Happy home improvements
Do you have some home improvements in mind? Then choose carefully. According to a new survey, some projects spark more joy than others.Verify your new rate (Aug 14th, 2020)
By now, you’ve probably heard Marie Kondo’s mantra about “sparking joy.” Well, according to the new 2019 Remodeling Impact Report from the National Association of Realtors, some home improvement projects do more of that than others.
The most joyful project of all? That’d be a kitchen or closet renovation, both of which claimed a 10 out of 10 on the survey’s “joy score” scale. A full interior paint job came in next, with a 9.8 score.
A whopping 93 percent of respondents who had a complete kitchen renovation said they now have a greater desire to be home since completing their project. Even more said the renovation has increased their sense of enjoyment on the property.
As NAR Chief Economist Lawrenece Yun explains, “The kitchen is a space homeowners frequent regularly throughout the course of the day, so when that area is remodeled to owners’ exact preferences., as they enter and exit the room, they continually experience the satisfaction of a job well done.”
High-ROI home improvements
If you’re just looking to cash in on your remodeling projects, your best bet is a new roof. The study shows that homeowners who replace their roofs see a 107 percent return on investment.
Other high-ROI projects include adding wood flooring (106 percent ROI) or refinishing existing wood floors (100 percent ROI).
From a resale standpoint, Realtors said a kitchen renovation, HVAC replacement, new wood flooring, or a new master suite would make the most difference.Verify your new rate (Aug 14th, 2020)
Get today’s mortgage rates
Are you thinking of making some home improvements? A cash-out refinance could help. Shop around and see what mortgage rates you qualify for today.