Renovation trends are always changing. They are influenced by design preferences, technological advancements, and evolving lifestyles. As we transition into 2024, it is hard to ignore that these trends are also intricately intertwined with the current dynamics of the housing market and financial atmosphere. Taking the above into consideration, here a few trends in renovation we anticipate you’ll be seeing this year!
Renovating over Building New - With the current changes in the housing market, many homeowners are choosing to make practical improvements to their current home instead of taking on high interest loans. To some this means that their starter homes are becoming forever homes and to other it means prioritizing the longevity of their home as they age. Either way, we believe we will continue to see people choosing to invest in the home they already own instead of beginning the search for a new one. A balance between affordability and quality is likely to be the key consideration as homeowners begin navigating the renovation landscape in 2024.
Multi-Generational Renovations - Due to the current economy, more and more families are choosing to live in a multi-generational household. This often looks like aging parents moving in with their children or young adults staying home for longer as they are not financially ready to move into a place of their own. Because of the multiple generations living in one space, homes will need to be made more functional. Renovations for these homeowners could include: adding an in-law apartment, finishing the basement, or adding a bathroom.
Sustainability is Here to Stay - Sustainability in building is not a new trend, but one that we do not anticipate will be going away any time soon. Sustainability in construction refers to “the use of practices, materials, and technologies that aim to minimize the environmental impact of building projects while promoting long-term economic viability and social responsibility”. Some of the ways you will see sustainability incorporated in 2024 are: energy-efficient heating and cooling systems, green building materials, solar panels, and water conserving plumbing.
Home-Hardening Features - Due to increase of extreme and unpredictable weather, we are anticipating that more renovations will start to include an increase of home hardening features. Home hardening refers to “the process of making a residential property more resistant to natural disasters and external threats, particularly in the context of wildfire, hurricanes, earthquakes, floods, or other hazards”. The goal is to increase the home's resilience and protect it from damage. Common strategies for home hardening include increasing quality of doors and windows, installing better insulation, adding gutters, or purchasing a backup generator.
Neutral is Out - In 2024 the neutral and industrial home designs are out and warmer, more creative finishes are in! These warmer designs are likely to include handcrafted elements, patterns, and “cozy vibes”. Some of our favorite trends include colorful kitchen cabinets, arched doorways, and bold paint choices.
Smart Home Renovations - Homeowners are always seeking ways to seamlessly merge technology with functionality in their homes. Technology can enhance the overall living experience by adding convenience and comfort. In 2024, we will continue to see even more technology seamlessly into integrating into homes. Some of the technologies that could be added during a renovation include: smart thermostats, heated floors, LED smart lighting, or security systems.
As we step into 2024, renovation is poised for a transformation that mirrors the changing landscape of the housing market, financial dynamics, and societal needs. Homeowners are not just shaping spaces; they are crafting homes that resonate with the demands of the present while embracing a vision for the future!