As the housing inventory continues to thin, many people are investing in improvements to their current home rather than moving to a new one. So what are the trends driving the renovation market? Schneider Electric shares more.
7 March, 2019
As the housing inventory continues to thin, many people are investing in improvements to their current home rather than moving to a new one. But rather than prettying them up with a fresh coat of paint or adding amenities like wine cellars and swimming pools, homeowners are choosing to make their homes smarter, greener, and more reflective of their lifestyle. Here are the top trends driving the home renovation market.
While there’s been a steady rise in smart-appliance adoption, we are on the cusp of a connected-home boom. According to market research firm Statista, the global smart-home market is forecast to reach a value of more than 40 billion USD by 2020.
More and more home buyers consider the integration of smart home technologies critical to their renovation project. Intelligent home security devices, climate control products, and lighting and entertainment systems top renovators’ wish lists.
What once seemed like science fiction is becoming commonplace, thanks to the proliferation of voice-activated assistants like Amazon Alexa that let homeowners turn on their oven or tell the thermostat to turn down the heat with a simple voice command.
Flexibility is a key component of today’s home renovations. People want to design their homes to better fit — and change with—their lifestyles.
This is seen most vividly in kitchens, where homeowners can customise the layout to their needs with modular appliances. Instead of one full-size refrigerator, for example, homeowners may use two narrower column-style refrigerators, one with meal ingredients close to the food prep area and another with snacks and other ready-to-eat items that’s easily accessible to all family members. Modular cabinets with contrasting designs and finishes are often used to add visual interest and define separate areas of your kitchen.
The mix-and-match trend is even trickling down to light switches and electrical outlets. Homeowners can customise these fittings with coloured veneers and graphic patterns to match the look of the room or to reflect their personality.
Electrical fittings are crafted with a range of materials and textures, each making a statement about you and your home. Wood and minerals have a rustic charm and elicit feelings of warmth while metals and glass convey a modern sleekness. Similarly, warm, vibrant colours energise a room while soft, cool colours evoke calm and relaxation.
Take a cue from one or more of these trends will not only give it a fresh face but also improve its efficiency and comfort.
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