Homeowners often think of the financial impact that a home improvement project will have, but what about the impact on their happiness and satisfaction? The National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI) dove into the data to find out! They developed the REALTORS® Remodeling Impact Report for the January 2016 issue of Qualified Remodeler.
After NAR and NARI surveyed homeowners, they found that the emotional payoff for taking on a remodeling project can be great. Overall, the study found that 74% of homeowners have a greater desire to be in their home after remodeling. 64% have an increased enjoyment in their home, and 54% feel happy.
NAR and NARI also scored a variety of interior and exterior home improvement projects on a scale they call the “Joy Score” based on the amount of homeowners who were happy and those who were satisfied when seeing their completed project. The higher the score, the greater the joy the homeowner felt after project completion. The maximum Joy Score obtainable by any project is a 10. NAR and NARI also analyze the cost recovery and ask specific questions about why the homeowner decided on the particular remodeling project, and how they feel about their home after completion.
Here is the emotional impact of a new garage door:
- The most important result to homeowners was better function and livability for their home (33%).
- The top reasons for getting a new garage door were to give the home an upgrade (39%) or because it was “time for a change” to the home exterior (17%).
- 39% of homeowners felt a greater desire to be home after completing the project.
- 32% have an increased sense of enjoyment.
- 61% have a major sense of accomplishment when they think of the project.
- The overall Joy Score for a new garage doors was a whopping 9.5 out of 10!
Are you ready to be happier with your home? Find an Amarr dealer near you!
Read the Remodeling Impact Report in the digital version of Qualified Remodeler here.