Stuck in Your Home? Here are 11 Renovations to Increase Joy in Your Space

During 2020, interest rates on homes were at an extreme low. By the end of the year, the average 30-year fixed mortgage rate was 2.67%. Many seized the opportunity to refinance or buy their homes when rates were reduced. 

Rates stayed low until 2022, when they began steadily increasing. In May 2023, the average 30-year fixed mortgage rate was 6.39%. High interest rates combined with rising home prices make moving unattainable and unaffordable for many Vermonters. 

<Check out the New York Times article about the phenomenon>

If you find yourself stuck in this situation, moving would likely result in a significantly higher monthly payment. Instead, you have the opportunity to renovate your space to improve your joy until you get the chance to move.

Evaluate What You Want to Improve About Your Home

Before you decide what to renovate, create a list of the things you want to improve about your home. Separate them by room, your highest priorities, or any method you prefer.

Once you create your list of dislikes, evaluate how different renovations will improve them and how they fit into your budget.

Renovations that Will Increase Happiness in Your Home

In 2022, the National Association of REALTORS (NAR) released a Remodeling Impact Report with help from the National Association of the Remodeling Industry (NARI) to share with homeowners the best renovation options for increasing value and joy in their homes. 

For this report, the National Association of REALTORS created a joy score based on how happy each renovation made homeowners overall. Eight interior renovations received a score of 10, while zero exterior renovations reached this high score. However, three exterior renovations ranked the highest overall with scores of 9.8, 9.6, and 9.5. 

For the purpose of this report, “NARI members were asked to expect the home was a 2,495 square foot house—the average size according to U.S. Census data—and that the house is a post-1981-built home with no hidden issues.” Additionally, NAR and NARI wrote a disclaimer that the actual cost of these projects are influenced by many factors, including “project design, quality of materials, location, age and condition of the home, and homeowner preferences.” Costs also vary if you hire professionals to complete the remodel or if you do it yourself.

Let’s dive into the top 11 interior and exterior renovations to improve your happiness with your home:

1. Paint the Entire Interior of Your Home (Joy Score: 10)

Painting the interior of your home can dramatically change what your space looks like. Lighter paint colors like white, light neutrals, and pastels make your space appear bigger and brighter. Dark walls, on the other hand, make a room feel cozy and comfortable. Hide all the holes you left in your walls after hanging and then re-hanging that giant mirror once you realized it wasn’t quite centered. Painting your entire home with a theme of colors makes it feel more cohesive and polished.

NAR reported that 88% of people who painted the entire interior of their home had “a greater desire to be home since completing the project.” Plus, 85% of homeowners felt “a major sense of accomplishment when they think of the project.”

To determine how much to budget, you need to know how much paint you need. Measure the size of each room and plug numbers into this paint calculator. Keep in mind that most flat paints cost $25 to $50 per gallon. Factor in prices of primer and the amount of coats you will need.

2. Paint One Room in Your Home Home (Joy Score: 10)

For the most part, the paint in your home is cohesive, except for that one room. Every time you walk in, you hate looking at the ugly color with scuff marks. Even painting just one room in your home can increase your joy. It’s also more manageable to paint one room at a time than to paint your entire interior. Consider painting the room you like the least or a room you spend a lot of time in, but don’t love the color.

Out of the homeowners who painted one room in their home, 73% “have a greater desire to be home since completing the project.” This number is less than the satisfaction of painting your entire interior, but it still improves joy significantly.

3. Create Your New Home Office (Joy Score: 10)

School and jobs going virtual in 2020 forced many to begin learning and working from home. In 2019, 17% of U.S. employees worked from home 5+ days per week, increasing to 44% in 2020. This sparked the rise of the home office. Even though the world is “returning to normal,” numerous employers continue to offer remote or hybrid positions for convenience and productivity. 

Working from home is difficult when you don’t have a space dedicated to it. There needs to be a separation between work and home. In fact, keeping computers, TVs, and work materials out of your bedroom will strengthen the mental association between your bedroom and sleep. Working from your bedroom, on the other hand, can make it more difficult to sleep because you associate the space with work.

Say you decide to work from your kitchen, dining room, or living room. If other family members are home during your working hours, you may find yourself distracted by their activities in these rooms. Plus, covering a dining room table or coffee table with work-related supplies will make your home feel cluttered and disorganized.

91% of homeowners “have a greater desire to be home” since completing their home office renovation, and 73% “have an increased sense of enjoyment when they are at home.”

To determine the overall cost of a home office renovation, consider the items you already have and what you need to buy. Do you have a desk and desk chair? Will you need to paint the space? Create a list of necessities for renovating your home office and the prices of each to calculate costs.

4. Refinish Your Hardwood Flooring (Joy Score: 10)

Flooring can make or break the look of your home. Most homeowners surveyed refinished their hardwood flooring to upgrade worn-out surfaces, finishes, and materials; add features; and improve livability. 

Refinished hardwood floors are easier to clean and maintain. Get rid of those pesky surface scratches and imperfections by refinishing. 

The National Association of the Remodeling Industry (NARI) predicts that this project would cost approximately $3,400. The NAR estimated that this project has a cost recovery of $5,000, meaning it would have a 147% cost recovery when it’s time to sell your home (ie. you’re making money in the long run). 

Plus, 100% of people surveyed who completed this renovation “have a greater desire to be home.”

5. Implement Your New Wood Flooring (Joy Score: 10)

New wood flooring elevates spaces once taken over by carpet, linoleum, or outdated wood flooring. There are a variety of different finishes that work for any space. They’re also easier to clean and less likely to be damaged. 

90% of homeowners who installed new wood flooring had “a greater desire to be home since completing the project.” This renovation upgrades worn-out surfaces, finishes, and materials, increasing homeowner satisfaction.

NARI’s cost estimate for this project is $5,500, while the NAR predicted a $6,500 cost recovery. This leaves the value recovered from the project at 118%. 

6. Renovate Your Closet (Joy Score: 10)

Who doesn’t want a more organized closet and more space? Optimizing your closet’s organization and storage will leave you feeling refreshed in your home. Plus, closet renovations save other parts of your home from clutter.

NARI Remodelers approximate that a closet renovation will cost $6,000. The NAR estimates the recovered cost to be $5,000, making the percent of value recovered 83%. But it’s not all about improving the value of your home. If this renovation will bring you satisfaction, it may be worth it (depending on your budget needs).

Out of the homeowners who completed a closet renovation, 79% “have a greater desire to be home.”

7. Upgrade Your Insulation (Joy Score: 10)

Does your home struggle to stay warm in the winter and cool in the summer? It may be time for an insulation upgrade. Improving insulation improves energy efficiency and leaves you feeling comfortable during uncomfortable temperatures. 

85% of homeowners who completed an insulation upgrade “have a greater desire to be home,” and 62% “have an increased sense of enjoyment when they are at home.”

NARI estimates the cost of this project to be about $2,500, and the NAR estimates the cost recovered to be the same amount, making the value recovery 100%.

8. Convert Your Attic into a Living Area (Joy Score: 10)

Let’s be honest. Attics most often are a place for unused items to gather dust. But what if your attic could be a living space? Imagine taking your attic space and transforming it into a living room, extra bedroom, or home office.

Every person who completed this renovation and reported to the National Association of Realtors found a greater desire to be home post-renovation. Plus, 68% “feel a major sense of accomplishment when they think of the project.”

According to NARI, this project costs approximately $100,000. That said, the NAR estimates the cost recovery to be $75,000, recovering 75% of the project’s value.

9. Paint Your Exterior Siding (Joy Score: 9.8)

Keeping up with the exterior of your home can often be an afterthought. Painting your exterior siding fixes existing damages and prevents future ones. A fresh, clean look is bound to have neighbors admiring your project.

This project has a high satisfaction rate, with 88% of people saying that they “have a greater desire to be home” since completion.

10. Add New Vinyl or Wood Windows (Joy Score: 9.6)

Feeling a draft all winter long? Unable to keep out the heat in the summer? Upgrading your windows to vinyl or wood will make your home more modern and durable. New windows can prevent pesky drafts in your home and allow comfortable breezes when desired. Upgrade worn-out windows and improve energy efficiency for your home.

71% of people “have a greater desire to be home” since upgrading their windows to vinyl or wood. 

For vinyl windows, NARI Remodelers’ cost estimate is $30,000, while the NAR estimates the cost recovered to be $20,000. For wood windows, NARI estimates $48,000 for the total cost of the project, and REALTORS estimates the cost recovered to be $20,000.

11. Implement New Steel or Fiberglass Doors (Joy Score: 9.5)

For 91% of homeowners, upgrading their front doors to steel or fiberglass gave them a “greater desire to be home since completing the project.” Most completed the project because it was time for a change or they wanted to modernize their door. An upgraded steel or fiberglass door prevents outside air from entering your home. 

If you want a steel front door, NARI Remodelers approximate the cost to be $3,150. The cost recovery, predicted by the NAR, is estimated to be $2,000. 

Similarly, a fiberglass door costs an average of $3,500 according to NARI Remodelers. The NAR finds the cost recovery to equal about $2,100.

Smaller Renovations to Make Your Space Yours

Although these renovations spark joy, they also take money out of your pocket. If you’re on a budget, there are some inexpensive ways to make your home, yours. 

Declutter

Sometimes what your home needs is a good clear-out. Go through old clothes, knick-knacks that no longer have a place, and any junk drawers. Donate any unused items to local thrift stores or clothing drives. Don’t be afraid to throw things away; the goal is to remove things that take up space that you don’t use.

Upgrade Your Lighting

Make your space cozier with lamps, string lights, and lighting fixtures. Some lights can make your home feel dim and dark, so bringing warmth through your lighting is essential. Plus, lighting shows your personality and the ambience you want to bring to guests.

Reinvigorate Your Outdoor Space

There are many inexpensive ways to refresh your outdoor space. Make the space comfortable with fresh flowers, fun lights, and pillows and blankets. Stay outdoors on cool nights with your very own fire pit.

Ultimately, your space is what you make of it. Sometimes rearranging furniture and decluttering is enough to make your home feel brand new. If not, revisit your budget to see what parts of your home could use a remodel. Often, those projects can boost the price of your home when it comes time to sell.

Renovations aren’t working for you? Connect with a friendly and knowledgeable agent to start your home search today.