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  • What is a Joy Score?

    A home remodeling ‘Joy Score’ is a calculated analysis of a homeowner’s happiness based on their renovation results. The calculations also take into account the dollar value each project adds onto the house at resale.

    (This data was collected between 2021-2022 by the National Association of REALTORS® Research Group.)

    In this article, we will cover:

    • The reasons a homeowner remodels.
    • The outcome of taking on a project.
    • The amount of happiness found in the home once a project is completed.

    We will also take a deeper dive into:

    • The typical cost of remodeling, as estimated by members of the National Association of the Remodeling Industry (NARI), since the Covid-19 pandemic.
    • How much appeal each project is likely to have for buyers, according to REALTORS®.
    • How much REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home.

     

    “A study conducted in 2021 by ‘Improving America’s Housing’, Joint Center for Housing Studies at Harvard University, stated that Americans spent over $420 billion on home remodeling projects in 2020”

     

    structural-kitchen-remodel-in-anaheim

     

    Who does the work:

    35% of homeowners hire a professional to do the whole job

    28% hired the labor but purchased the materials

    22% did the entire project themselves

    13% contributed some do-it-yourself (DIY) labor

     

    Research found among NARI members:

    90% found a greater demand in contracting in remodeling work during the COVID-19 pandemic

    60% cited the scale of the projects increased either in a larger project or remodeling more than one room due to the pandemic

    83% cited that homeowners would have remodeled regardless of the pandemic

    86% of homeowners reported that remodeling one area of their home made them want to then remodel other areas of their home

     

    Why do homeowners want to remodel:

    30% want to upgrade worn-out surfaces, finishes, and materials

    20% want to add features and improve livability

    16% do it because it is time for a change

     

    How do homeowners feel about the overall result:

    57% say they would tackle the project the same way

    35% say they would make a few different choices such as finishes or materials

     

    How do homeowners feel about their home after a remodel:

    84% of homeowners have a greater desire to be in their home

    69% have increased enjoyment in their home

    57% feel happy

    39% feel satisfied when they see their completed project

    69% feel a major sense of accomplishment when they think of their completed project

     

    Homeowners report the single-most important result from remodeling is:

    35% better functionality and livability

    22% durable and long-lasting results

    14% beauty and aesthetics

     

    After a remodeling project has been completed, a typical homeowners Joy score is: 9.6 out of 10

     

    home-renovation-design

     

    Let’s break the joy rating down a little further by using the top 4 renovation projects in a home: Kitchen, Guest Bathroom, Home Office and Laundry Room.

     

    Complete Kitchen Remodel:

    43% of homeowners believe the most important result after a complete kitchen renovation is better functionality and livability

    94% have a greater desire to be home since completing the project

    86% have an increased sense of enjoyment when they are at home

    85% feel a major sense of accomplishment when they think of the project

     

    The top 2 reasons a homeowner would want to remodel their kitchen:

    25% to add features and improve livability

    25% to upgrade worn out surfaces, finishes, and materials

     

    Cost Recovery:

    The estimated cost for a typical NARI kitchen remodel is $80,000

    REALTORS®’ estimated cost recovered is roughly $60,000

    The value recovered from the project is typically around 75%

     

    Pandemic Influence:

    87% of consumers would have undertaken the project, regardless of the pandemic

    25% of REALTORS® reported increased demand for remodeling during the pandemic

     

    Joy Score for a complete Kitchen Remodel: 9.8

     

    absolute-white-polished-quartz-countertops-bench-top-niche-ledge

     

    Complete Guest Bathroom Remodel:

    46% of homeowners believe the most important result after a complete guest bathroom renovation is better functionality and livability

    73% have a greater desire to be home since completing the project

    61% have an increased sense of enjoyment when they are at home

    64% feel a major sense of accomplishment when they think of the project

     

    The top 2 reasons a homeowner would want to remodel their bathroom:

    15% to add features and improve livability

    43% to upgrade worn out surfaces, finishes, and materials

     

    Cost Recovery:

    The estimated cost for a typical NARI guest bathroom remodel is $35,000

    REALTORS®’ estimated cost recovered is roughly $25,000

    The value recovered from the project is typically around 71%

     

    Pandemic Influence:

    84% of consumers would have undertaken the project, regardless of the pandemic

    19% of REALTORS® reported increased demand for remodeling during the pandemic

     

    Joy Score for a complete Guest Bathroom Remodel: 9.6

     

    home-office-remodel-in-dana-point

     

    Complete Home Office Remodel:

    54% of homeowners believe the most important result after adding a home office is better functionality and livability

    91% have a greater desire to be home since completing the project

    73% have an increased sense of enjoyment when they are at home

    55% feel a major sense of accomplishment when they think of the project

     

    The top 2 reasons a homeowner would want to remodel their home office:

    33% to add features and improve livability

    25% to improve organization and storage or just moved into home and wanted to customize to personal taste

     

    Pandemic Influence:

    50% of consumers would have undertaken the project, regardless of the pandemic

    40% of REALTORS® reported increased demand for remodeling during the pandemic

     

    Joy Score for a complete Home Office Remodel: 10

     

     

    Add/ Upgrade Laundry Area:

    60% of homeowners believe the most important result after adding or upgrading a laundry area is better functionality and livability

    84% have a greater desire to be home since completing the project

    68% have an increased sense of enjoyment when they are at home

    79% feel a major sense of accomplishment when they think of the project

     

    The top 2 reasons a homeowner would want to remodel their laundry area:

    40% to add features and improve livability

    20% just moved into home and wanted to customize to personal taste

     

    Pandemic Influence:

    68% of consumers would have undertaken the project, regardless of the pandemic

    4% of REALTORS® reported increased demand for remodeling during the pandemic

     

    Joy Score to add or upgrade a Laundry Area: 9.5

     

    ORANGE-COUNTY-REMODELING

     

    Sources & Methodology:

    These surveys were taken by homeowners who have just completed a home remodeling project. The companies involved in collecting the data were: HouseLogic.com, The National Association of the Remodeling Industry (NARI), and The National Association of Realtors® (NAR).

    About NARI…

    The National Association of the Remodeling Industry, or NARI, provides residential remodelers with tools that enable them to perform at a higher level. NARI members’ annual sales are nearly three times the industry average because of the knowledge, networking and support that they receive as members. In addition, NARI connects homeowners with its professional members, so consumers have a positive remodeling experience with a professional, qualified remodeler. NARI members pledge to follow the nation’s strictest code of ethics for remodelers so homeowners can feel confident that their remodeling job will be done right when they hire a NARI member.

    About NAR…

    The National Association of REALTORS® is America’s largest trade association, representing more than1.6 million members, including NAR’s institutes, societies and councils, involved in all aspects of the real estate industry. NAR membership includes brokers, salespeople, property managers, appraisers, counselors and others engaged in both residential and commercial real estate.

    dark-gray-porcelain-fireplace-wall-tile-tri-band-pendant-lights

    To learn more about the quality of Sea Pointe Design & Remodel’s work, browse through our online portfolio of completed projects or visit our kitchen and bath showroom in Irvine.

    When you are ready to start planning your own home remodel, simply give us a call at (949) 861-3400 or fill out the form below to schedule your complimentary design consultation.

    Let's Discuss Your Next Project!

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    What Is Your Joy Score? was last modified: November 17th, 2023 by admin