Happy Holiday’s to you and yours! 2023 is gearing up to bean amazing time to sell and acquire real estate here in the Valley of the Sun!
One of the most rewarding parts about owning a home is making changes to truly make it feel like your own. Whether you’re remodeling your bathroom, installing a fence, or updating your plumbing or HVAC systems, a renovation can make a big impact on how we live at home, and trends in home renovation can influence home design for years to come.
Moving into 2023, there are a few things that experts agreed will influence renovation trends. For example, the pandemic changed the way that people work and spend time at home and we can expect to see those changes reflected in the renovations homeowners prioritize in the New Year.
Coupled with a rise in material costs and a sky-high housing market, experts predict that renovations focused on increasing comfort and functionality in the home will be big. Mallory Micetich, home expert at Angi, says that “optional projects” won’t be a priority for homeowners in 2023. “With inflation still on the rise, most people won’t be rushing to take on fully optional projects. Homeowners are more likely to focus on non-discretionary projects, like fixing a broken fence or repairing a burst pipe,” Micetich says. If optional projects are taken on, she expects to see them completed alongside a related repair or necessary upgrade, like pairing a tiling project with a pipe repair in the bathroom.
So given these complicated factors, what can we expect to see when it comes to home renovation trends in the new year? Here are 5 home renovation trends that experts predict will be big in 2023.
With more and more people working from home on a regular basis, experts expect home office renovations to be big in 2023. “This may include anything from building a dedicated home office space to simply upgrading an existing workspace to make it more comfortable and functional,” says Nathan Singh, CEO and managing partner at Greater Property Group.
I agree, in fact, I’ll add that I’ve already seen a specific trend of sheds and garages being built or converted into home office spaces among her clients. This allows people who work outside of a standard 9 to 5 desk job to work from the comfort of their homes. Professionals such as physiotherapists, psychologists, artists, or music teachers have the convenience of being at home without having to purchase or lease commercial space.”
With more time being spent at home, homeowners are looking to maximize livable space wherever possible, including outdoors. Especially once the weather begins to warm up in the spring, experts say that we can expect to see renovations move outside. Projects like decks, patios, and gardens will all be big in 2023 as homeowners look to create comfortable and functional outdoor living spaces. This may include installing outdoor kitchens and entertaining areas.
Energy efficiency will be top of mind among homeowners in 2023, as they look to cut energy costs and make their homes more eco-friendly. With the Inflation Reduction Act passing this year, homeowners in the US will have an extra incentive to make energy-efficient home improvements in the New Year thanks to the Energy Efficiency Home Improvement Credit which will see eligible home improvements subsidized. With the installation of solar panels specifically covered under the Energy Efficiency Home Improvement Credit, experts agree that we can expect to see a huge shift toward solar energy in 2023.
In addition, things like adding insulation, adopting solar power, and installing energy-efficient appliances or low-flush toilets will all become much more popular renovation trends.
Bathroom & Kitchen Upgrades:
Kitchens and bathrooms are high-use areas of the home and with an increasing focus on practical and functional renovations expected in 2023, these rooms will be a priority for many homeowners, says Singh. Expect to see projects like updating cabinetry, switching out countertops, adding light fixtures, changing faucets, and replacing old appliances taking center stage in the New Year.
I am also expecting to see a lot of custom cabinetry with hidden built-ins featured in kitchens and bathrooms alike. Think hidden refrigerators, dishwashers, butler’s pantries, and closets that seamlessly blend in with their surroundings. I LOVE this trend because it keeps everything tucked away in its designated place.
Accessory Apartments/Multi-Dwelling Residences:
Another result of rising interest rates and real estate costs is the increase in the need for multi-dwelling residences. Many clients are purchasing homes with a friend or family member as a strategy to increase their purchasing power, with the intent of splitting the home into multiple residences or adding an accessory apartment.
Adapting one’s home to multi-generational living will continue to be a big renovation trend in 2023. As the economy has shifted, more and more families are opting to live under one roof as children come back or aging parents move in. To accommodate this change, many homeowners are reconfiguring their rooms and floor plans. Some are adding separate entrances and kitchens, while others are creating self-contained apartment units.
Regardless of the renovation trends that are forecasted for 2023, most experts agree that prioritizing projects that make sense for your home and family is the most important thing to keep in mind. Trends come and go, but ultimately your home needs to function well for you, so if a trend doesn’t suit your lifestyle then don’t feel the need to jump on the bandwagon just to fit in. For any advice that pertains to your specific needs, as always, reach out to me directly. It’ my passion and my pleasure to assist you! Likewise, I always cherish your kind referrals to family and friends! Christy Crouse