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According to Opendoor’s 2024 Home Decor Report, homeowners are still investing in renovation trends like 'new neutrals' paint jobs, kitchen upgrades, and refinishing existing materials despite recent housing market challenges and inflation. In fact, the average American will spend $5,635 on home remodeling projects this year.
About the Survey: Opendoor surveyed 1,041 homeowners ages 25-74 who have decorated or remodeled in the past two years or have shown interest in doing so.
We reviewed Opendoor’s data and spoke with a design expert to get insights on this year’s home decor and renovation trends. When it comes to how home owners (and renters) are prioritizing their spending, we learned that paint makes a difference, kitchens renovations are top of the to-do list, and new or repurposed decor can liven up a space. Beyond that, here are some of the most popular home upgrades American homeowners want to try ASAP.
When asked about their top-priority remodeling project, 33 percent of respondents said painting, and another 27 percent said the kitchen. Here are some other important upgrades Americans want to make in their homes.
For a relatively easy home renovation that may or may not require a handyman, 25 percent of homeowners want to update light fixtures before anything else. The scale and design of overhead lighting can make a significant impact on the look and feel of a space.
Updating floors is the most important home renovation for 24 percent of homeowners. While the cost and labor can be significant, a fresh wood floor or carpet can make a space feel brand new. However, if the scale of this project is too much for the moment, consider a new area rug or a different paint color to offset dated flooring.
Of all the kitchen renovation projects, 22 percent of homeowners say they want to (or have already) installed new kitchen cabinets. Trendy kitchen cabinet styles come and go, but for longevity, consider a style that coordinates with your home style. For example, shaker-style cabinets look great in older Craftsman homes, while slab-style cabinets work well in homes from the mid-century. If new cabinets aren't in the budget, consider painting them to give them a fresh, new look.
Kitchen counters are the most important project for another 22 percent of homeowners. It’s an upgrade you can do on its own or with a full-scale kitchen renovation. While granite and quartz are popular among homeowners, home design expert Dabito prefers marble. “I think Calacatta marble is making a big splash in the kitchen. It has a lot of bold, unique veins that can add movement and texture in a kitchen space,” he says.
Dabito is an interior designer, color expert, and creative director at Old Brand New.
Not all home renovation projects need to break the bank. In some cases, they don’t even involve demolishing a space. Here's how homeowners plan to save money when updating their homes.
Painting a room was the highest priority home renovation listed in the survey, but it was also chosen as the most affordable. According to Opendoor’s 2024 Home Decor Report, the top home colors are (in order of popularity):
So we can expect these to show up quite a bit in renovation projects next year. “These colors can provide a sense of calm for those living in (and visiting) a home. Traditional neutrals offer a blank slate for home shoppers to easily envision their style,” Dabito says.
“That said, I’m big on color, so I anticipate that the ‘new’ neutrals will be muted tones that are grounded and offer stability—think light blue, light green, dusty rose, and eggshell yellow," he explains. Dabito also suggests that Sherwin Williams 2024 Color of the Year - "Upward" (SW 6239) - is in line with that assumption, with many choosing subdued blues and greens as emerging shades.
"These colors can add warmth to a space without overwhelming the senses,” he says.
Updating your seasonal decor is the most affordable to update your home, according to 55 percent of homeowners. But does this count as a home renovation? Sure, if you consider that a renovation can include any project that improves a home, whether that be cosmetic, structural, or a decor change that improves the visual appeal of a space. (Think of how effective home staging is when you sell your home.) Try swapping out fabrics throughout your home from cotton and linen in the warmer months to velvet and wool in the winter.
Some house projects won’t require spending at all. Changing the layout of your furniture was chosen as the best wallet-friendly update by 49 percent of homeowners. And Dabito is a fan of using what you have to make a big change.
“Changing furniture is a great way to make a space feel new—without having to change a home’s structure or layout,” he says. “One of my favorite tips is to use furniture as a divider. Try moving your sofa, so it becomes the separator between a living area and the kitchen, for instance. Or, you can have your furniture float in the middle of the room rather than against a wall.”
Flow in any space is important, so reimagine your bedroom or living room in a new layout that might offer a better flow. Round coffee tables for smaller living spaces also work well because they’re more inviting.
Sustainable projects can save money, so these home renovation trends are excellent for your wallet and the earth. Here's how homeowners take care of their environment while upgrading their homes.
Just because your furniture and decor seem dated doesn’t mean you need to toss it. Homeowners agree that refinishing existing materials is a conscious way to update your home without adding to the landfill.
“One of my favorite ways to refinish existing materials is to let the natural beauty of an existing piece shine through, says Dabito. “Peel-and-stick tiles are fantastic for any outdated tilework in a kitchen without having to commit to a full-on renovation.”
Installing dimmers is a relatively easy DIY project that improves energy savings. Also, dimmers can enhance your quality of life by providing a range of brightness throughout the day. Just remember to turn the lights off completely when you leave the room for maximum energy conservation.
Just like refinishing other materials in your home, you can also give your old wood an upgrade. Staining or painting wood is a beginner-friendly project and will make use of materials that would have otherwise been tossed.
“Staining a wood furnishings like a side table or cabinet is a great way to make its natural qualities stand out while making it feel new. On the flip side, I also love reimagining an old piece with a fresh coat of paint,” Dabito says.
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