When you invest in a home renovation project, you want to make sure it adds value to your property. But if you’re planning on staying in your home for awhile, you also want to make sure it adds value to your life.
The 2019 Remodeling Impact Report from the National Association of REALTORS® explored a variety of home improvement projects and assigned each a “joy score” of between 1 and 10, based on the overall perceived happiness experienced by the homeowners as a result of their renovation project.
So, which home renovation projects deliver the most happiness bang for your buck? According to the report, a kitchen renovation (joy score: 10), closet renovation (joy score: 10), and full interior paint job (joy score: 9.8) are the home improvements that increase happiness the most; for example, 95 percent of homeowners reported a greater desire to be at home after finishing their kitchen remodel, while 88 percent reported the same after a full interior paint job. As for the closet remodel? 68 percent of respondents said completed the closet renovation gave them a major sense of accomplishment.
So, what does this mean for you? If you’re thinking about renovating your home, you obviously want to consider the monetary return on investment it will deliver on your home value—but you should also consider how much it will add to your happiness and overall well-being.