Home Design Trends in Today’s Economy

Alongside earthy colour trends and sustainable building materials, in 2023 we anticipate higher interest rates will influence households to pursue smaller home design projects that still deliver a significant impact. Here are four economy-driven home design trends we expect to see in 2023:

1. Reimagined Spaces 

If you decide to renovate, reimagine overlooked spaces. Transform alcoves, nooks and corners into inviting and compact, functional spaces. For example, redesign the area under the stairs into a cozy reading area with extra storage, decorative lighting and stylish décor.

2. Bathroom & Kitchen Remodels 

Instead of upsizing, homeowners may invest in remodelling projects to add space. We expect to see an increase in budget-friendly kitchen and bathroom remodels with a high return on investment. If you have a small bathroom, a floating sink or vanity will make the room feel bigger and become a focal point. Use larger tiles with fewer grout lines to create the illusion of space. 

3. Refined Accent Walls 

Refresh interior walls for a budget-friendly home upgrade. Refresh your home office backdrop, or add a feature wall behind the bed. Incorporate textured materials such as stone, brick, tile or wood instead of simply painting. A shiplap accent wall will continue to be popular for a farmhouse design. Modern-day wallpaper is an easy way to add personality to your home with countless designs to choose from. 

4. Friend’s Entry & Mudroom

Open-plan living has caused a reduction in functional space near the front door. As a result, we anticipate an uptake in secondary entry doors for close friends and family that lead into a mudroom. Enhance your mudroom with a beautiful exterior door, cabinetry, wooden floors, statement lighting and a refined accent wall.