Affordable Renovation Trends in 2024

Blog Post Image
Real Estate

Affordability is a home trend that never goes out of style, and 2024 is no exception. With many homeowners locking in low interest rates years ago, there's been an increase in the trend to stay put in their homes and renovate instead of moving for more space or upgrades. From eco-friendly improvements to smart home technology, here are some of the top renovation trends that homeowners are embracing.

Eco-Friendly Upgrades
Sustainability is a major theme in 2024 renovations. Homeowners are increasingly opting for energy-efficient windows, appliances, and LED lighting. These features not only reduce utility bills but also appeal to the eco-conscious market. 
Tip: Look for ENERGY STAR-rated products for maximum efficiency and potential rebates. For lighting, LED options come in various colors and intensities to suit different room aesthetics.

Smart Home Features
Smart home technology continues to be a dominant trend. Integrations like advanced security systems and smart thermostats offer convenience and efficiency. Smart outlets, which are a relatively low-cost upgrade ($10-$40 per outlet), can yield an impressive ROI of 468%. These features are not only about modernizing a home but also about adding a level of functionality that's increasingly sought after in the real estate market. 

Outdoor Living Spaces
More homeowners are spending their renovation budget outside by creating functional outdoor spaces. Upgraded patios, outdoor living rooms, outdoor kitchens, and serene garden spaces are popular choices. These spaces extend the living area and are ideal for relaxation and entertainment. 

Tip: Consider DIY patio projects or affordable outdoor furniture sets to enhance your outdoor space without overspending.

Multi-Functional Spaces
The demand for versatile living spaces remains relevant, with homeowners transforming basements and extra rooms into home offices or gyms. These conversions not only make the home more functional for the current owner but also add to its selling appeal. Converting a basement into a living area can have an estimated ROI of 86%. 

Tip: Use flexible and foldable furniture to easily switch the function of your spaces as needed.

Cosmetic Kitchen Updates 
A full kitchen remodel can be costly, but minor updates like repainting cabinets or upgrading hardware can refresh the space significantly. These smaller changes are budget-friendly and can have a substantial impact on the look and feel of one of the most important rooms in a house. 
Tip: Pair these cosmetic changes with new lighting or a stylish backsplash for a complete transformation.

Bathroom Refresh 
Modern, spa-like bathrooms are in demand. Simple upgrades such as installing rain shower heads or adding a double-sink vanity can transform an ordinary bathroom into a luxurious retreat. You can also incorporate water-efficient fixtures and use calming, soothing colors to create a spa-like atmosphere on a budget. 

The 2024 home renovation trends reflect a strong preference for sustainability, functionality, and modernity. Affordable yet impactful, these upgrades are a smart investment for homeowners looking to enhance both their quality of life and their property's market value.

If you've recently renovated your home and would like to speak with us about selling your property, contact us today!