What are the top trends in home improvement? From generational shifts to the most popular upgrades, here's a look at what's happening in the residential remodeling market.
Trend 1: Generational Shift
The role of older homeowners continues to grow, with those ages 55+ driving over 50% of the home improvements spend. This group of homeowners is contributing the most to renovation activity in terms of larger project scopes as well as larger investments in the higher-end products, materials, and finishes.
Trend 2: Kitchen Upgrades
Kitchen remodels will continue to be more expensive yet will look increasingly similar. Since 2017, spending in kitchen remodeling has increased 10% year over year. The reasons for some of the increase are more expensive products and materials, labor shortages in the construction sector, and the fact that homeowners are increasing the scope of their kitchen renovations.
Contemporary kitchens are extremely popular (picture an L-shaped kitchen with gray walls, white Shaker style cabinetry, white quartz countertops, and a large, oversized island). Farmhouse is another style that has grown in popularity, and then we have transitional, a style between contemporary and traditional. These are the top three styles that are trending for kitchens right now.
Trend 3: Master Suite Upgrades
Master suite upgrades will continue to grow in popularity. And the master bathroom is now the third most popular space to remodel— they have outgrown living rooms in terms of popularity!
Fifty percent of master bathroom remodels are paired with a master bedroom remodel, and one in ten master bathrooms are as large as the master bedroom—or larger. Homeowners are placing an emphasis on their master bathrooms, and there's a definite trend towards integration in style between the master bathroom and bedroom.
It's an important consideration for any remodeler who's upgrading a master bathroom to convince the homeowner to consider a dual renovation project.
Trend 4: Exterior Upgrades
Since 2017, there's been a significant uptick in core exterior upgrades. These upgrades relate to roofing, decks, siding, stucco, and so on. The popularity of these kinds of improvements is driven by the fact that on average, homes are older. Many homeowners have already renovated their kitchens and baths and are now turning their attentions to exterior projects.
Trend 5: Core Home Systems Upgrades
Because building codes having changed so significantly over the last two decades, many homeowners who embark upon a kitchen or bathroom remodel, especially in older homes, find they are required to upgrade the electrical and plumbing systems in order to meet code. As a result, there's a been a big increase in core home systems upgrades such as plumbing, electrical, cooling, etc.
Trend 6: Trendy Systems Upgrades
Trendy systems, such as home security and home automation, are gaining in popularity. Home security, in particular, is seeing a big revival. There is similarly an uptick in upgrades related to smart home technology.
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Source: Houzz. “10 Home Renovation Trends to Watch For in 2019” YouTube, March 28, 2019, https://youtu.be/lzH-EpTwxGg