Home Improvement and Joy Score
The 2022 Remodeling Impact Report published by the National Association of Realtors looks at the typical cost of 19 popular remodeling and replacement projects, how much appeal each project is likely to have for buyers, and how much realtors estimate homeowners can recover on the cost of the projects if they sell. They also measured each project by the joy score, which is based on how much happiness homeowners reported with their renovations. The project with both the highest percentage of cost recovered and the highest joy score was refinishing hardwood floors, with a rate of return at 147%. Upgrading insulation was the next thing on the list, with a return of 100% of the cost and a joy score of 10 out of 10. I can tell you that our big insulation project has definitely led to increased enjoyment of our house this winter. It also led us to repaint almost the whole interior, which is also a 10 out of 10 on the joy score. Other popular projects include kitchen and bathroom remodels, with an average rate of return of 75% and a joy score of 9.8 for kitchens and 71% and 9.6 for bathrooms. Click the link to read the full report.
