As we continue to live and work from within the home, a shift is likely to occur within many household’s monthly budgets. Rather than spending money on entertainment, many are likely to spend their spare cash on the latest home décor trends and renovation projects.
“For as long as the threat of infection remains, we are likely to see a trend of more people spending their money on home improvements and renovations instead of using their money to travel or for leisure activities,” predicts Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett.
To help homeowners spend their money wisely, Goslett suggests following the trends that are likely to remain popular for the foreseeable future to ensure good returns on investment. “Homeowners should be careful not to overinvest in trends that have a short shelf life. Real estate ought to be viewed as a medium to long-term investment. Any renovations ought to be done with this in mind,” he suggests.
Highlighting one such potentially long-lasting trend is the move towards an at-home study or office. According to Goslett, homes with their own enclosed study are in such high demand that many developers –understanding that this is likely to be a long-term trend – have switched their plans mid-way through construction to change third bedrooms into at-home office spaces.
The next trend that is emerging is to make the home as liveable, practical, and durable as possible. “Gone are the days where home décor focused more on form over function. Having spent so much time confined to our homes has highlighted the importance of having a home that not only looks good but is also comfortable and easy to live in. Those hoping to sell over this time should keep this in mind when staging their home,” he recommends.
Lastly, the latest décor trends seem to be leaning towards more earthy colour palettes and materials. Shades of rust, deep green, and greys seem to be popular among many interior design specialists. There has also been a shift towards repurposed or ethically sourced, natural materials. “Homeowners should keep this in mind when doing any renovations. Over time, it is likely that homes with environmentally friendly features (such as built-in cupboards made from reclaimed wood, solar panels, water-saving faucets, etc.) will become increasingly desirable, especially among younger buyers. Installing these features will not only help the current homeowner lead a more eco-conscious lifestyle, but could also add value to the home,” he concludes.