As a real estate investor, you need to stay abreast of what’s hot and what’s not in the consumer marketplace. Properties that sit on the market longer than the average of 50 days, cost you money. There is more to home improvement than simply upgrading the kitchen and bathrooms. It’s also important to consider the types of materials, appliances, colors, designs, and other key elements preferred by consumers. The latest remodeling trends, found below, will keep you ahead in the game and in front of buyers.
Future Medical Needs
It’s guaranteed, everyone ages. With age come medical conditions, some of which will leave us debilitated. Consumers recognize this fact and want more handicap-friendly homes. Wider doorways, level thresholds between rooms, taller toilets, tub and shower rails and seats are all features trending this year.
This one should come as no surprise. Gone are the days of segmented living where hallways bred walls and walls bred confusion. Today, the open floorplan reigns supreme. Consumers want a continual flow from kitchen to dining area to living area. You can achieve this effect with hard floors and open walkways.
Kitchens For Catering
Humans are social animals and prefer to entertain guests. Homebuyers covet a dream kitchen that features a large island, lots of storage, sophisticated appliances, and plenty of counter space. Trending countertops like quartz, marble, and even wood, are now preferred over granite (an oldie but goodie). Also, consumers prefer dark or white cabinets with glossy or unpolished metallic hardware over yesteryear’s oak cabinetry. Spicing things up, designers now feature two-toned cabinets, where a section of the cabinets are a different color than the rest (usually dark and white).
Other popular kitchen features, according to Remodeling.hw.net, include water filtration systems, in-house coffee stations, wine coolers, sensory faucets, and phone and computer charging stations.
Smart Home Improvement Trends
The smart home is hugely popular today. Integrating smart devices, like light bulbs, appliances, flood lights, doorbells, thermostats, fire/smoke/gas detectors, water-leak detectors, security systems, and cameras, produces more value and a higher return on investment. You can’t outrun this home improvement trend.
Consumer Reports states that “in 2017, 33 percent of homes are expected to have at least one connected device, and the household penetration should top 60 percent by 2021, according to Statista, a market research firm.” Nearly all smart devices connect with mainstay digital assistants like Google and Alexa, which means you can now ask Alexa to dim your lights or start the dishwasher or turn down your A/C.
Meddling With Metals
Metals in the home were once only used for things like bed frames, wall and ceiling joists, and appliances. Today, metal is more than a support piece, it’s now an accent piece, a piece of furniture, a backsplash, and a doorknob. Brass, copper, steel is incorporated throughout new construction. It’s modern, it adds character and texture, and it sells. As metals become more prevalent in the home, the matte finish will follow suit. Before you know it, you’ll wow your buyers with matte appliances.
Here is a list of more remodeling trends that can be incorporated in your real estate investments.
- Garage door upgrades
- Fancy laundry rooms
- LED light strips
- Self-cleaning toilets
- Glass tiles
- Indoor gardening
- Natural materials like wood and stone
- Finished basements
- Eco-friendly materials
- Standalone tubs and showers
- Hidden storage areas
- Bursts of colors
Planning on performing your own home improvement renovations? You’ll want to see this. For further reading, check out this nifty list from Realtor.com of projects that result in the highest return on investment.