Staying on top of the latest trends in real estate can help maximize the profit of any real estate investment, ensuring the property sells or rents quickly and for the price point that you’re targeting. For the first time in years, there’s some major design shifts that real estate investors should be aware of, such as the shift away from open concept and the desire to add splashes of color to living spaces rather than the dull greys and off-whites. We believe these are the top five home design trends of 2023 that will help investors maximize their asset’s potential value, whether you’re a first time real estate investor getting ready for their first deal or a seasoned pro looking to stay on top of real estate trends.
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Structured Spaces
Open concept layouts were the king of the mountain for nearly a decade, but its time to bring back rigid design and structured spaces in modern homes. With people spending so much more time at home thanks to remote work becoming increasingly common, homeowners are looking for individual spaces to focus on their specific needs and different rooms to break up the monotony of daily life. Spatial specificity allows people to have their work room, their play room, their relaxation room, their hobby room etc., giving them the ability to change up their day-to-day and have different spaces to help them focus on the task at hand- even if that task is to unwind!
Smart Technology
Smart homes are seeing a surge in popularity for a number of reasons. Many of the smart home appliances fit with the modern, sleek designs that many homeowners enjoy. They also allow for instant customization such as lighting color, specific room temperature, or designating the robot vacuum to clean a room before company arrive. The cherry on top is these smart tech advancements are eco-friendly compared to their traditional counterparts, so homeowners can feel good about their home design while saving money in the long run.
While people are still growing familiar with smart appliances and general smart home technology, there’s been many advancements that homeowners aren’t aware of. The more common inclusions of smart thermostats that you can control through your phone or dimming your lights with an app are nice, but there’s been next-level updates that include voice-activated appliances and smart lock technology that gets rid of the need of physical keys. Saving time & money, increased customization options, and going green are all excellent opportunities for real estate investors that want to improve the marketability of their finished product by providing a home that is functioning at its absolute maximum!
Warm Colors
Tagging onto the idea of people spending more time at home, the dreary greys and bland whites & off-whites have lost their touch. People want to feel warm and energized while at home, whether its working remotely or spending time with their loved ones, and that brings us to a year of earthy tones that give off the comforting vibes of Autumn. This includes warm, natural wood tones in both light and dark hues, paired with tan and crème colors alongside splashes of reds and oranges- think the colors of freshly fallen leaves or a crackling fire! Fix and flip investors looking for a fast and efficient cosmetic update can use this design tip to ensure their finished product has the warm and welcoming feel that families are looking for when they’re buying a home.
Spa Bathrooms
Homes are being treated as more of a sanctuary, and the master bathroom can be the anchor of wellness at home. Designs and fixtures that match the atmosphere of a spa can help with relaxation and recovery, providing homeowners a way to ‘get away from it all’ inside their own living space and focus on the self-care routines they need to keep them healthy and motivated on a day-to-day basis. Some of these spa-like features include bamboo shelving and cabinets, gold accents and fixtures to add a luxurious feel, and calm, soft lighting that can adjust brightness at whim (ideally using the smart home technology you’ve already installed). Builders and developers focused on new construction should spend extra time on master bathroom to ensure it stands out to homeowners looking to buy.
Statement Lighting
Recessed lighting is effective, but its not stylish, and that’s changing in 2023 with unique lighting structures. The uptick of adventurous choices has created a sense of excitement around home lighting and offers the ability to display one’s personality even further- noticing a trend? Sculptural lighting provides a statement design element that can become the centerpiece of a room or help accentuate the desired presentation that recessed lighting lacks, transforming lighting from functional to fabulous. Creating a space that acts as an extension of the homeowner’s tastes and personality is incredibly valuable design tip for 2023, as individualization runs rampant across the real estate world.
Final thoughts
Customization, relaxation, and convenience are the common themes of the top home design trends in 2023. Homeowners want their living quarters to be a reflection of their personality, their place of peace, and their work space all at once. As fix and flip investors know, its important to meet the market desires to maximize the marketability of your asset and ensure you’re receiving offers at the highest possible price points. New construction projects have an incredible market advantage by literally building from the ground up, and can plan for these types of design trends from the start. Even buy and hold investors looking for a quick boost to the value of their rental portfolio can make these adjustments If you’re a real estate investor looking to finance their project, give us a call at 201-942-9090 or fill out our pre-qualification form here.