Remodeling Trends for 2024 & Beyond
Home improvement experts expect a decline in renovation and remodeling spending in 2024. With home prices and mortgage rates elevated and a continuing housing shortage, remodeling projects may slow down. However, increased ROI on resale continues to entice potential customers.
This guide reviews current renovation and remodeling trends in 2024. These include bathroom, kitchen, sustainability and home office trends. It also includes information on trends in the home improvement market and project choices for the best return on investment.
Home Improvement Market Trends
Many people remodel their homes before they sell. However, the current market means more people feel it is cheaper to stay in their current home. Other contributing factors include mortgage refinancing, higher labor costs and supply chain problems like material shortages and long lead times.
Home improvement revenues reached their height in Q3 2022. However, the Fed began raising interest rates to bring down inflation in the same year. The new federal reserve rates resulted in a rise in the average mortgage rate to 8%. These rates declined across 2023, and in December the Fed indicated it will cut interest rates in 2024. If the housing shortage declines, the remodeling market may rebound in 2025.
The average age of U.S. houses frequently signals when remodeling projects will increase. Statistically, the greatest number of remodels occur in U.S. homes between 20-40 years old. U.S. homes built in the housing boom of the mid-2000s are entering their prime remodeling years in the 2020s. This will increase by 16% to 24 million by 2026. The number of remodeling projects are likely to grow accordingly.
Renovation & Remodeling Trends
Many remodeling decisions are driven by the enduring popularity of remote work, elevated costs of homes and designs that evoke nature.
- Remodels will continue to put less emphasis on open floor plans and more on rooms that allow privacy for remote work, school and virtual meetings.
- Remodeling trends for home offices emphasize upgrades to support remote work. Additions will include charger outlets, ports for devices and storage to keep cords and equipment out of sight.
- The 2022 Inflation Reduction Act includes tax credits for more sustainable home energy products, including solar panels. Expect more homeowners to take advantage of energy-efficient upgrades.
- Built-in specialty cabinets, drawer organizers and other creative storage options will help decrease clutter. This includes concealed pantries, also called “butler’s pantries,” in or near kitchens.
- Trends for aging in place include bathroom grab bars, non-slip flooring in bathrooms and other health and safety upgrades.
- Increasingly popular interior design options will emphasize textured surfaces with such materials as raw metals, natural wood and faux finishing.
- Interior design that emulates nature, also known as biophilia, will be popular. (See our guide Trends Review: What Is Biophilic Design?)
- Remodeling trends for exterior space include outdoor showers and kitchens as well as adding awnings, firepits and other outdoor features, as well as improved yards and landscaping.
- Color and lighting design will see an increase in “color drenching,” or the use of a single hue to create a striking and inviting feel to a room.
Bathroom Remodeling Trends
In 2023, small renovations and redecoration projects were popular for their customer appeal and relatively low complexity. In contrast, more robust bathroom remodels typically offered more ROI on average. Bathroom remodeling ideas for 2024 include:
- Upgraded bathroom suites, especially in homes where people work remotely
- Luxury design finishes, such as tiled shower pans, quartz and granite vanity tops
- Personalized or handmade features including vanities, storage and mirrors
- Wooden vanities and other applications of natural materials
- Spa-style aesthetics, including indoor houseplants and calming colors
- Enhanced storage options like wall cabinets and deep closets and shelves
- Deep vessel sinks, walk-in showers and wet rooms
- Updated tiling, lighting and hardware as quality-of-life improvements
- Water and energy-efficient fixtures like dual flush toilets and LED light bulbs
Kitchen Remodeling Trends
Kitchen remodeling ideas for 2024 include:
- Longer kitchen islands of more than 7 feet that can double as dining areas
- Upgraded, thinner countertops of quartz or quartzite
- Countertops made from recycled materials for environmental concerns
- Shaker-style cabinets as well as cabinets with simple designs that offer Shaker alternatives
- Flat panel cabinets without knobs or handles
- Concealed pantries for an elegant style
- Colors with higher contrast to make the paint choices pop
- Creative backsplash tile or panel design with appealing patterns or imagery
- Natural accents using the wooden elements of the room, or colors that match the natural light available in the kitchen
- Layered and recessed lighting such as LED strip lights or puck lights for a multidimensional feel
Return on Investment for Remodeling Projects
Updated bathrooms or kitchens are top selling points in the housing market. Strategic renovations in these areas can boost a property’s value.
Bathroom remodels often provide the highest ROI, especially with these features:
- Chrome fixtures and single-handle showers
- Updated bathroom tile floors or backsplashes
- Natural stone or porcelain countertops
- Walk-in showers that are handicap accessible
Heated floors and rain shower heads are upscale features that can draw more attention but may not offer as high ROI.
Kitchen remodels also offer a healthy return on investment, such as:
- Upgrades like stainless-steel sinks and refinished cabinets with new hardware
- Granite or quartz countertops
- Removing unnecessary walls and taking other steps to make kitchens more spacious
- Major remodels like installing kitchen islands, undermount sinks, stone countertops and ceramic or glass tile backsplashes.
While kitchen and bathroom remodels are the most common projects for ROI on resale, there are other key home improvement options to consider. The following is a list of the top four remodeling projects for ROI from 2023:
- Manufactured stone veneers and siding
- HVAC conversion to electrical power
- Garage door replacements
- Steel Entry door replacements
For more information about how to get the most ROI from these projects, see our guide “Cost vs Value: Best ROI Home Improvements.”
Pro Tip: Experts advise spending no more than 10% of a home’s value on remodeling a kitchen and 5% to remodel a master bathroom. Before remodeling any rooms, research comparable homes.
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