Homeowners and renters undertake remodeling projects for many reasons—from updating worn-out surfaces to improving functionality and aesthetics. This report explores why people remodel, what they gain from the process, and how it affects their happiness and home value. It also provides detailed data on project costs, cost recovery, and buyer appeal.
Key Highlights:
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Remodeling Trends:
- Americans spent $420 billion on home remodeling in 2020.
- 90% of NARI members reported increased demand for remodeling during the pandemic.
- 60% said project size grew (e.g., remodeling multiple rooms).
- 86% of homeowners who remodeled one area wanted to remodel more.
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Top Reasons to Remodel:
- Replace worn-out surfaces, finishes, and materials (30%)
- Add features and improve livability (20%)
- Simply time for a change (16%)
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Emotional Payoff:
- 84% feel a greater desire to be at home after remodeling.
- 69% report increased enjoyment.
- 57% feel happy, 39% feel satisfied.
- Typical Joy Score: 9.6 out of 10.
- 69% feel a major sense of accomplishment.
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Top Remodeling Results (as reported by homeowners):
- Better functionality and livability (35%)
- More durable, long-lasting results (22%)
- Improved beauty and aesthetics (14%)
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Who Did the Work?
- 35% hired professionals for the entire job.
- 28% hired labor but bought their own materials.
- 22% did the entire project DIY.
- 13% did partial DIY work.
Interior Projects:
- Projects with a perfect Joy Score of 10:
- Painting interior or a room, new home office, refinishing or installing hardwood floors, closet reno, insulation upgrade, attic conversion.
- Top Cost Recovery:
- Refinishing hardwood floors (147%)
- New wood flooring (118%)
- Insulation upgrade (100%)
Exterior Projects:
- Highest Joy Scores:
- Painting exterior siding, installing new vinyl/wood windows, new steel/fiberglass doors.
- Top Cost Recovery:
- New roofing and garage door (100% each)
- Fiber cement siding (86%)
- Vinyl siding (82%)
Note: All costs are based on standard-quality materials for a typical 2,495 sq. ft. post-1980 home. View the Full PDF here
