The report looked at homeowner reasons for remodeling, the success of taking on projects and the increased happiness they felt post project. NAR calculated a Joy Score for each project based on the happiness homeowners reported with their renovations.
Interior projects with a Joy Score of 10 were complete kitchen renovation, closet renovation, full interior (9.8) and individual room paint (9.7), kitchen upgrade, and basement conversion to a living area.
According to the findings, 36% of homeowners did the project themselves, 35% hired a professional for the entire job, 14% hired the labor but purchased the materials; 12% contributed some do-it-yourself (DIY) labor. It also found that the reasons Americans spend $400 billion each year on home remodeling projects is to upgrade worn-out surfaces, finishes and materials (34%); because it’s time for a change (18%); and to add features and improve livability (15%). For a full interior paint project, 49% said they did so because it was time for a change; 41% did a single room for that reason.
Once remodeling projects are completed, 74% of homeowners responded that they had a greater desire to be in their homes. For the full interior paint job, 88% said they had a greater desire to be home since the project’s completion, and 68% said they had an increased sense of enjoyment when they’re home.
So, go on and spread some happiness.
Add new comment
You Might Also Be Interested In
News Roundup: OSHA Covid Standard, Kentucky Contractor Registrations Standards and More