01 Mar Is It a Good Time to Remodel? 50% of Homeowners Think So
Following the uncertainties and disruptions brought on by the pandemic, you’re probably ready for a fresh start.
Well, you’re not alone. Homeowners have expressed a clear interest in remodeling throughout the COVID era — and all signs point to continued interest in 2023. Most notably, findings from Houzz indicate that well over half of homeowners are ready to remodel.
If you count yourself among these enthusiastic homeowners, you may be wondering, Is it a good time to remodel my home in 2023? Personal benefits abound, of course, but you’re also aware of challenges, such as material and labor shortages and extended timelines.
To shed light on both the obstacles and opportunities that lay ahead, we’ve uncovered key trends and predictions that may influence your decision.
State of Remodeling in 2022
Remodeling was a big deal throughout the pandemic. Stuck at home during lockdowns, many people turned to renovation as a source of distraction. Others desperately needed to establish a sense of calm amid all the chaos — and they realized that strategic designs could make their lives feel a bit more orderly.
This priority was evident in the 2022 Houzz & Home Survey, as 55 percent of respondents claimed to have renovated their homes the previous year. This represented a significant jump as compared to the past several years.
Explaining why they chose to remodel, 41 percent of Houzz respondents mentioned that they’d wanted to for a while but finally had the time in 2021. Personalization was also a priority, with 79 percent of recent buyers claiming that they wanted to customize their new homes to fit their needs and personal styles.
Home remodels will remain a big deal in 2023. In a Houzz study conducted in October, 2022, over two-thirds of homeowners expressed a desire to remain in their current homes and make updates, rather than purchase new homes.
In 2023, home remodeling efforts will continue to focus on personalization. According to recent Houzz statistics, nearly one-third of homeowners want to customize features to better reflect their lifestyle. Over two-thirds would rather make targeted changes to their current homes than find a new place to live – even if that new house better fits their needs.
Are Material Shortages Still a Problem?
Supply shortages complicated remodeling timelines in 2022. This was a clear theme in the aforementioned Houzz survey, with 37 percent of respondents pointing to supply chain issues as a key point of concern.
Unfortunately, these shortages aren’t guaranteed to let up. In a Bloomberg roundup of predictions from industry analysts, expectations for the supply chain in 2023 varied dramatically. Some anticipate a return to the pre-pandemic status quo, while others suspect that backlogs will continue indefinitely.
Ongoing volatility is certainly not stopping homeowners from pursuing ambitious remodeling projects. Currently, shortages are built into the planning process, with cost and scheduling estimates designed to reflect today’s top challenges.
Most Popular Features in Kitchen Remodels
No two kitchen renovation projects look exactly alike, but today’s homeowners tend to gravitate toward a few key updates. Some, such as paint, hold almost universal appeal, while others depend on the scope of the project and the needs of the homeowner.
Noteworthy features referenced in the aforementioned Houzz surveys include:
According to Houzz, over half of homeowners who remodeled in 2021 updated their light fixtures. They prioritized both aesthetic and functional changes, with the goal of making kitchens more inviting but also more productive.
Better Homes & Gardens referenced statement lighting as one of the top trends of 2022, signifying a move away from the subtler looks of yesteryear. Pendants and Art Deco styles will continue to dominate in 2023, although experts at Houzz highlight a move toward midcentury modern.
Integrated LEDs have gained traction these past few years and will remain compelling in 2023. These days, LED arrays can be built into a variety of fixtures, including both classic and contemporary designs. LEDs can also be built directly into cabinet systems, where they provide helpful task lighting or draw attention to backsplash and other distinctive features.
As one of the easiest, yet most impactful updates available, a hardware refresh can instantly change the look and feel of any kitchen. Hence, its high ranking in the Houzz list of top 2021 home updates.
Pulls are currently popular, although HGTV points to knobs as a worthy option for a traditional or farmhouse setting. When pulls are preferred, they’re often sleek or even tubular, with metals providing the best blend of style and practicality.
Options abound for modern kitchen counters, although a few classic materials remain top of mind: granite, quartz, quartzite, and marble. Experts at U.S. News & World Report caution that certain types of granite may appear outdated in 2023, such as dark or speckled slabs. Laminates and ceramic have been out of style for some time now and will remain that way in the year to come.
While many of the updates highlighted above can improve both style and functionality, few come close to the impact of new cabinets. As the heart of the kitchen, these bring structure to this important space while also setting the tone for the general ambiance and aesthetic.
Functionality should last a lifetime, but there’s nothing wrong with exploring trends. Designers tell House Beautiful that dark stains and two-tone cabinets will dominate in 2023, with mixed materials and natural finishes also incorporated to great effect. Blues, greens, and other earth tones are also highly desirable, as homeowners look to harness the beauty and tranquility of nature within their homes.
Support for Redesigning Your Kitchen in 2023
Ready to embark on an exciting kitchen remodel in 2023? Our team at BKC is happy to help. We keep up with remodeling trends, but our main goal is to help your family create a lifetime of memories.