Ah, yes – another year, another opportunity to finally tackle those home renovation projects that you desperately want but have kept putting on the backburner.
Over the past few years, the renovation and remodeling landscape has changed considerably. With supply-chain delays, price fluctuations on key materials such as lumber, and labor shortages, and now rising interest rates – many people have their reservations as to when to embark on their renovation journey.
Here’s our forecast for the 2023 renovation season – and yes, we have some tips for you on how to best plan ahead.
Over the past three years expectations for the timeline of renovation projects have changed. While we’re not still collectively facing a supply chain breakdown, we are all working within a system that is recovering. Some supply chain experts are projecting that the impact of the pandemic will be noticeable for the next decade. Fortunately, for the most part, the time when we simply could not predict when we would be able to get certain products has passed. The industry has adapted, and while not everything is as immediately accessible as it was pre-pandemic, we are able to get fairly accurate estimates for how long it will take to get materials.
This means that a significant part of the timeline of most projects is the planning phase. Coordinating getting all the necessary materials, and where they will come from is a large part of that. The start date of your project may need to be planned around when your materials will arrive. If your last renovation project was before 2020, expect to see a significantly longer timeline.
Another direct result of the supply chain issues is the higher cost of materials. However, that is likely not the only reason homeowners are bringing higher budgets to the table. As people spend more time at home, they have gained a renewed appreciation for the value of enjoying their private spaces.
With travel at one time limited and currently less than ideal we’re seeing people reallocating vacation budgets to staycation renovations. That applies to recreation specific projects – like a new pool – we are also seeing our clients wanting to improve kitchens, bedrooms, and any other place that helps them enjoy being at home more.
It’s a big decision! One project seems to follow another doesn’t it? There are definitely some things that are easier, and more cost effective, to do if you do them all at the same time. Kitchens have been a very popular room for renovations. If that’s on your list it is important to know that they are the most involved room in most homes to renovate, and your timeline for a completed project will likely be longer than any other single room. So, if you’re thinking about a new kitchen in 2023 don’t wait to get started!
We have also worked on a lot of guest bedrooms and bathrooms. Since these are rooms you don’t typically use everyday they are some of the easiest as far as interruption of your day to day life goes. The big plus here is that when people are traveling to destinations less it’s nice to have a great place for friends or family to stay so they can come visit!
Another byproduct of spending more time at home is people thinking more about how secure their homes are. More and more things are easiest to get online, which means more deliveries. Fortunately, there are more and more home security products available at relatively low cost. If you are already doing other renovations it is a good time to consider adding any security you want.
While it’s not strictly for security, this includes outdoor lighting. Making your property more visible is always a deterrent to anyone who is hoping to get around undetected. We’ve covered the basics here, but if you want to go on more of a deep dive into the landscape of post-pandemic home renovations there is at least one published study on the topic. If you’re just ready to get started on your project get in touch with us. We’re excited to help make your vision a reality!