

According to the report, Americans spend $400 billion – yes, that’s billion with a ‘b’ – annually on remodeling their homes, however, many find the idea of taking on a remodeling project too overwhelming to attempt. 

Thirty-five percent of homeowners would rather move to another home than remodel their current home, while 55 percent of owners in suburban areas, 52 of owners in urban areas, and 70 percent for rural areas say they would be willing to remodel their home.

But which remodels yielded the greatest joy? Here are the four renovations scoring a perfect 10 Joy Score:

    Complete Kitchen Renovation

• 93% have a greater desire to be home since completing the project 
• 95% have an increased sense of enjoyment when they are at home 
• 97% Feel a major sense of accomplishment when they think of the project

    Closet Renovation

• 72% have a greater desire to be home since completing the project 
• 59% have an increased sense of enjoyment when they are at home 
• 68% feel a major sense of accomplishment when they think of the project

Kitchen Upgrade

• 85% have a greater desire to be home since completing the project 
• 74% have an increased sense of enjoyment when they are at home 
• 78% feel a major sense of accomplishment when they think of the project

Basement Conversion To Living Area

• 85% have a greater desire to be home since completing the project 
• 65% have an increased sense of enjoyment when they are at home 
• 70% feel a major sense of accomplishment when they think of the project

While none of this should come as a surprise to our faithful blog readers as we’ve covered renovations extensively, it does go to show that there is so much more to investing in your home that simply the return on investment.

At DeLeon Sheffield, we want your next house to become your beloved home for as long as it sparks joy and when it doesn’t, you can always refer back to this list to reclaim some of that joy. We just want to see you happy!

Because at DeLeon Sheffield Company, ‘We’re More Than Realty; We’re Family.’