If you want to know about the latest home renovation & remodeling trends for 2023; this guide will update you with the essential & latest information. Let’s look at how these changes might boost the value of your property!
Know the Difference: Renovation Vs. Remodel
Both the terms Renovation and remodeling are often used together but have different meanings. Renovation is the process of making minor changes to the already existing layout of the property such as
- Kitchen Renovation
- Upgrading appliances & light fixtures
- Repairing wooden cabinets, or
- Restoring furniture
Now talking about Remodeling, it’s the process of making major changes to the structure, and basic layout of the house. For example:
- Addition or removal of a wall
- Changing the room layout, and
- Installing energy-efficient devices
- Updating the design and finishes
- Adding an Island
- Redesigning of cabinets and countertops.
Regardless of whatever route you take, the amount you spend on renovation or remodeling will help you earn a higher selling price.
Find out how much renovations or remodels cost in the next section!
How Much Do Remodeling And Renovations Cost?
According to housing specialists, the average cost of upgrading a house in 2021 will be $46,790, with a normal range lying between $18,400 to $76,400.The cost of renovation and remodeling projects is determined using different factors such as:
- The Location
- Type & Complexity of Project
- The Scope of the Job
- Timeframe
- Cost of labor
- Essential permits & inspections
- Quality of materials & Finishes
The simplest approach to calculate the cost of your job is to obtain and compare quotations from different contractors. Check below the average cost of some common home renovation & remodeling projects in the US as suggested by HomeAdvisor:
- Kitchen Renovation: This project may cost you around $25,000. The expense of a small DIY renovation may range from $4,000 to $60,000 for a high-end renovation.
- Bathroom Remodeling: Typically, the standard upgrade of bathroom renovation costs around $10,000 to $15,000 for a high-end renovation. Whereas the luxury finishes may cost $50,000 or more.
- Basement Remodeling will cost you around $10,000 to $30,000.
- Room Additions will cost you anywhere from $20,000 to $100,000.
- Roof Replacement costs from $5,000 to $30,000 or more depending on the size & type of roof.
- The price of Floor Replacement depends on the type of flooring and the quality of material used. For example, hardwood flooring may cost anywhere from $6 to $12 per square foot, whereas carpeting can cost you around $3 to $7 per square foot.
Note: Before commencing any remodeling or renovation project, make sure to thoroughly assess your finances. Its better to make a budget and consult a contractor to get the accurate assessment of the expenses required. So you can complete your project on schedule and you won’t have to pay more than you can afford.
10 Biggest Home Renovation Trends 2023
Here is the list of some potential home renovation and remodeling projects for 2023:
1. Sustainable and Eco-Friendly Materials:
The use of eco-friendly materials such as bamboo, cork, and recycled glass.is one of the most effective ways to reduce the carbon footprint. Many homeowners are switching to sustainable products these days to promote a healthy lifestyle. Among the several advantages of using Eco-friendly materials are:
- Recycled products have a minimal impact on the environment.
- Improves indoor air quality.
- Low-flow plumbing fixtures help reduce water usage.
- Supports local businesses (typically eco-friendly products are manufactured locally).
2. Smart Home Technology:
The trend of modernizing houses with smart gadgets and devices is not going away anytime soon. In 2023, many homeowners are incorporating smart home technology into their houses. To feel more connected, such renovation projects include installing
- Voice-activated assistants
- Automated lighting systems, and
- Smart home security systems.
3. Mixed Materials and Textures:
Talking about interior design trends in 2023, a lot of homeowners are using mixed materials & textures to create a customized & unique look. Below are some tips that you can implement to transform your interiors into cohesive and interesting spaces using a variety of materials.
- Make sure to choose dominant materials like metal, wood, stone, etc.
- Add contrast by incorporating materials that are different. For example, metal lamps, and woven rugs complement woodwork.
- Create unique looks by using a combination of rough and smooth textures such as a smooth leather chair with a rough woven pillow.
- Preserve the balance by using a consistent color palette across the space.
- Don’t forget to consider the scale of every item to not overpower your space with one material or texture.
4. Home Gyms & Wellness Spaces :
After the COVID-19 pandemic, people have become more concerned about health and wellness habits. As a result, there has been an increase in the conversion of underused and extra house spaces, such as spare bedrooms and basements, into specialized gyms and wellness zones. Moreover, it’s a great renovation project to support your health and to spend more time in your house. Here are a few tips to create a home gym:
- Start by designing a particular area in your home for a gym or wellness space.
- Think about the size of your space before buying any random gym equipment.
- Incorporate windows to allow the skylight to enter your gym. Natural light boosts energy levels and mood.
- You can add artwork or entertainment units like fire TVs, and music systems to keep you encouraged during workouts.
- To make your space more relaxing, add yoga mats, meditation cushions, and massage chairs to your home gym.
- Don’t forget to add a few plants to your gym area. Greenery around us purifies the air and promotes good health.
5. Outdoor Living Spaces:
As many people started working from home during the lockdown, the concept of modifying outdoor living spaces gained much popularity. The motive is to bring comfort with style to the living room. Following the trend, homeowners nowadays are building:
- Outdoor kitchens
- Living rooms, and
- Entertainment areas
- Adding indoor plants
- Adding couches & tables
- Rugs & mats
- Pergolas
- Fireplace or TVs
Please Note: The budget for renovation and remodeling may vary depending on individual needs, and tastes.
6. Invest in Home Offices
Working from home or remote locations has become quite a trend after the pandemic. Creating functional home offices helps increase productivity, and focus. Home office renovation projects may include:
- Choose the right location i.e. away from distractions and noise. The other way around is to soundproof your work area.
- Invest in a quality desk and comfortable chair to avoid strain on your neck & back.
- If possible, choose an area with natural light to reduce strain on your eyes. Or, simply add a table lamp for more lighting.
- Keep your work area clean and clutter-free by including cabinets, shelves, and desk organizers.
- Add your favorite artwork or family photos for a personalized touch.
- Last but not least, check your background area if you frequently participate in video calls.
7. Multi functional Islands
Creating a multi functional island in the kitchen provides adequate storage, dining space, and workspace. In addition, it makes your kitchen more functional and stylish. Let’s see how you can create a multi functional island!
- Identify your needs: Is it the sink, extra storage space, seating area, or a cooktop on your island?
- Consider the size of your kitchen & activities you’ll be doing before finalizing the size and shape of your kitchen island. For example, a circular island is ideal for prep & cooking whereas a rectangular island is ideal for dining.
- Incorporate extra storage like drawers, cabinets, and open shelves to store kitchen utensils, cookware, utensils, and other essentials.
- Make your kitchen super functional by adding appliances such as a sink, dishwasher, wine fridge, or cooktop.
- Don’t forget to add seats like bar stools or a built-in banquette to make your kitchen island more entertaining.
8. Spa Bathroom & Kitchen Upgrades
Remodeling bathrooms is one of the most trending renovation projects in 2023. Spa bathrooms give you luxurious vibes, and a peaceful environment and promote rejuvenation. People are using more natural materials like wood, plants, and stones. Soft warm lightning, rain showerheads, and large soaking tubs are some of the important elements that you can use to create a calm and serene spa-like environment.
The kitchen is one of the important and most used areas of the house. Above all, it’s one of the top renovation projects worth investing in. Renovating a kitchen not only adds style, and comfort but also improves its functionality. Kitchen upgrades include adding new countertops, installing energy-efficient appliances, kitchen islands, and backsplashes, replacing light fixtures, and others.
9. Multifunctional Rooms
Multifunctional rooms are another trendy renovation & remodeling trend in 2023 that homeowners are investing in. These multiple-purpose rooms can easily adapt to the changing needs of homeowners. But before you design multifunctional rooms in your house, it’s important to determine your needs. Make sure your room is inviting and comfortable. For example, you can create different zones based on your daily activities like a play area for kids, a home office, and so on. Add entertainment units like smart TV, wireless speakers, and Alexa to make your room more functional.
10. Energy Efficient Home Improvements
According to the Inflation Reduction Act passed in 2023, homeowners will be given extra incentives for making energy-efficient improvements. So they can install smart HVAC systems and solar panels which will help minimize their energy expenditures.
FAQs About Renovation & Remodeling Trends
What are the most recent trends in bathroom renovation?
Bathroom renovation projects include installing smart devices like faucets, and heated floors, and choosing bold colors, mixed patterns, and textures.
What are some popular kitchen remodeling trends?
To upgrade the kitchen you can incorporate sustainable and eco-friendly materials, sleek cabinets with minimalistic designs, and choose bold accents to create a modern, and clean look.
What are some of the most popular flooring styles?
wide-plank hardwood for a modern, rustic look; using large-format tiles for a contemporary look; and incorporating sustainable and eco-friendly materials such as bamboo and cork.
How do I incorporate sustainable design into my home renovation?
By installing energy-efficient appliances, and solar panels, using recycled materials, LED lighting, or choosing eco-friendly building materials you can easily reduce their carbon footprints.
What are the different stages of remodeling?
It starts with planning, and budgeting followed by construction, demolition, and clean-up.
The Bottom line:
Whether you are planning to sell your home or not, the renovation and remodeling projects can help you get better RTI in near future. To increase the value of your home, always pick renovation projects based on your budget, lifestyle, and daily needs to improve your property value. We understand that remodeling can be expensive; however, there are various refinancing alternatives available to help you update your home without getting over budget.
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