Hot Trends in the 2016 Housing Market
Those individuals looking to sell their homes in the New Year who have not previously had them on the market may receive a little shock if they’ve not been keeping up with the market trends. There are many areas where home trends, renovations and remodels have changed over the last half decade or so, and homeowners may find themselves behind the curve. This should not deter you from selling your home, as an overall booming housing market will ensure you should not have any issues getting it sold, but a few upgrades in keeping with the trends may definitely add to your margin a bit. The items below are some of the more successful renovations you can make that will increase the price and speed with which you sell your home.
Homeowners making renovations is becoming less of a trend and more the norm as we see another year ahead of homeowners spending more on updates than on new home purchases. Technologically advanced and smart appliances in the kitchen allow for a more efficient use of the space which gives homeowners more room for cabinets and countertops.
The name of the game in the New Year is smarter storage. Designers are being inundated with requests from existing home owners to help them find clever uses of space for storage and efficiency. In addition to building that extra pantry under your stairwell, other trends includes raised walk-ups and big bay windows to add natural light.
The idea of furniture themes and uniformity has been largely eschewed in 2016 in favor of a blending of styles, which is mainly due to two factors: economics and the family unit. Families have become more diverse and the addition of new members can bring with it a collaboration of styles and colors. Homeowners are also using more of their renovation budgets on the kitchen and bathroom, which tend to generate more returns on the investment.
Area of Focus
As mentioned above, kitchens and bathrooms typically yield an 80-100% return on the investment dollars spent on renovating those rooms, so if you aren’t selling now but may be in the future, it’s pretty much a no-brainer to update these spots with amenities you will enjoy and will contribute to your appraisal value down the road.
Lighting is fun and funky this year, so do not be afraid to splurge on a chandelier that will generate so discussion. Understated and simplistic furniture designs with a Scandinavian slant will help to make yoru illuminated choices that much more dynamic.
Nothing appears to be off-limits in 2016, with everything from yellows to greens drawing favorable reviews. Stylistically it is what you do with the colors that counts and most folks are blending them in an effort to make a statement about gender bending and equal opportunity for all.
Curb appeal is also a nice place to upgrade in 2016 and the general consensus is that a raised walk-up that is well-maintained should garner some extra traffic. There is also a growing interest in backyards, with the idea of making them cozy and inviting with outdoor lighting and firepits for those cool nights when entertaining a few guests.
As you can see we’ve covered the gamut of trending topics for housing upgrades and renovations. Selecting a few of these to tackle in the first half of the year and a couple more in the latter will ensure your home is current with the market trends and will have appeal both inside and out if you decide to sell.
Additional Articles about Home Renovataion:
- Build Equity with D.I.Y. Projects
- Have Extra Room in Your Home? Consider These Renovations!
- Home Renovation Improvements that Add Value in 2016
- Home Renovations = Win/Win for Homeowners
- Home Renovations to Tackle During a Staycation
- Hot Trends in the 2016 Housing Market
- Kitchen & Bath Inc.
- Top Mistakes Commonly Made with Home Renovations