Home remodeling is more than just a facelift its a way to enhance your homes functionality, increase its resale value, and improve your overall happiness.
A new report dives into the most popular remodeling projects and reveals what really pays off.
Here's what you need to know before starting your next home upgrade.
Plan Your Home Upgrade with Confidence.
What Motivates Homeowners to Remodel?
Most homeowners remodel to address worn-out surfaces, improve livability, or simply make a change. Once a project is completed, 84% say they have a greater desire to stay in their home, while 69% report increased enjoyment. The most common motivations include:
- Upgrading materials: 30% want to replace outdated finishes.
- Adding features: 20% focus on improving their home's functionality.
- Craving a change: 16% remodel for a fresh look.
Key Insight: A completed remodeling project often sparks a domino effect, with 86% of homeowners wanting to tackle additional areas of their home.
Interior Remodeling: What Brings the Most Joy?
From painting a single room to refinishing hardwood floors, interior projects are where homeowners often find the greatest happiness.
Joy scores, a measure of happiness, reported by homeowners reached a perfect 10 for several projects, including:
- Painting the entire interior.
- Adding a new home office.
- Refinishing or adding hardwood flooring.
Cost Recovery: Hardwood floor refinishing led the pack, with homeowners recovering 147% of their costs, followed by new wood flooring at 118% and insulation upgrades at 100%.
Exterior Remodeling: Boosting Curb Appeal and Value
Exterior projects often offer substantial resale value while enhancing curb appeal. The highest Joy Scores went to painting siding, replacing windows, and upgrading entry doors. In terms of cost recovery, these projects stand out:
- New roofing: 100% cost recovery.
- New garage doors: 100% cost recovery.
- Fiber cement siding: 86% cost recovery.
Key Insight: While exterior projects may not match interior projects in Joy Scores, they deliver solid returns for resale.
DIY vs. Hiring a Pro: Who's Doing the Work?
Homeowners approach remodeling in a variety of ways:
- 35% hire professionals for the entire project.
- 28% purchase materials but hire labor separately.
- 22% take on the entire project themselves, while 13% contribute some DIY labor.
Key Insight: While DIY saves money, professional projects often yield higher satisfaction and better cost recovery.
The Emotional Payoff of Remodeling
Beyond the financial benefits, remodeling brings emotional rewards. Homeowners often report feeling happy (57%), satisfied (39%), and accomplished (69%) after completing their projects. These emotional boosts add another layer of value, making the investment worthwhile.
Conclusion
Whether you're planning an interior refresh or an exterior upgrade, remodeling can enhance your home's value and your quality of life.
By focusing on projects with high cost recovery and Joy Scores, you can make smarter decisions that deliver both financial and emotional rewards.
Ready to start your dream project?
With over 50 years of mortgage industry experience, we are here to help you achieve the American dream of owning a home. We strive to provide the best education before, during, and after you buy a home. Our advice is based on experience with Phil Ganz and Team closing over One billion dollars and helping countless families.
About Author - Phil Ganz
Phil Ganz has over 20+ years of experience in the residential financing space. With over a billion dollars of funded loans, Phil helps homebuyers configure the perfect mortgage plan. Whether it's your first home, a complex multiple-property purchase, or anything in between, Phil has the experience to help you achieve your goals.
About Editor - Ryan Skerritt
Ryan Skerritt has over 10+ years of experience in the residential financing space. With over two hundred and fifty million of funded loan volume, Ryan has the skill set to help any homebuyer configure the perfect mortgage plan.
