Last Updated on November 15, 2024
The home renovation craze only continues as homeowners seek to improve their living spaces, add square footage, and remodel dated spaces in their home. Recently, home renovation spend soared to new heights, with the median spend coming in at $24,000, up from just $15,000 in 2020. Planning a renovation project soon? Here’s what’s trending:
Kitchens and baths make up the majority of the spending
According to a recent HOUZZ study, 29% of homeowners who were renovating said they intended to remodel their kitchen the following year, 27% noted they had plans to remodel their guest bathroom, and 25% intended to remodel their main bathroom. The median spend for kitchen renovations is now $24,000, and $15,000 for bathrooms.
Top kitchen renovation trends
- An island spanning at least 7 feet
- White continues to dominate cabinet color choices, but color is making a splash, with blue cabinets chosen 25% of the time and green chosen 4% of the time. Warm wooden tones are making a comeback, with 24% of homeowners opting for wooden cabinets.
- High-tech appliances are increasing in popularity, with 34% of homeowners replacing dated appliances for smart ones.
- Ceramic tile continues to be a timeless choice with the backsplash, with the vast majority of homeowners choosing this option, followed by a smaller amount of those opting to carry countertop material onto the backsplash.
Top bathroom renovation trends
- 64% of those renovating their bathroom are doing so with aging-in-place in mind.
- The growing trend of adding wet rooms to bathrooms continues. A wet room encompasses the tub and a shower behind a glass enclosure.
- The color white dominates all categories in the bathroom except the vanity, where wood is the top choice.
- Freestanding tubs are still king, but alcove tubs are making a comeback, with 39% of those renovating opting for the style.
- Tile is, by far, the most popular material for shower walls and floors.
Outdoor improvements
Homeowners are continuing to invest in their curb appeal as more and more opt to spend money on outdoor living spaces and improving the aesthetics of their home’s exterior. Here are the top trends in outdoor improvements:
- Decks continue to be the most-invested in outdoor improvement, with 44% of homeowners renovating their outdoor space opting to install a deck, followed by 23% adding a porch and 20% adding a shade structure.
- Outdoor kitchens continue to be popular as homeowners seek to extend their living space to the great outdoors.
- 77% of homeowners undergoing an outdoor improvement project invest in serious landscaping, while 78% improve or add outdoor lighting.
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Allen Tate is the Carolinas’ largest real estate company with more than 70 offices and 1,800 Realtors in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner of Howard Hanna Real Estate, the largest privately held real estate broker in the U.S., with 500 real estate, mortgage, insurance, title, and escrow service offices and 15,000 sales associates and staff across 13 states. For more information, visit www.allentate.com and www.howardhanna.com.
