What can we expect in the future of home remodeling? What’s on the horizon and what is going to happen? Will more people buy new homes instead of remodeling? What will happen to the home remodeling industry exactly? There are many questions like these. Only time can tell. If you’d like to know my opinion, then read on further.
The home remodeling industry will continue to evolve over the next several years. As technology changes and people’s expectations of their homes and lifestyles change, it’s up to us as an industry to continue offering better products, better services, and better methods for remodeling.
As an industry, it is important to understand our consumer’s wants and needs so that we can stay ahead of the curve. I wanted to focus on two major areas of remodeling trends: another move toward extreme green building and the impact that digital marketing will have on the remodeling industry. Personally, these are two areas where I think the home remodeling industry will experience major shifts over the next five years.
First, How And Why People Are Remodeling Their Homes Today
People are remodeling their homes for a variety of reasons. One reason is that they want to add value to their home and make it more appealing to potential buyers or renters. Another reason is that they want to update their home with modern conveniences like smart technology or energy efficiency improvements. Still another reason is that they simply want to improve their lifestyle by adding more space or improving functionality within their existing space.
But whatever the reason, there seems to be no shortage of people interested in redoing their homes.
More People Are Staying In Their Homes Longer, Which Is Good For The Home Remodeling Industry
There are two types of buyers: those who move into their first home and those who move up to their second or third home. Those who have owned homes before have more money to spend on renovations and upgrades.
The demand for new homes has declined as more people choose to stay where they are rather than move on to a different location. The cost of moving is high enough without adding the cost of a new kitchen or bathroom renovation into the equation. The aging population also means that more people will stay in their homes longer because they don’t want to deal with stairs or repair costs associated with aging infrastructure.
Homeownership rates are still down from their peak during 2005-2006 but they’re climbing again thanks to lower interest rates and rising wages.
Homes will have better insulation in the future. In recent years, there have been many improvements made in home insulation — especially regarding energy efficiency. While older homes may not have been insulated very well, newer homes are built with better materials and techniques that help to keep out heat during the summer months and cold during the winter months. This helps to keep your home comfortable all year round without having to run air conditioning when it’s hot outside or heating when it gets cold outside.
Highly efficient water heaters and radiant heating systems
Energy-efficient appliances are becoming more common, especially in new construction. Even older homes can be retrofitted with highly efficient water heaters and radiant heating systems that will save you money on your energy bill each month.
Green Building Materials
As the world continues to become more environmentally conscious, green building materials are becoming more popular in the home remodeling industry. These products are made from recycled materials and are often available at a lower cost than traditional building materials. They may also require less maintenance once installed as well as being less harmful to our environment when disposed of properly at the end of their life cycle.
More Solar Panels
Solar panels allow homeowners to generate their own electricity using sunlight instead of relying on traditional power sources like natural gas or coal-fired power plants. This type of system requires a significant upfront investment.
Integrated voice-activated smart home technology in light switches, thermostats, security and entertainment systems, etc.
More remodels will have Integrated voice-activated smart home technology in light switches, thermostats, security and entertainment systems, etc. The voice-activated technology is a favorite among homeowners because it’s easy to use, reduces stress and can even help reduce the amount of time spent on social media platforms like Facebook and Instagram.
Some homeowners are also installing smart TVs with built-in speakers that connect with other devices like Amazon Echo Dot for music streaming services such as Spotify and Pandora Radio or for playing video games. Other upgrades include adding smart refrigerators that can send you reminders when you’re running low on groceries or even order groceries for you from Instacart or Peapod if you’re too busy at work or traveling out of town on business trips.
Full customization of all aspects of the home, from lighting to flooring to structural elements and beyond that allows you to make your home truly your own.
The home remodeling industry has evolved over the years, but it’s only recently that technology has allowed for a truly personalized approach to designing and building your home.
With the rise of new technologies like 3D printing and virtual reality, we’re seeing a shift away from cookie-cutter homes and toward homes built specifically for their owners.
In a few years, you’ll be able to take a photo of your room and upload it to a designer who will create a blueprint for how to transform your space into something completely new and unique. The designer will then share the blueprint with you electronically so you can review it and make any changes before finalizing the design and ordering your new furniture or flooring online.
The Takeaway: The future is definitely bright for the home remodeling industry!
The future of the remodeling industry is exciting and full of possibilities. However, we can’t simply anticipate what will happen, we have to help make it happen. We can’t wait to see what’s next!
Contact us today and get started!