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52 | TH E M R EP O RT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Does Being a Homeowner Contribute to Your Financial Well-Being? Homeowners feel they have a higher financial well-being than those who rent, according to the CFPB. T he Consumer Financial Protection Bureau (CFPB) re- leased its report on the financial well-being in America, showing most Americans are generally satisfied with their household situation. According to the report, average adults who answered to be "very satisfied" in the place they live have a higher level of financial stability (10 points by the metrics of the data, at 60,) than those that report be - ing "less than very satisfied," which stood at 50 points. The report, notes, however, that this could be a chicken-or-egg situation, "It is possible that being satisfied with one's residence influences financial well-being, but it is also possible that individu - als with greater financial resources and higher financial well-being have greater flexibility to select housing that meets their needs." However, the report makes clear that homeowners feel they have a higher financial well-being than those who rent, or those that identify with neither group, although the report remains hesitant to attribute cause and effect: "Again, this finding does not necessarily mean that homeownership causes higher levels of financial well-being. While it is possible that owning a home enhances financial well-being, it is also possible that those who are able to purchase a home are in a stronger financial position (i.e., have higher levels of income and savings) than those who are not and that those factors are associated with higher levels of financial well-being." Remodeling: What Areas Bring the Most Value? The data reveals the top remodeling projects, as well as the increased financial and emotional value that specific projects bring. T he National Association of Realtors (NAR) in conjunction with the National Association of the Remodeling Industry (NARI) released the 2017 Remodeling Impact Report. The data reveals the top remodeling projects, as well as the increased financial and emotional value that specific projects bring. According to the report, after completing a remodeling project "Seventy-five percent of owners have a greater desire to be in their home, 65 percent say they have increased enjoyment in their home, and 77 percent feel a major sense of accomplishment when thinking of their completed project." In addition, "Fifty-six percent felt happy when they see their completed projects, and 39 percent say they feel satisfied." NAR President William E. Brown said that whether home - owners are hoping to impress potential buyers, bringing in higher offers, or gaining more equity in the home, remodeling projects and home upgrades bring the most value to homeowners. Homeowners looking to sell should consider interior renova - tions, specifically hardwood floor refinishing, which ranked as the project with the largest financial return upon resale, recovering 100 percent of project costs upon resale, according to the report. For exterior projects, NAR reported new roofing will recover 109 percent of costs upon resale, more than any other project, as "new roofing was also named the exterior project that most appeals to buyers, followed by new vinyl windows, a new garage door, and new vinyl siding." Projects with a perfect "Joy Score of 10," which is the ranking of satisfaction from projects, included a new master/owner's suite, with an estimated cost of $125,000 for a full makeover, and new steel front doors, with an estimated cost of $2,000. "This year's report confirms how remodeling can increase home value and day-to-day enjoyment," said Tom Miller, President of the National Association of the Remodeling Industry. "I can't emphasize enough how important it is to work with a contractor you can trust who adheres to a strict code of ethics and can help define a realistic budget." "This year's report confirms how remodeling can increase home value and day-to-day enjoyment." —Tom Miller, President of the National Association of the Remodeling Industry