When Realtors talk about home improvements, we usually focus on two things: the value a project adds to your home and the cost of the improvement compared with the amount recovered at resale.
Those things are obviously important and should be at the forefront of your mind when making decisions about improvements. But what about the joy a home improvement project brings you?
The National Association of REALTORS recently released its annual Remodeling Impact report. Included in the report is a "Joy Score" for each type of improvement. Higher Joy Scores indicate that homeowners felt greater satisfaction and enjoyment after completing a project.
I saw some trends when I looked at the projects. First, the projects that received perfect 10s weren't the most expensive projects on the list. In fact, four are under $4,000. You don't have to spend a fortune to get more enjoyment out of your home.
Three of the perfect-10 projects were exterior projects: new siding, new fiberglass front door, new steel front door. Could that be about the satisfaction we feel as we pull up to our home and see how great it looks? Maybe we feel good using the new front door or welcoming guests through it.
And how about hardwood floor refinishing? That may sound out of place, but gleaming hardwoods can do wonders for the wow factor when you first walk through the door.
Kitchens and bathrooms are really no-brainers. Lump in the closet renovation and you get three projects that improve your home's usefulness and convenience.
I'm not surprised to see the master suite here, either. Master suites have gained in popularity over the years because they can provide a convenient, relaxing retreat right at home.
The point is that not only do homeowners who complete home improvement projects gain equity and value at resale, they gain satisfaction, enjoyment and pride of place from those projects. You can't put a dollar amount on that.
If you're ready to buy or sell or have questions about how a home improvement project will affect the value of your home, call me at (540) 353-0123 or email me at sonya@sonyadickinson.com. Browse my listings here and be sure to like my Facebook page.
