Home Renovations
Balancing the joy a renovation brings while considering your return on investment
Homeowners choose to remodel, redesign, and restructure their homes for multiple reasons and not all projects are created equal. Some renovations create more joy for the homeowner, while others have a high return on investment (ROI). The most recent report from the National Association of Realtors (NAR) stated Americans spent about $603 billion in 2024 on remodeling their homes per the Joint Center for Housing Studies at Harvard University in 2025.
NAR calculated a Joy Score for each project based on the overall happiness homeowners reported upon the completion of their renovation.
While investing most into what brings you joy is priority, it's also important to consider what projects give you the best return on your investment. Especially if you don't intend to live in the home long term.
Per REALTORS 46% of home buyers are less willing to compromise on the condition of the home when purchasing. With the cost of home ownership rising due to increased home prices, interest rates, insurance, taxes, and labor & material costs to perform a renovation it's no surprise buyers are raising expectations. Many have budgets that simply won't allow for additional renovations.
REALTORS may recommend updates be completed before listing your home for sale. Often something as simple as paint or minor bathroom or kitchen upgrades can significantly decrease days on market and raise your sale price. Additionally, in recent years most insurance companies have established strict qualifications in order to receive full replacement coverage for a home's roof. It is not uncommon for buyers to ask for a roof replacement or a credit toward a future roof during negotiations.
