The home renovation market undoubtedly offers cut-throat competition. With so many businesses in this domain, every construction entrepreneur must have a competitive edge!
The easiest way to stand ahead in tough competition is to know what is latest in the market to meet the client’s expectations. Prior knowledge makes adapting according to business strategies and fostering innovation easier.
If you are a renovation and remodeling consultant, it is crucial to incorporate popular trends into your business strategies. To help you, we bring 5 hottest trends according to Lane Boland, a Remodel Commander!
- Use of Eco-Friendly Materials
With modernization, people are adapting towards eco-friendly alternatives. In 2024, many homeowners are expected to incorporate eco-friendly materials in home renovation projects.
Traditional home renovation projects utilize materials like asbestos or lead-based paints, which have hazardous environmental effects. Thankfully, householders are now prioritizing sustainable and eco-friendly living spaces.
According to Lane Boland some of the most popular materials used are bamboo flooring, reclaimed wood, or recycled glass countertops. In addition, energy-efficient lighting solutions are great integrations to house renovation projects.
- Smart and Modern Home Integrations
In 2022, about 400 million households had smart home integrations, providing residents convenience. Technology integration is expected to be another trend in the home renovation market.
”Homeowners requested smart home-tech integration in 8 out of 10 projects my clients managed,” Lane Boland shared in an interview.
Smart lighting, thermostats, security systems, automation technology, and access controls are some of the highly favored modern integrations property owners choose.
- Multi-Functional Spaces
Ask your client if he’s an avid reader. If yes, suggest renovating a cozy reading desk inside a shelf; we guarantee you will in their good books.
Alternatively, if your client works remotely, it is questionable if working space is not included in the home renovation project.
All construction entrepreneurs agree that there is a high demand for multi-functional spaces. This trend is growing because it adds flexibility and functionality to home spaces. In addition, it can be a more cost-effective and efficient solution.
According to Lane Boland some of the top-rated multi-functional spaces opted for in 2024 include:
- Home Office: Combines workspace with storage and sometimes guest accommodation.
- Guest Room / Home Office: Doubles as a guest room when needed, equipped with a desk and storage.
- Living Room / Dining Room: Integrates living and dining areas for versatile use.
- Bedroom / Nursery: Includes space for adults and infants, with nursery furniture alongside regular bedroom items.
- Attic / Studio: Converted attic space used as an artist’s studio or hobby room.
- Basement / Entertainment Room: The basement area is repurposed into a recreational space for movies, games, and gatherings.
- Patio / Garden Lounge: Outdoor space for relaxation and socializing, sometimes incorporating dining facilities.
- Kitchen / Dining Area: The kitchen and dining area combined to streamline meal preparation and dining.
- Outdoor Spaces
According to Lane Boland, a Remodel Commander, and a construction consultant, the number of houses with outdoor living spaces has risen significantly. The statistics for outdoor living structure market size prove Lane’s statement.
The global market size for the same reached a total value of 2.2 billion USD in 2023!
But what is the hype all about? To answer that, let us examine the benefits of outdoor space. First and foremost, it increases the overall value of the property. In addition, it provides additional living space and improves the usability & functionality of the house.
So, for all the entrepreneurs working on home renovation, you must focus on improving the functionality and ambiance of the outdoor areas.
Here are some of the most-preferred innovations with outdoor spaces:
- Porch and Patio
- Outdoor Heaters, Fireplaces
- Outdoor Kitchens
- Outdoor Living Rooms
- Pergolas and Shade Structures
- Integrated Water Features
- Outdoor Cinemas
- Vintage Elements
Vintage-inspired accents have been a timeless trend in home remodeling projects. They efficiently add a touch of nostalgia and provide a unique touch to living spaces.
The most preferred vintage elements in 2024 include antique furniture, old-fashioned lighting fixtures, Victorian moldings & trims, salvaged materials, stained glass windows, and antique textiles.
Conclusion
In the competitive home renovation arena, staying ahead requires more than skill—it demands foresight into evolving trends.
Lane Boland, emphasizes integrating these trends into business strategies.
From eco-friendly materials and smart home technologies to multi-functional spaces and innovative outdoor designs, understanding and implementing these trends meets client expectations and fosters innovation.
As construction entrepreneurs navigate the dynamic market, embracing these trends ensures relevance, efficiency, and client satisfaction, setting them apart in a bustling industry driven by innovation and consumer demand.