Homeowners’ Investment Trends in Remodelingschedule a consultation
For most people, buying a home is considered the greatest investment of a lifetime. In the course of homeownership, upkeep and repairs become inevitable, as do home improvements – particularly if you plan to stay there for quite some time.
However, the latest trends in home remodeling indicate that homeowners want their houses to be more efficient to get the most value for their money. There’s no longer just a desire for more space; homeowners want a flexible, smart home that simplifies their life.
So, whether you’re renovating to increase your house’s market value or to enhance its comfort, use these remodeling stats to make an informed decision and kickstart your project. If you, however, need help deciding what to focus on first, contact a company with experience in room addition services to discuss what adds real value to your San Marcos residence.
What are the most popular home improvements?
The San Diego housing market is in the midst of many changes. Due to inflation of 7% and raw material shortages, home upgrades have resulted in an increase in remodeling expenses. Yet, giving your home a fresh look still holds great value.
Below, you’ll find the list of the most popular home improvements along with their expected return on investment:
- Bathroom Addition – up to 51.8%
- A major kitchen remodel – up to 52.5%
- Master suite addition – up to 53.4%
- Bathroom remodel – up to 53.5%
- Composite deck addition – 62.1%
- Wood deck addition – up to 64.8%
- Minor kitchen remodel – up to 72.2%
What will 2023 bring?
According to experts, a few factors are expected to influence remodeling trends in 2023. For example, daily routines have been altered by the health crisis, in turn affecting future home improvements as well as homeowners’ comfort demands. Also, remodeling services were in high demand last year, so many companies adjusted their schedules accordingly.
But remodeling is much more advantageous now that labor shortages have eased and interest rates have risen, slowing the construction industry. This encouraged homeowners to stay in their existing homes, upgrading them with their existing equity.
Here are some of major remodeling trends expected in 2023:
- Convertible spaces – In today’s hectic world, every room in your home needs to be flexible enough to accommodate your preferences. Thanks to convertible spaces tailored to your needs, you can easily transform your study corner into a favorite gathering spot.
- Home offices – If your home has a space suitable for an office, consider it a great place to start improving your house. A dedicated workspace will increase your home’s value without compromising other living areas.
- Bathroom & kitchen upgrades – These are the two rooms that you should prioritize when renovating. An updated lighting system, lighting fixtures, appliances, flooring, and paint can make a huge difference in their appearance.
- Laundry rooms – Throughout 2023, we can expect to see stylish and beautifully organized laundry rooms you’ll actually want to spend time in. To make it work for you, you can convert a mudroom or a spare room into a laundry room and dress it up to your tastes.
- Energy-efficient features – New trends in home renovation favor an energy-efficient exterior and a low-maintenance design. For this reason, look for energy-efficient alternatives when replacing old appliances, windows, and doors.
Where can I find a company with experience in room addition services in San Marcos & the region?
If you want a home tailored to your needs, Lars Remodeling & Design is the one to call. As construction and design experts with years of experience in the field, we can handle any room addition project, whether you live in San Marcos, or elsewhere in the area.
We’ll guide you every step of the way, from choosing the perfect shades for your home, material selection through construction. To demonstrate our proven approach, our team offers a free design consultation before any work begins. Reach out to us today to learn more about the best home improvement option for you!