HOUSE TO HOME • SATURDAY, APRIL 16, 2022 • 13
Home office a big winner on Joy Score
of 3.6%. Respondents were asked
to consider certain parameters
when assessing the cost.
In February 2022, NAR emailed
remodeling project surveys to a
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Twenty-two percent of homeowners
did the full project themselves,
from start to finish.
The NAR/NARI report aimed to
calculate consumers’ viewpoints
toward their projects upon completion.
Projects that made the
renovators want to remain home,
or remodel jobs that sparked an
increase of enjoyment among
occupants, received a high Joy
Score, with 10 being considered a
perfect Joy Score. Some tasks that
were awarded scores of 10 were as
follows: painting a home’s entire
interior, painting one room, adding
a home office, hardwood floor
refinishing, closet renovation and
insulation upgrades, among other
labors.
Hardwood floor refinishing
received a 10 Joy Score because
the homeowners felt happiness
and satisfaction in their home
after undertaking the upgrade.
Sixty-four percent of those polled
answered that they have an increased
sense of enjoyment when
they are at home now that their
hardwood flooring is installed.
Another 64% said just thinking
about the completed project gives
them a “major sense of accomplishment.”
Adding a new home office is
another task that earned a perfect
Joy Score based on homeowners’
sentiments.
Ninety-one percent of consumers
said they have a greater desire
to be home now that their office
is in place. Seventy-three percent
said they have an increased
sense of enjoyment when they
are home.
The NAR/NARI report also
examines numerous remodeling
tasks and provides a cost recovery
estimate for the projects. The
genuine cost of each remodeling
project and cost recovery are
influenced by many factors, including
project design, quality
of materials, location, age and
condition of the home, and homeowner
preferences.
“Quite often, an added benefit
to home renovations is the
possibility of an increase in the
home’s value, which is a reason
why some people remodel,” said
Lautz. “This is especially advantageous
to a homeowner who may
be considering selling their house
or converting the home to a rental
property.”
Realtors provided an estimate
of the likely dollar value each
project would add to a house
during resale. In comparing that
dollar value to the estimated cost
of each job provided by NARI
members, a Recovered Project
Cost percentage was tabulated.
In regard to interior projects, the
highest percentage cost recovered
was from refinishing hardwood
floors at 147%. New wood flooring
was at 118%, and an insulation
upgrade was at 100%. Among exterior
projects, new roofing and a
new garage door both recovered
100% of the project costs.
Kitchen upgrades were also
popular among homeowners,
with the task receiving a 9.8 Joy
Score. The top reason (32%) to
take on a kitchen overhaul was
the desire to upgrade worn-out
surfaces, finishes or materials.
The second top reason (20%) was
to add features and improve livability.
According to NARI remodelers’
cost estimate, the average kitchen
remodel would be about $45,000.
Realtors estimated that $30,000
of that sum could be recovered
as a result of the renovation. That
would be a 67% recovery rate.
About NAR’s
and NARI’s Survey
In the autumn of 2021, homeownership
site HouseLogic.com
surveyed consumers regarding
the last remodeling project they
undertook. A total of 1,182 respondents
took the online survey.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.
Also, in the autumn of 2021,NARI emailed a cost survey to
its 5,778 members. A total of 210
responses were received. The survey
had an adjusted response rate
“Quite often, an added benefit
to home renovations is
the possibility of an increase
in the home’s value, which
is a reason why some
people remodel.”
JESSICA LAUTZ
VICE PRESIDENT OF DEMOGRAPHICS
AND BEHAVIORAL INSIGHTS AT NAR