The most popular home improvement trends are all about functionality, comfort, and first impressions. Home improvement spending is at an all-time high and it continues to be a top priority for many homeowners. In fact, the Joint Center for Housing Studies at Harvard University says spending on home improvements and repairs is expected to expand at an even stronger pace in 2022 before declining slightly at the end of the year.
In prioritizing your home improvement projects, there may be some that have a lower cost, yet make a big impact. Focusing on those can help you fit several items into your home improvement budget. Here are some of 2022’s hottest home improvement trends.
Landscape and exterior improvements
While curb appeal is important when selling a home, it’s essential when you plan on keeping it as well. Investing in landscaping improvements is a great way to improve the look and feel of your home. Think shrubs, trees, and colorful flower beds. Planting trees is a great way to add personality to your home. They not only add character but also provide shade and increase the level of privacy around your home.
New stone pathways leading up to your entranceway or around your property are also popular improvements in enhancing curb appeal. Finally, once you’ve made exterior improvements, you want to enable people to see them, even at night. This means new lighting that’s not only eye-catching but also functional.
Another big outdoor improvement that continues to grow in popularity is the addition of a backyard entertaining space. New trends include beautiful pergolas, large fireplace seating areas, and enhanced outdoor dining spaces.
Creating a dedicated work area
We’re seeing everything from guest rooms to large walk-in closets being remodeled into dedicated workspaces. While we thought working remotely would be temporary, we’re finding for many, it’s become permanent. This means a more stable home workspace that provides privacy, space, and light might be needed. Adding windows to a dark space, a fresh coat of paint, and more functional furniture and storage, can make a home workspace more comfortable and usable.
Letting in more natural light
Windows are big in more ways than one. They are big in size and also a very hot trend this year. Larger windows and lots of them are an ideal home improvement for people wanting to not only let the sunshine in but also be one with nature. We’re seeing floor-to-ceiling windows, as well as entire wall windows. They can offer incredible views, whether you live in an urban or rural area. The same goes for sliding glass and French doors, which are helping to connect indoor and outdoor spaces.
Kitchen and bath refresh always makes the list of home improvement trends
You don’t always have to go big when it comes to kitchen and bath remodels. Freshening cabinets and countertops, adding a backsplash, and installing more practical flooring, can all make a big impact. A new, light-colored vanity top or countertop that replaces one that is old or tired and dingy looking can brighten and change the look of the entire room. Lighter flooring can have the same effect.
Kitchen and bathroom storage is also high on the list of homeowners looking to make improvements. While open shelving was nice, remodelers are returning to more practical and convenient spaces, such as pull-out spice cabinets and special pan drawers. Large, multifunctional kitchen islands with storage space are also a must-have this year. In smaller bathrooms, we’re finding built-in shelves with baskets and bins to help conceal and store items. We’re also seeing bathroom vanities that have been optimized for storage space.
Creating a fully functional laundry room
Whether it was a washer and dryer tucked away in an oversized closet or basement, the laundry room was never the focus it has become in recent years. Now, more than ever, homeowners are looking to improve and brighten their laundry spaces. This may include the addition of shelves, cabinetry, and room for storage, as well as a folding table and rack for hanging clothes. Laundry room remodels are even focusing on brightly colored walls and beautiful flooring for aesthetic appeal.
Improving the energy efficiency of your home
With energy costs at all-time highs, homeowners are seeking ways to become more energy efficient. Adding solar power and upgrades to HVAC can help decrease energy costs. An energy audit can help you identify how your home consumes energy and the best strategies to reduce consumption and cost. Energy.gov provides lots of information on energy efficiency, as well as a “Do-It-Yourself Home Energy Assessment.” We are also seeing an increase in home monitoring devices with apps to alert homeowners about open doors/windows and a way to control them remotely.
Home equity loans are ideal for home improvement projects
Choice One Community Credit Union is currently offering fixed rate home equity loans featuring rates as low as 2.49% APR.* It is a great borrowing option for any of the 2022 home improvement trends we mentioned above, as well as any large expenses. Best of all, if you apply now, you’ll pay no closing costs or fees.**
To learn more about home improvement, read another Choice Words blog post.
“8 Home Improvements that Add Value”
“Tips for Upgrading Kitchen Appliances”
Disclaimers
*APR=Annual Percentage Rate. Rates shown are for qualified borrowers and are subject to change without notice. The rate shown for the Home Equity Fixed Rate includes a .25% discount for auto deduct from a Choice One share or share draft account. Additional rates and terms are available. Rates shown for HELOC is a special introductory rate for a 6-month period and in effect until 06/30/2022. At the end of the introductory rate term, the rate converts to the Prime Rate. Maximum Rate is 18.00%. The minimum rate is 5.00%. The minimum monthly payment is $100.00. The annual percentage rate can change quarterly on the first day of January, April, July, and October. There is no limit on the amount by which the annual percentage rate can change during any one-year period. Contact the credit union for complete details.
**No Closing Cost Promotion applies to first lien only. Third party fees will be reimbursed for the cost of originating your loan excluding any property tax or transfer fees. Fee Reimbursement–The lender may have paid some third party fees associated with this loan. Please refer to the Closing Disclosure provided prior to loan closing for an itemization of third party fees paid by the Borrower (if applicable), and those paid by the Lender on the Borrower’s behalf. The Borrower agrees to reimburse the Lender the actual amount of bona fide third party fees paid on the Borrower’s behalf, as permitted by applicable law if the loan is paid off within twenty-four (24) months after consummation.