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Kitchen Remodel Home Improvement Trends 2024: Why Now Might Be the Perfect Time for That Dream Kitchen

Bathroom, Honey Do News, Kids Rooms, Kitchen

Kitchen Remodel

Are you dreaming of that perfect kitchen remodel but waiting for the right moment? Good news – 2024 might be your year! Recent market trends show homeowners are increasingly tapping into their home equity for major home improvement projects, marking a significant shift from last year’s renovation slowdown.

Why Consider a Kitchen Remodel Now? The home improvement landscape is changing rapidly. After the pandemic-driven renovation boom cooled off, experts are now forecasting a strong comeback in home renovation spending, particularly for significant projects like kitchen remodels. Here’s what’s driving this trend:

Record-Breaking Home Equity

  • Homeowners now have access to an astounding $35 trillion in home equity
  • The average homeowner has approximately $400,000 in home equity
  • This represents an 81% increase since 2019

Home Improvement Spending on the Rise

  • Industry experts predict renovation spending will reach $477 billion by late 2024
  • Kitchen remodels continue to top the list of desired home improvements
  • Younger homeowners are planning projects averaging $60,000
  • Mature homeowners are considering updates around $30,000

Smart Financing Options

  • Lower interest rates are making home equity borrowing more attractive
  • Cash-out refinancing increased 50% compared to last year
  • Many homeowners with low mortgage rates are choosing home equity loans for renovations

Planning Your Kitchen Remodel With an estimated $30 billion in home improvement projects waiting to be started, you’re not alone in considering a kitchen renovation. Industry experts suggest this pent-up demand could lead to:

  • Increased contractor availability
  • More competitive pricing on materials
  • Better financing options

Expert Tips for Success:

  1. Start planning your kitchen remodel now to beat the rush
  2. Research financing options while rates are favorable
  3. Consider consulting with contractors early to lock in pricing
  4. Think about material selections ahead of time

The Bottom Line If you’ve been postponing your dream kitchen remodel, market conditions are aligning to make 2024 an opportune time to start your home improvement journey. With growing home equity and improving financing options, many homeowners are finding now is the right time to invest in their homes.

[Source: Based on reporting from The Wall Street Journal]

Looking to start your kitchen remodel journey? Stay tuned for our upcoming posts on trending kitchen designs and how to maximize your renovation budget!

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Each location of The Honey Do Service Inc. is an independently owned, fully authorized, local service provider.

If specialty licensing or permits are required to complete a project, appropriate authorized representatives from your local The Honey Do Service Inc will take actions ensuring state, regional, and or local guidelines are met and ensure legal operations.

Please contact your local The Honey Do Service, Inc. with any questions.

The Honey Do Service, Inc. will support a One-Year Limited Warranty, valid until the first anniversary of the date of project and/or service completion, on select project(s) and/or service(s) rendered. This One-Year Limited Warranty is valid solely on project(s) and/or service(s) completed in full by The Honey Do Service, Inc., and project(s) and/or service(s) paid in full by the recipient(s) of the project(s) and/or service(s). If the project(s) and/or service(s) are ceased by the discretion of the recipient(s) of said project(s) and/or service(s), or if the project(s) and/or service(s) is completed by The Honey Do Service, Inc., yet not compensated for the full amount of the agreed-upon, up-front price, the One-Year Limited Warranty shall be rendered nullified.

The Honey Do Service, Inc. will be notified, in writing, by the recipient(s) of the completed project(s) and/or service(s) within 7 days of first knowledge of any defect in craftsmanship completed by The Honey Do Service, Inc. The Honey Do Service, Inc. will be given first opportunity to promptly repair and/or correct any defects as a direct result of craftsmanship within a reasonable timeframe at the discretion and availability of The Honey Do Service, Inc.

This One-Year Limited Warranty will not apply to any project(s) and/or service(s) that have been subject to accident, misuse, abuse, Force Majeure, nor to any project(s) and/or service(s) that have been modified, altered, defaced, and/or attempted to be repaired by any vendor and/or individual(s) other than The Honey Do Service, Inc.

Under no circumstances shall The Honey Do Service, Inc. be held responsible for damage(s) that occur as a direct results of defective materials. No repair(s) or replacement(s) shall extended the duration of the One-Year Limited Warranty or any applicable part thereof.

Step 1: Request Your Free Estimate

Each project starts with a Free Estimate. Contact us by phone form 8:00 to 4:30, Monday through Friday - or use our simple web form at your convenience. 

Step 2: Schedule Your In-Home Visit

We will contact you within one business day for a brief phone conversation. With a little more information, we can determine if we need to visit your location to gather details or quote your job over the phone.

Step 3: Receive Your Fixed-Cost Proposal

If an in-home visit is necessary, we will plan around your schedule for the next available time slot. One of our experienced project managers will view the project area, take detailed measurements, gather your preferences, take photos or video as necessary, and present a FREE FIXED-COST project proposal to you. This will be an all-inclusive view of your project considering materials, timelines, and budget options. You will be fully informed and well prepared to choose The Honey Do Service as your project partner.

Step 4: Get Your Project on the Calendar

Now that you have chosen The Honey Do Service to be your trusted local source for home improvement, repair, or remodeling, we will schedule the necessary workdays around your availability and our next bookable time slot. Depending on the scope of work, material order, and our specialists’ schedules, this could be a week or more into the future. Our team respects your busy schedule and will show up on the scheduled day, on time, and will stay until the project is complete. Guaranteed.

Step 5: Master Craftsmen Complete Project

The day has arrived! It’s the scheduled date and time for Honey Do Service to be at the job site ready to get started. You’re more than welcome to leave us to it or to stay and supervise. Either way, we’ll make sure you’re as proud of the finished project as we are! Your satisfaction is our #1 priority. After all, your home is your most important asset, and we recognize that.

Step 6: Clean-Up & Final Approval

The Honey Do Service is a team of local master craftsmen dedicated to your satisfaction. Our specialists will complete the work assigned and are not finished until you are happy with the final product. Even after the work is complete, we honor a 1-year warranty on all workmanship for every Honey Do project.

Step 7: Enjoy!

Congratulations! Your job is complete, and we are so proud you chose The Honey Do Service. We hope this is just the beginning of a long partnership and that we will hear from you soon about the NEXT home or office project you have.
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