Tampa, FL, is one of the leading markets for home remodeling these days. In the US as a whole, homeowners spent $567 billion on various improvement projects, and by the end of 2023, this amount is expected to be $580 billion. In Tampa, 850,000 people undertook some type of renovation in 2022. Of these, 77,000 were significant enough to require permits from the local administration.
Roughly $4.7 billion was spent by Tampa residents on these home improvement projects, and experts believe this amount will only grow as more millennials settle into the city. These individuals are increasingly investing in various remodeling projects to tweak their properties as per their own taste and preferred style.
With the younger generation at the helm, the industry is witnessing certain trends in home improvements that are effectively shaping the market. Most professionals predict that this segment of the population will continue to drive the market trajectory for many years as the internet allows them to make a healthy living for themselves.
That being said, here is an overview of certain trends that are prevalent in the market as of now:
Functional yet modern bathroom renovations
Bathrooms are one of the most pivotal spaces in any home. With the modern lifestyle influencing their design and layout, a trend is being witnessed where these rooms are being transformed in a variety of ways. Some of these include:
- Modern fixtures: There are a lot of features that are increasingly becoming popular in places like Florida. Rain-heads, low-flow showers, brushed aluminum or matte black fixtures, and backlit vanities are common examples. Also, in Tampa walk-in tubs are rapidly finding their way into modern family homes with elderly citizens.
- Lighting: Homeowners lean between letting natural light in or adding exquisite artificial fixtures depending on their preference. Either way, lighting is a common addition made to modern bathrooms these days,
- Color tones: Darker tones in bathrooms are becoming a common trend these days as they give the space that elegant yet subtle feeling. Natural elements and minimal tones are also finding their way into modern designs.
In a world where Airbnb has risen rapidly in popularity and co-living is a mainstream trend, mother-in-law suites or Accessory Dwelling Units (ADUs) are becoming increasingly common. These spaces serve as the ideal space to rent out and make extra income while living in the house yourself. A lot of young people are still starting out and the demand for these accommodation options is on the rise.
Even before the COVID-19 pandemic hit, the demand and availability of these units have been growing by almost 10% each year. Since they are affordable at a time when mortgage rates, rental costs, and housing prices are constantly rising, these units are a great option for individuals, especially millennials who are trying to start out small.
Bring in more natural light
Another trend that has emerged and continues to be a frontrunner for the times to come is adding elements that bring more natural light into a space. Whether it is through a skylight, large picturesque windows, or opening up a room completely, many homeowners are getting designers involved to figure out ways in which they can allow more sunlight to enter their abodes.
With many people working in remote settings, home offices have become common. This means that most of the time is spent indoors. As a result, transforming the house into a place that offers an elegant balance as well as a connection between the environment outside and the elements inside is becoming a preferable design theme for people.
The home-office space
A lot of companies and their respective teams were persuaded by the pandemic that operating from home is a practical alternative. Because of this, many renovations will involve converting living space into workspace. According to various sources, setting up and decorating a space can affect your mood and productivity.
As a result, you should ensure your personal workspace renovation includes adequate illumination, decor, and technology to help you work at your most productive level. Since the trend of remote work is still very much in play, setting up a comfortable and energizing workspace within homes is a consistent trend that won’t recede anytime soon.
Going back to curves
There was a time when symmetrical lines, sharp edges, and straight shapes were common. However, with time, that trend is fading and the love for curves is taking its place. Adding a sense of fluidity and seamless connection both on the exterior and the interior is something that homeowners are gravitating toward since the final aesthetic appeal is outstanding.
Also, the softness that perfect curves bring to a space is something that modern designers are working with as more individuals are asking for it. Interior elements in curved shapes, be they symmetrical or asymmetrical, have been touted to carry as a theme not just in 2023 but beyond since the beauty they add is simply astounding.
Sustainability and environment friendliness
As is common with most modern businesses, the home remodels and construction industries are also moving toward environment-friendly materials and finishes. People are increasingly becoming conscious of their detrimental footprint on nature, which is resulting in a preference for materials that are recyclable and come from synthetic sources.
A common example in this regard is cork flooring, an element that many homeowners are adding since it offers a unique aesthetic appeal but preserves the environment at the same time. It is a smart choice as it also has heat-retaining tendencies, which ultimately impact the power bill that a house generates and at the end of the day, through numerous sources, the damage to the environment is negligible.
This trend has been featured on home improvement style lists for quite some time. With the advent of technology, modern living has entailed elements that feature those “Tony Stark” type gadgets. Personal voice assistants like Alexa controlling lights, air conditioning, and various devices are extremely common nowadays. Moreover, smart appliances like thermostats that preserve energy are also part of this ongoing trend.
As the younger generation becomes homeowners rapidly, they are becoming the driving force for many industry trends. These people are urging in an era where almost every element, including boldness with colors, softness with curves, lightning through sunlight, and environment-friendliness through smart solutions, has become common and will continue to stay relevant for a long time in the future.