Will Your Remodel Bring You Joy?
We all know that remodeling your home can boost the overall value of your home. But, at best, most remodeling projects add only 60% to 80% of their cost to the home. And, rarely do they yield a positive return. At least, not when it comes to your financial investment. But, what about the benefits and positive return you personally derive from the remodel? Is there such a thing as a “Joy Score?” According to the National Association of Realtors, there is!
A “Joy Score” measures value in a whole new way. A high rate of return on your financial investment not withstanding, some renovations just make us happier.
NAR’s “joy score” measures the satisfaction homeowners feel after completing a renovation project and enjoying their upgraded home. The Joy Score was calculated by combining the share who were happy and those who were satisfied when seeing their completed project and dividing the share by 10 to create a ranking between 1 and 10. Higher Joy Scores indicate greater joy from the project.
Here’s how some popular projects ranked, according to the NAR report’s “joy score” (with 10 being the highest score). Note that joy and recoup don’t always pair up like you’d think they would.
| Project | Joy Score | Recoup in % |
| Hardwood Flooring Refinish | 10 | 147% |
| New Wood Flooring | 10 | 118% |
| Insulation Upgrade | 10 | 100% |
| Closet Renovation | 10 | 83% |
| Attic Conversion to Living Area | 10 | 75% |
| Complete Kitchen Renovation | 9.8 | 75% |
| Kitchen Upgrade | 9.8 | 67% |
| Basement Conversion to Living Area | 9.7 | 86% |
| Bathroom Renovation | 9.6 | 71% |
| New Windows Vinyl and Wood | 9.6 | Vinyl–67%, Wood–63% |
| Add New Primary Bedroom Suite | 9.5 | 56% |
| New Front Door (Steel and Fiberglass) | 9.5 | Steel–63%, Fiberglass–60% |
The next time you remodel, don’t forget your Joy Score because your investment in your happiness matters. A lot.
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