The Farnsworth Group, which conducts extensive research in the hardware and building materials markets, offers a slew of insights into what consumers are increasingly seeking (and buying). Here’s a look at top trends owners should consider to finish 2024 strong and plan for a healthy 2025. The outlook for 2025 looks positive. This year bas been down, but thing could be looking up. Farnsworth writes: “According to the August Size of Market release by The Home Improvement Research Institute, the hardware market is anticipated to rebound into positive territory in…
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Top Carpet Trends for Modern Homes in 2024
As we step into 2024, the role of carpets in interior design is evolving, offering homeowners a way to enhance their living spaces with warmth, texture, and style. This year, key trends include a strong return to earthy tones and natural colors, such as sandy beiges, muted greys, and warm hues like olive green and terracotta. These colors not only create a calming atmosphere but also harmonize beautifully with natural materials like wood and stone. Additionally, sustainability is at the forefront, with an increasing demand for eco-friendly carpets made from…
Read More9 Emerging Home Building Trends
Homebuilders are adapting to material shortages and rising costs by embracing new trends such as prefinished engineered floors, which are cost-effective and structurally sound, and mixed-use spaces to address the shortage of affordable housing. Other emerging trends include dopamine decor for mental well-being, all-electric homes for environmental and cost benefits, and a growing preference for single-story homes due to their accessibility and aesthetic appeal. According to U.S. News, homebuilders have faced their share of challenges in recent years. Material shortages and increased costs have forced builders to be more mindful…
Read MoreRenovation Pro Says Former ‘Luxury’ Is Now a ‘Necessity’ To Boost Home Value Amongst Clients
Reborn Renovations Co-Owner Danielle Mathews shared the renovations that buyers are looking for the most this year, covering everything from smart home technology to outdoor transformations. The implementation of smart home technology is becoming increasingly important to renovation clients. “The integration of smart home technology in your property is no longer a luxury, it’s now a necessity,” she said. From voice-controlled assistants, automated lighting, and climate control systems, these systems are becoming a top priority amongst others. According to The U.S. Sun, Mathews also shared, that open concepts make the…
Read MoreAI Kitchen Remodel: How Artificial Intelligence is Revolutionizing Kitchen Design
Revolutionizing various industries, artificial intelligence (AI) technology is making its way into the kitchen in the form of remodeling. In such a remodel, AI is incorporated into various kitchen appliances and devices to make cooking and meal preparation more efficient, convenient and enjoyable, transforming the way we cook and interact with our kitchens. According to The Fordham Ram, Artificial intelligence (AI) has revolutionized the way people remodel their homes. AI technology has made it possible to design and remodel homes with greater precision and efficiency. AI-powered software can analyze a…
Read MoreGen X Takes the Lead: Study Shows They’re Spending Top Dollar on Home Renovations
Gen Xers outspend baby boomers on renovations, as revealed in a new study by Houzz representing the home improvement market. The average Gen Xer spent $25,000 on home renovations in 2023, compared to the $24,000 and $20,000 spent by baby boomers and millennials, according to the report. Gen X tops out at $180,000 compared to boomers’ $131,000 and millennials’ $148,000, when looking at the top 10% of spenders in each group. According to Hastings Tribune, Metrics typically define Generation X as individuals born from 1965 to 1980, which puts them…
Read MoreKitchens, Bathrooms and More Released as Top Remodel Projects in New Industry Report
Many homeowners plan to invest in their home, despite home renovation statistics and spending trends signaling a pending decline post-pandemic. And according to reports from the Joint Center for Housing Studies of Harvard University (JCHS) Leading Indicator of Remodeling Activity (LIRA), the home renovation industry has quickly surpassed the $400 billion threshold within the last two years. “There is also a social component, where homeowners may be influenced by their neighbors or friends who are renovating their properties,” said Ermanno Affuso, professor of economics and finance at the University of…
Read MoreTop Renovations That Increase Home Value in 2024
With mortgage rates and home prices at all time highs, 2024 just isn’t looking like the time to buy a home. However, that doesn’t mean you can’t invest in the one you already have, or even purchase a home in need of some, or substantial work. A survey released in early May by Discover Home Loans found that more than half (55%) of American homeowners would rather renovate their current home than move to a new one. This is leading to a surge and significance in repairs and renovations. Many…
Read More2024 U.S. Houzz & Home Study: Renovation Trends
Houzz released its 2024 U.S. Houzz & Home Study report. The findings are supported by a total of 32,615 users, including 17,713 renovating U.S. homeowners on Houzz about their home renovations in 2023 and plans for 2024. This study is the largest survey of residential remodeling, building and decorating professionals published. Covering a wide range of renovation projects, the survey included everything from interior remodels and additions to home systems, exterior upgrades and outdoor projects. The gathered data is made up of historical and planned spends, professional involvement, motivations and…
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