House and home trends that shaped 2022
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What’s trending among homeowners? Dual kitchen islands, lavish laundry rooms, and affordable retirement cities are making waves this year.
Homeowners have been busy. Renovating, rethinking home design, and relocating are some of the patterns we’ve seen. To find out what other homeowners have been up to, keep reading.
11 homeowner trends: Double islands, storage as décor, and more
Over the past year, these are some of the trends that have taken off:
1. All-season outdoor living.
For many of us, spending two years at home changed everything. Today, homeowners are still prioritizing outdoor living: Fixr’s 2022 Outdoor Living Trends Report showed that home purchases like comfy outdoor furniture, firepits, and hot tubs are top picks. Homeowners are also putting in gazebos, patios, and outdoor kitchens intended for year-round use.
2. Bigger bathroom budgets.
Bathroom reno budgets are up, according to a recent Houzz report. What are homeowners going for? The 2022 U.S. Houzz Bathroom Trends Study, polling 2,570 participants, found that white walls, white and wood vanities, enlarged showers, and high-tech toilets are in demand. Sixty-two percent of the homeowners surveyed made updates—with bathrooms coming in first, followed by ventilation, heating, and water heater upgrades.
3. Decorative storage.
These days, storage isn’t just functional. It can be good-looking too. Much of the emphasis on stylish organization is said to be inspired by home design TV shows and social media. Open shelving, big pantries with color-coded containers, and made-over mudrooms, built out with storage hooks, benches, shelves, and shoe racks, are becoming commonplace.
4. Double kitchen islands.
Not one, but two kitchen islands? Entertaining at home has come back with a vengeance as more of us have returned to socializing face-to-face. The kitchen, being the “most social space” in the house, is receiving a lot of attention. Home design experts say that more homeowners are requesting second kitchen islands, one used for cooking and another for serving.
5. Fancy faucets and fixtures.
The newest faucets and fixtures feature clean and sleek designs: Think squared gooseneck spouts, rounded cross handles, chip-resistant materials, and two-tone finishes. Along with that, many faucets are now constructed with the environment in mind, helping homeowners conserve water and manage utility bills.
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6. High-turnover cities.
Did your city make the list? Based on a realtor.com® analysis of CoreLogic data, homeowners in cities like New York City, Miami, Baltimore, and Albuquerque are most likely to put down roots. Colorado Springs, Indianapolis, Spokane, Atlanta, and Salt Lake City are in the top 10 cities homeowners are frequently leaving.
7. Modernized windows.
New styles and colors, more glass to let light in, and even automation: Modern windows have several key benefits. If you’re thinking of updating your windows, there’s a general rule of thumb. Simple, geometric windows pair well with a contemporary home, while more decorative windows better suit a traditionally designed house.
8. Popular palettes.
Homeowners planning to redecorate are already looking ahead. In August, Valspar, a more than 200-year-old American paint manufacturer, announced its 2023 Colors of the Year. The 12-color collection focuses on comfort and rejuvenation, with hues like Villa Grey, Cozy White, Ivory Brown, and Desert Carnation. You can click through each color choice here.
9. Reinvented laundry rooms.
If laundry room design has crossed your mind: You’re not the only one. More homeowners are dressing up their laundry rooms—or finding creative ways to conceal them when they’re short on space. Some homeowners have even gone so far as to add laundry rooms to both the first and second floors of a house.
10. Retirement-friendly cities.
Wondering if it’s even possible to retire affordably? Budget-friendly cities exist. For retirees on the move, Traverse City, MI, Bloomington, IL, Port St. Lucie, FL, and Myrtle Beach, SC, are among the most affordable places to retire in the U.S. Affordable, according to realtor.com®’s metrics, means that the 12-month median listing price for a city doesn’t exceed $500,000. Read the full list here.
11. Smaller home lots.
Less is more, if recent home sales are any indicator. Last year, more than two-thirds of detached single-family homes were sold on lots smaller than a fifth of an acre. Lot sizes may be skewing smaller due to the large number of lot shortages seen during the pandemic. Builders may also be limiting lot size in an attempt to keep new homes affordable.
Are you ready to make a change?
Lean on your Academy Loan Officer for guidance. Scheduling a quick chat can give you a better idea of where you are right now—based on your current mortgage and levels of home equity—and help you decide what to do next. Making upgrades, buying a second home, downsizing, and moving to a more affordable city are some examples. Get in touch.
This is for informational and educational purposes only and not intended as an advertisement as defined by Regulation Z. Please consult a trusted professional as personal circumstances may vary. No specific results are guaranteed. MAC923-1483394.