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.