Home Improvement Trends in 2023
A home improvement is a renovation, addition or modification to any part of the property that makes it more useful, practical or attractive. Examples include painting, floor covering and repairing a leaky roof or basement. It also includes adding a deck or patio, putting up a fence, constructing a new shed or garage or improving the landscaping. It is a common and often costly activity that homeowners perform to improve the appearance of their house or make it better fit their lifestyle.
The biggest home improvement trend in 2023, according to our survey, is reworking existing spaces and making repairs. “It’s not so much ‘let’s do a major overhaul,’ but more about doing what needs to be done,” Anderson says. With inflation soaring and consumers strapped for cash, high-dollar projects aren’t in the cards for most. Instead, they’re working to make up for lost time on maintenance and repairs.
Other popular home improvement projects include installing smart devices such as a smart thermostat, which can lower your energy bills. Another popular project is a kitchen remodel, which can have the best ROI.
However, before you jump on the home improvement bandwagon, think about what your motivations are for renovating. It’s important to consider your own comfort and enjoyment of the home, but also how the upgrades may impact your ability to sell it in the future. You should always talk to a real estate professional to get an idea of what projects will produce the best return and make sense for your location.