People with homes in Utah have a distinct advantage compared to those who live in other states. Because of the high demand for properties, the Beehive State remains a hot seller’s market.
According to the latest data from Zillow, a home in Utah could cost over $385,000. It already increased by 11% last year and could rise slightly by 11.2% in 2021.
Despite the demand, the market is still competitive. An outdated home, therefore, can stay on the listing for over 90 days. To avoid this dilemma, homeowners can consider doing a home renovation or interior decorating projects this year.
If these are major tasks, they can look for a mortgage lender and apply for refinancing. This isn’t a bad debt since renovations can potentially increase the value of the property.
What homeowners can be more concerned about are the latest interior decorating and remodeling trends. Which ones are in and out for the would-be buyers?
1. Open-floor Plans Are Possibly Out
Open-floor plans are the rage for decades that even tech giants like Facebook adopted them. This isn’t surprising as the layout creates more openness and illusions of space, especially for properties with smaller square footage.
However, the pandemic could likely make them a thing of the past. As many Utah workers hunker down and work from home, more residents realize the value of privacy and proper home division.
Further, the health crisis teaches homeowners the significance of having more rooms to convert into isolation areas if they get sick with a viral infection.
Adding a room may cost less than $300 per square foot, depending on the size and the design. Fortunately, creating many house sections is easier in Utah since a lot of homes are big.
2. Patterns and Bold Colors Are In
Business Insider, Vogue, and Forbes forecast that all-whites and minimalist designs may fall out of favor this year. Instead, more people would like to embrace patterns, colors, and eclectic pieces.
Again, the pandemic may have a hand in that. Being cooped up for months might have made residents discover that an all-white or plain-color design either in the kitchen or the living room is blah.
Meanwhile, not everyone finds great fulfillment in a minimalist space. They need more to showcase their personality.
When it comes to colors, eye-popping ones may be the most preferred choices. These include dark blue and one of the Pantone colors of the year, which is yellow.
On the other hand, the curated furniture pieces can be a smorgasbord of wood, metal, and other types of materials. The sizes can also vary, although the more exotic they look, the more appealing they may be.
3. Sustainability Is In
The growing problem of climate change and pollution, among others, fuels the shift to sustainability among consumers. In a study by Stern’s Center for Sustainable Business at the New York University, packaged goods that marked themselves as sustainable made up over 15% of the market in 2018.
The segment also generated revenue of not less than $110 billion. Sustainable products are also more likely to grow at least five times faster than conventional ones.
In Utah, potential homebuyers may want to see repurposed furniture pieces or fixtures made of wood, bamboo, or metal such as stainless steel.
It may be challenging to existing homeowners, but Ikea now carries more products made from recycled materials. By 2030, the brand commits to 100% sustainability in energy production and material sourcing.
4. Faux Plants Are Out
Utah homeowners who like to sell their house this year—or at least within the next six months—may need to put more effort into their outdoor and interior landscaping. Fake plants, while easier to maintain and cheaper to buy, may become out of season in 2021.
In particular, the pandemic boosted the demand for plants that some suppliers already struggle with keeping up the pace. Some people rediscover their love for gardening, while others now have it as a new hobby.
Many potential homeowners, especially millennials, now learn the health benefits of real plants. Studies have shown that these can help reduce the feelings of stress, anxiety, and depression. Some claim that certain plant types can improve the quality of indoor air.
Depending on the size of the space, landscaping projects can range between $5,000 and $10,000. Some home loans can help homeowners finance big-ticket items.
While trends come and go, those in interior remodeling and decorating tend to stay for a few years. Thus, they still make wise changes. Moreover, for those who want to let go of their Utah homes this year, these trends quickly sell their properties.
