Top 5 Home Renovation Trends for 2023

Top 5 Home Renovation Trends for 2023

Top 5 Home Renovation Trends for 2023

Whether you’ve lived in your place for years and want to update it, or you just moved into a house that needs some TLC, it’s smart to spend your time and money investing in renovations that offer high return on your investment. That way, if you sell your home down the road, the remodeling you did will be attractive to buyers and garner you a higher price.

Here’s our list of the top five home renovations for 2023. If you’re trying to decide what to tackle first, consider one of these.

Outdoor Living Upgrades

Being able to enjoy the outside adds a new dimension to your home. Plus, sunshine and fresh air work wonders on our moods! Consider fencing in your backyard, adding a patio or deck, or building a screened-in porch. If you have the budget, add a dining area, or even an outdoor kitchen, to your backyard. These outdoor areas give your family an additional place to entertain, relax, and recharge without ever leaving home.

Home Office Remodels

Working from home is a full-time reality for many folks. Since most of us work at least 40 hours a week, it makes sense to have a dedicated area for doing it. Instead of toiling away on your dining room table or cramming a desk in the corner of your bedroom, add an office space to your place. If you have an extra bedroom, clear it out and remodel it into a functional office area. No extra space? No problem! Purchase a shed or renovate your garage to make an on-site office area.

Bathroom Renovations

Who doesn’t crave a large, updated, spa-like bathroom? We all do! Bathrooms are high-use areas of every home, which is why updating them is a good idea. Tear out old tubs, toilets and vanities to replace them with high-quality, functional pieces. Add some complementary flooring, a nice coat of paint, and some storage space for greater functionality. While bathroom renovations can get costly, they are worth it when you consider your family will use and enjoy them every day.

Kitchen Updates

Fully upgraded kitchens are many a homeowner’s dream. We spend tons of time in the kitchen cooking, eating, cleaning and just hanging out. Upgrading the flooring, cabinets and countertops plus purchasing new appliances are big ticket items that pack a huge punch in how welcoming and comfortable a home feels. Finishing touches like high-quality faucets, a fresh coat of paint, and a colorful tile backsplash are the icing on the kitchen cake.

Multi-Use Space Design

Another hot trend getting everyone’s attention is ditching single-use areas. Doing this helps families use their space more effectively and get more out of every square foot. Instead of keeping a guest room available for those three nights a year when you have company, purchase a pull-out couch and use that space for a home office or craft room. Build extra storage under your staircase, or add a pull-down desk in your bedroom. With some creativity, homeowners can make the most of the room they have and enjoy their property more.

On a Budget? Opt for Some Mini Upgrades!

You may be reading this thinking you don’t have the four or five figures worth of cash some of these hot renovation trends demand. Fortunately, you can still freshen up your space, even if you can’t spring for a complete remodel. Some budget-friendly remodel ideas are:

  • Add a fresh coat of paint to your kitchen or bathroom.
  • Upgrade to high-end kitchen and bathroom faucets.
  • Install a gorgeous kitchen light.
  • Purchase some modern cabinet knobs for your kitchen.
  • Hire someone to professionally clean your carpet.
  • Paint your kitchen cabinets.
  • Add some bead board to your hallway.
  • Paint your fireplace.
  • If you can’t do an entire kitchen upgrade, replace the countertops.
  • Buy longer drapes and hang them just below the ceiling (to make your windows look larger).

If tackling some home renovations is on your list for 2023, choose from these trends wisely. It pays to think closely about what your family enjoys, where in the house they spend the most time, and what would have the most positive effect on your daily lives. From there, let your creativity and your budget be your guide.


Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020