Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
Islands Continue to Be Main Draw in Kitchen Design ☘ Hoey Team ☘ eXp Realty
Dated: January 13 2020
Make sure that kitchen island shines because home buyers may increasingly be sizing it up. Large islands are a prominent feature in kitchen design today, and most remodeling homeowners are putting high importance on this central kitchen spot.
In a survey of nearly 2,600 homeowners conducted by Houzz, a home remodeling website, one third of homeowners said they added an island during renovations and nearly a quarter of owners said they upgraded their current one.
Islands are getting bigger. A third of remodelers had kitchen islands that measured seven feet long, while another 39% had one that was six to seven feet long.
For the finish of the island, two in five renovating homeowners added or upgraded their island cabinets for a contrasting shade to their main cabinets. Gray was the most popular choice for that at 26%, followed by blue (19%) and black (11%).
Contrasting the countertop colors of the island was also common among remodelers. The most popular choices for contrasting the island was white (23%) and medium wood (21%).
Remodelers also made sure their island had storage features too. Further, more than half—or 52%—featured built-in appliances, such as microwaves, dishwashers, garbage disposals, cook tops, and beverage refrigerators.
The Houzz survey found that of major kitchen remodels completed in mid-2019, homeowners spent an average of $35,000—which is up 17% from a year ago. Houzz considered a “major kitchen remodel” as one that included at least all cabinets and appliances being replaced. While spending is up, fewer homeowners this year, however, opted to upgrade countertops or sinks as well as tackling structural changes, like opening the kitchen to other interior rooms.
“It is remarkable to see median spend on kitchen remodels grow by double digits for the third year in a row,” says Nino Sitchinava, Houzz principal economist. “Combined with a two-year decline in the scope of kitchen remodels, spend increases confirm our findings of significant price inflation in the home remodeling industry due to changes in international trade policy. Homeowners are dealing with increasing product prices by substituting materials, as indicated by slower growth in the use of engineered quartz and a decline in the popularity of engineered flooring materials, highly impacted by tariffs on imported materials from China.”
Some additional kitchen trends that emerged from the Houzz survey:
- Taller backsplashes: More backsplashes in the kitchen were installed that stretched all the way to the ceiling. Or, homeowners installed tile from their counter to their upper cabinets or range hood. The most popular colors for backsplashes: white (35%), multi-colored (20%), and gray (15%).
- Vinyl flooring: Vinyl flooring is becoming a trendier choice for renovated kitchens. This hardwood alternative has climbed in popularity from 10% in 2018 to 14% in 2020 among remodelers.
- White shaker cabinets: White continues to be the most popular cabinet color (45%), followed by medium wood (11%) and gray (10%). Shaker cabinet door styles are by far the most popular choice among remodelers.
- Recessed lights: The most popular light fixture upgrade among remodelers is adding recessed lights, at 69%, followed by under-cabinet and pendants lights (65% and 56%, respectively). Ninety-two percent of homeowners upgrading their kitchen island also chose to install new lighting above the island.
Article content from NAR (National Association of REALTORS) REALTOR Newsletter Magazine, and from other sources.
If you have questions on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can address / answer your questions, and we are always available to help.
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats. Thanks, Barry & Kim ☘”
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
A price increase of almost 20% year-to-year is unheard of – until now. Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.WASHINGTON (AP) ;
Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.MCLEAN, Va. –
Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located at this time.Hot off the press