One of the most fulfilling aspects of homeownership is the ability to transform your living space into a reflection of your personality and style. Whether you are renovating your bathroom, revamping your outdoor space, or upgrading essential systems within your home, remodeling projects can significantly enhance your quality of life. As we approach 2024, several factors, such as the ongoing influence of the pandemic and rising material costs, are expected to shape the home renovation landscape. Homeowners are likely to prioritize projects that enhance comfort and functionality while being mindful of economic constraints. According to Mallory Micetich, a home expert at Angi, “optional projects” may take a backseat to essential repairs and upgrades due to inflation. If optional projects are pursued, they will likely be combined with related repairs or necessary improvements. In this article, we will explore the five home remodeling trends experts anticipate for 2024, focusing on home offices, outdoor living spaces, energy efficiency, bathroom and kitchen upgrades, and accessory apartments or multi-dwelling residences.
1. Home Offices: Transforming the Way We Work and Live
The COVID-19 pandemic has forever altered the way people work and spend time at home. With an increasing number of individuals working remotely, home office renovations are expected to take center stage in 2024. Nathan Singh, CEO and managing partner at Greater Property Group, explains that these renovations can range from creating a dedicated home office space to enhancing an existing workspace for improved comfort and functionality. Emily Cassolato, Real Estate Broker at Coldwell Banker Neumann Real Estate, notes a specific trend of converting sheds and garages into home office spaces. This transformation allows professionals such as physiotherapists, psychologists, artists, or music teachers to work from the comfort of their homes, eliminating the need to purchase or lease commercial spaces. As the lines between work and home life continue to blur, creating an efficient and appealing home office will be a top priority for many homeowners in 2024.
2. Outdoor Living Spaces: Maximizing Comfort and Functionality
With people spending more time at home, homeowners are seeking to maximize their living spaces, including the great outdoors. As the weather warms up, outdoor renovations are expected to flourish in 2024. Projects like decks, patios, and gardens will be on the rise as homeowners aim to create comfortable and functional outdoor living areas. In addition to traditional outdoor spaces, experts predict an increase in projects such as outdoor kitchens and entertainment areas. These enhancements allow homeowners to fully embrace outdoor living, providing a space to relax, entertain, and enjoy the beauty of nature, all within the confines of their own property.
3. Energy Efficiency: A Sustainable Future
Energy efficiency will be a top concern for homeowners in 2024 as they seek to reduce energy costs and make their homes more eco-friendly. The passage of the Inflation Reduction Act will provide an extra incentive for homeowners in the United States to undertake energy-efficient home improvements, thanks to the Energy Efficiency Home Improvement Credit. This credit will subsidize eligible home improvements, with solar panel installation specifically covered under its provisions. The use of solar energy is expected to experience a significant surge in 2024. In addition to solar panels, homeowners are anticipated to introduce smart HVAC systems and adopt other energy-efficient measures such as improved insulation and energy-efficient appliances. These trends align with the growing emphasis on sustainability and environmentally friendly living.
4. Bathroom & Kitchen Remodeling: Focusing on Functionality
Kitchens and bathrooms are among the most heavily used areas of a home. With a renewed emphasis on practical and functional renovations expected in 2024, these spaces will be a top priority for many homeowners. Renovation projects in these areas may include updating cabinetry, replacing countertops, upgrading light fixtures, changing faucets, and installing new appliances. A noteworthy trend in these spaces is the integration of custom cabinetry with hidden built-ins. Think hidden refrigerators, dishwashers, butler’s pantries, and closets that seamlessly blend in with their surroundings. This trend not only enhances functionality but also offers a sleek and uncluttered look. The emphasis on practicality and aesthetics will make kitchens and bathrooms key areas for transformation in the coming year.
5. Accessory Apartments/Multi-Dwelling Residences: Maximizing Space and Value
Rising interest rates and real estate costs have led to an increased demand for multi-dwelling residences. Some homeowners are purchasing homes with friends or family members, intending to split the property into multiple residences or add accessory apartments. This strategy allows them to enhance their purchasing power while providing a flexible living arrangement. As Christiane Lemieux, interiors expert and designer behind Lemieux et Cie, explains, multi-generational living is becoming more prevalent as the economy shifts. Families are increasingly choosing to live under one roof, with children returning home or aging parents moving in. To accommodate this change, homeowners are reconfiguring their floor plans, adding separate entrances and kitchens, or creating self-contained apartment units. These renovations reflect the changing dynamics of family living and are expected to remain a prominent trend in 2024.
Final Thoughts
In conclusion, the world of home remodeling is set to witness several exciting trends in 2024. The lasting impact of the pandemic, coupled with economic factors like inflation, will shape the choices homeowners make when renovating their homes. From the rise of home offices to the increasing emphasis on energy efficiency, the trends in home renovation are evolving to meet the changing needs and preferences of homeowners. However, regardless of the trends, experts agree that the most important aspect of home remodeling is ensuring that your home functions well for your lifestyle. Trends come and go, but the goal is always to create a living space that enhances your comfort, functionality, and personal style. As we look ahead to 2024, these anticipated trends offer a glimpse of the exciting possibilities that await those seeking to transform their homes into personalized havens of comfort and style.