Why renovate if the roi is less than 100%

[Jeff Libby]

I see websites that show the roi is less than 100% for renovations and don't understand why people renovate besides to live in a nicer house.  I would think theres a financial gain to be had but what I read says otherwise. Can someone explain this to me please?

An example is in this article here

 http://www.thisoldhouse.com/toh/m/article/0,,40804...

Thanks in advance for your help