Despite rising housing costs and inflation, are people still spending money on home improvements? According to Opendoor's 2024 Home Decoration Report, the answer is yes. In fact, the average American will spend $5,635 on home improvement projects this year.
We looked at Opendoor's data and spoke with design experts to gain insight into this year's home decor and renovation trends. When it comes to how homebuyers (and renters) are prioritizing their spending, paint makes a difference, kitchen renovations are at the top of the to-do list, and new or repurposed decor is adding to the space. I found out that it can energize the. Plus, we'll highlight some of the most popular home upgrades that American homeowners want to try as soon as possible.
About the survey
Opendoor surveyed 1,041 homeowners between the ages of 25 and 74 who had decorated or remodeled or expressed interest in doing so in the past two years.
Popular home renovation
When asked about their top home improvement project, 33 percent of respondents said painting, and another 27 percent said the kitchen. Here are some other important upgrades Americans want to make in their homes.
Lighting equipment updates
For relatively simple home improvements that may or may not require a handyman, 25% of homeowners want to update their lighting fixtures first and foremost. The scale and design of overhead lighting can have a huge impact on the look and feel of a space.
Installation of new flooring
For 24% of homeowners, updating floors is the most important home improvement. Although it can be costly and labor-intensive, fresh wood floors and carpeting can make a space feel brand new. However, if this project is too large for now, consider a new area rug or a different paint color to supplement the old flooring.
kitchen cabinet upgrades
Of all kitchen renovation projects, 22% of homeowners say they want to install (or have already installed) new kitchen cabinets. Trending kitchen cabinet styles come and go, but consider choosing a style that matches your home's style so you can use it for a long time. For example, Shaker-style cabinets look great in older Craftsman homes, while slab-style cabinets look great in mid-century homes. If new cabinets aren't in your budget, consider repainting them for a fresh look.
kitchen counter replacement
For an additional 22% of homeowners, kitchen countertops are their most important project. Upgrades can be done alone or in conjunction with a full-fledged kitchen renovation. Granite and quartz are popular among homeowners, but home design expert Davito prefers marble. “I think Calacatta marble has a big influence on kitchens. It has a lot of bold, unique veins that can add movement and texture to your kitchen space,” he says.
Dabito is an interior designer, colorist and creative director at Old Brand New.
affordable projects
Not all home improvement projects require a big investment. In some cases, you don't even need to demolish the space. Here's how homeowners plan to save money when updating their homes.
draw a picture of the room
Painting a room was the highest priority home improvement listed in the survey, but it was also chosen as the most affordable. According to Opendoor's 2024 Home Decoration Report, the top home colors are (in order of popularity):
- off white
- Light gray
- beige
So expect to see quite a lot of these in renovation projects next year. “These colors can provide a sense of calm to those living in (and those visiting) your home. Traditional neutral colors provide a blank slate that allows homebuyers to easily envision their own style. state,” says David.
“Having said that, I love color, so I predict that the 'new' neutrals will be calm, muted and consistent, such as light blues, light greens, dusty roses and eggshell yellows. ” he explains. Many paint color brands' 2024 Colors of the Year are also in line with that assumption, with many opting for muted blues and greens as new hues, suggesting that “These “Color can add warmth to a space without overwhelming the senses,” he says.
buy seasonal decorations
According to 55% of homeowners, changing up your decor each season is the most affordable way to update your home. But is this considered a home renovation? Of course, renovation can include any project that improves the home, such as cosmetic, structural, or decorative changes that improve the visual appeal of a space. there is. (Think about how effective home staging can be when you're selling your home.) Try swapping fabrics throughout your home for cotton and linen in the warmer months and velvet and wool in the winter.
furniture changes
Some housing projects require no expenditure at all. Changing the furniture layout was chosen by 49% of homeowners as the best wallet-friendly update. And Davito loves using what he has to make a big difference.
“Changing out furniture is a great way to make a space feel new without changing the structure or layout of your home,” he says. “One of my favorite tips is to use furniture as a room divider. For example, try moving the sofa as a divider between the living area and the kitchen. Or, instead of pushing furniture against the wall, You can also float it in the center.
David
Flow is important in any space, so reimagine your bedroom or living room with a new layout that provides better flow. I also like having a circular coffee table in a small living space as it looks more appealing.
–Davit
eco-friendly upgrade
Sustainable projects save you money, so these home renovation trends are great for your wallet and the planet. Here's how homeowners can take care of the environment while upgrading their homes.
Refinishing existing materials
Just because your furniture or decor looks outdated doesn't mean you need to throw it away. Homeowners agree that refinishing existing materials is a conscious way to update your home without adding to landfills.
“One of my favorite ways to refinish existing materials is to let the natural beauty of existing pieces shine through,” says Davito. Perfect for old tiling in the kitchen.
Investing in a dimmer
Installing a dimmer is a relatively easy DIY project that can increase your energy savings. Dimmers can also improve your quality of life by providing varying levels of brightness throughout the day. To save maximum energy, always turn off the lights completely when you leave the room.
refinishing old furniture
Just like refinishing the materials in your home, you can also upgrade your old furniture. Staining and painting wood furniture is a beginner-friendly project that makes use of materials that would otherwise be thrown away.
“Staining wood furniture, such as side tables and cabinets, is a great way to highlight its natural qualities while giving it a new look. Conversely, I also love reinventing old pieces with a new coat of paint.” says David.
