The housing sector has made considerable strides in recent years, and finally has something to show for it. Home prices are up, and will only be bolstered by an expanding economy. That said, home remodeling projects are expected to increase exponentially in 2015. Consumers can expect to see more new construction, rehabbing, high end gut remodels and custom home additions. Even modest home improvements and single room upgrades should increase over the coming year. In lieu of such forecasts; what design and remodeling trends should investors be paying close attention to? What remodeling projects should investors consider in their next project?
Smart Home Technology
Home automation isn’t just trendy; it can offer huge savings on homeownership and living costs. There are now apps for just about everything – from remote controlling home temperature to tracking indoor movement. Yet, this is just the tip of the iceberg of what is to come ahead. Smart home technology will only increase in popularity. Consider adding some of these features to your next remodel and you may be pleasantly surprised about the reaction they elicit.
Beyond the desire for a more sustainable and less expensive living situation; droughts, water controls, and water pollution scares are likely to make home rainwater harvesting systems even more popular over the next 24 months. Some may harvest rainwater for irrigation purposes, as it will cut down on water consumption and promote conservative practices. Others will actually use rain water for daily activities within the house. At the very least, harvesting rain water is good for the environment and cost effective. Homes can now be purchased with built in systems, while existing homeowners can purchase and install their own. Some buyers may be drawn to such an addition.
Dual Island Kitchens
Dual island kitchens were recently recognized as one of the most popular trends in home additions. While the last boom saw many new properties being built virtually without kitchens, the farm to table, farmers market, and healthier eating trends we have been experiencing could culminate in more eating at home. Those that really want to show off may have to opt for that second island. If you have the room to spare, consider adding a second island. Kitchens are one of the areas you really want to stand out. A second island may be just what your home needs.
As more awareness grows of watershed and how many chemicals are actually used in foods, and even organic foods, those serious about the environment and their health will be more inclined to have their own sustainable garden. For some it might just be beautiful water gardens. For others, edible mini-farms. Some will simply eat what they grow, while others might even make a business out of it. At the very least, prospective buyers will like the idea of having a tangible asset they can get their hands on and work with. It may even be what gets them off the fence about buying.
While greenhouses can be a great place to harvest plants, sun rooms can support healthy remodeling budgets and inspiration from indoors. Fully enclosed, expertly built sun room additions can qualify as ‘under AC’ square footage when it comes to appraised values. What most don’t think about is how much less expensive they are to add than a brick and mortar addition. The square footage they can add to a property greatly outweighs any expense.
With remodeling expected to grow in 2015, experts believe that glass will be used even more than it has been in the past. While some debate how well some new soaring glass condo buildings will weather several decades of wear and tear; glass is a great option for most single-family residences. It is considered very hygienic, and green, versatile, and even stronger than other types of materials. Glass stairs, floors, ceilings, and walkways are all becoming more and more popular in elite custom homes and high end walkways. Look at your next remodel with the idea of incorporating glass in a creative way.
While home buying is set to get easier, and remain more affordable throughout 2015, there are plenty of individuals that can’t buy. Essentially, more and more generations are living together to save money. It is not uncommon to see at least three generations of a family in one home. No matter how stylish and fashionable they are – micro-lofts just don’t cut it for multiple generations trying to squeeze under one roof. Anticipate more families expanding homes to make more room for others.