If you’re contemplating a home makeover this year, here are the trends to keep on your checklist.
2024 is shaping up to be a significant year for home renovations for numerous homeowners. With mortgage rates hovering above 6%, the majority are opting out of the housing market to avoid exchanging their lower-than-4% mortgage rates for significantly higher ones.
Opting to renovate their current residences seems like a more viable option, enabling them to retain those advantageous rates while enhancing their homes’ comfort, functionality, and convenience.
Planning a home update this year? Keep an eye on these six renovation trends.
Embracing Nature in Design
The concept of biophilic design, which integrates natural elements into home decor, has been gaining momentum and is expected to continue doing so in 2024.
Greg Roth, a senior interior designer at CarbonShack Design in Los Angeles, anticipates a surge in biophilic design elements. This trend focuses on fostering a connection to nature through visual, physical, or symbolic elements, a movement supported by furniture brands, manufacturers, and designers who prioritize environmental conservation.
Roth highlights anticipated trends such as nature-mimicking patterns, skylights for enhanced natural lighting, and bi-fold doors that seamlessly blend indoor and outdoor spaces.
Moving Beyond Gray
The longstanding popularity of gray as a go-to color for home decor appears to be waning.
Matt Boden of Fresh Coat Painters in Tampa, Florida, notes a shift toward more vibrant hues, including yellows and blues, in place of grays. Blue, in particular, is sought after for its calming effect amidst global turmoil, according to Mitchell Parker, a senior editor at Houzz. Neutrals like beige, creamy whites, and deep browns are also becoming favorites, moving away from the once-dominant cool grays and stark whites.
Space for Extended Family
The demand for additional living space for in-laws, adult children, or childcare providers is expected to rise in 2024, as homeowners prefer to expand their current homes over purchasing larger ones.
Options for creating these spaces include accessory dwelling units (ADUs), guest houses, or garage apartments, with garage apartments seeing a significant interest increase, up 43% in 2023, says The Plan Collection.
Christa Kenin, a real estate agent, observes a trend toward creating separate living quarters with private bathrooms and entrances, offering independence while maintaining closeness.
Textured Cabinets
For those considering updates to kitchens or bathrooms, fluted wood cabinets, featuring vertical molding, are worth exploring. These details, reminiscent of Greek architecture, have been prominent in recent design shows, offering a striking visual element to spaces like kitchen islands and bathroom vanities, says Parker.
Home Offices are a Must
With over a quarter of Americans working remotely full-time or part-time, the need for well-equipped home offices has never been greater. Kenin mentions a high demand for multiple home offices, sometimes across different floors, catering to the varying needs of remote workers.
Kenin shares insights on a property offering three home offices across three levels, each catering to different work and life balances, indicating a strong buyer interest in such features.
Outdoor Living Spaces
The desire for outdoor gathering and relaxation spaces is on the rise, with notable increases in searches for small, cozy outdoor areas, according to Parker. Kenin confirms this trend, highlighting a demand for outdoor spaces with various lounging and dining options, as well as areas dedicated to outdoor activities.
Transforming underutilized spaces into small patios or decks, or creating larger, more secluded decks for those with the space, are recommended ways to enjoy outdoor living.
