Industry News National Association of Realtors

Remodeling: new hardwood floors and home offices bring most joy

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National Association of REALTORS

U.S. households saw homeowners and families embark on a wide variety of renovations and remodeling projects over the past year. That is according to new findings in theĀ 2022 Remodeling Impact Report, a joint study from the National Association of RealtorsĀ® and the National Association of the Remodeling Industry.

This year’s report analyzes a number of home improvement aspects, including why people decide to remodel, the general costs of specific remodeling tasks, and the fulfillment experienced after a successful project has been completed.

[…] Realtors provided an estimate of the likely dollar value each project would add to a house during resale. In comparing that dollar value to the estimated cost of each job provided by NARI members, a Recovered Project Cost percentage was tabulated. In regard to interior projects, the highest percentage cost recovered was from refinishing hardwood floors at 147%. New wood flooring was at 118%, and an insulation upgrade was at 100%. Among exterior projects, new roofing and a new garage door both recovered 100% of the project costs.

Read the report findings: Remodeling: New Hardwood Floors and Home Offices Bring Most Joy

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