Renovations and Homeowner Investment Increasing
It’s been a tough year with the global pandemic impacting jobs, income, and responsibilities. Parents are juggling work, child care, and at-home education, but with all that change, they are gaining new perspective on the places they call home. What was once the place, “they came home to,” is now the place they spend 24 hours a day. This is driving changes in what families want in the design of their space. Consequently, the NKBA Economic Indicators Dashboard notes home ownership spikes as high as 20% in Q2 of 2020 and the renovation industry is adding jobs, up almost 5% according to the same report.
Nina Green, Principal Designer for NGD Interiors, a Philadelphia Interior Design Firm, recently commented, “Homeowners, especially those with families, are shifting from open concepts and floor plans, to more traditional architecture. Rooms that can be closed off for offices, playrooms, and individual spaces are helping homeowners better manage playtime for the kids, conference calls for work, and peaceful alone time.” Even if the challenges with Covid-19 are minimized over the next year, the traditional work environment has changed, education has changed, and homeowners realize that quarantine conditions could happen again. With mortgage rates continuing to drop, homeowners are increasingly interested in updating and renovating their home to keep their families happy.
In addition to modifying the architecture of homes to more traditional layouts, homeowners are investing in the furniture and finishes to enable their new lifestyle. “Instead of just purchasing an inexpensive, build-it-yourself desk for an office, they are investing in heirloom-quality furniture that withstands heavy use and the accessories like lighting, window treatments, rugs, and more to complete the look and feel of the room where they will spend most of their day,” says Nina. This extends to all rooms where childrens’ bedrooms are getting sophisticated upgrades, living rooms are expanding with more traditional furniture, and dining rooms are making a comeback. “However,” says Nina, “the biggest change is in outdoor spaces where homeowners want space to cook, swim, run, play and relax outside without having to travel to a congested park or lake.”
Nina commented that homeowners are surprised at how cost effective a renovation can be, when you plan it correctly with an interior design professional. Unfortunately, homeowners generally believe they can’t afford a design professional. “If your budget is $25,000 or higher, the cost for a designer is minimal and they can save you thousands in change orders, contractor confusion, and product selection,” says Nina. Interior Designers do more than decorating; they handle the entire renovation project, start to finish. NGD Interiors’ website, talks about the process (https://www.ngdinteriors.com/interior-design-process/) and how they handle drawings, space planning, product selection, contractor management, and photorealistic renderings and virtual reality presentations. These allow the homeowner to see what their space will look like and understand the actual cost, before they ever start demolition.
“Now is a great time to start a home project,” says Nina, “you can update and enjoy the place you live and increase the value of your home at the same time.” While Nina says you should definitely start with an email or call to NGD Interiors, there are several resources to find designers including NKBA.org, houzz.com, ASID.org, and more.
NGD Interiors (www.ngdinteriors.com) is an award-winning interior design and kitchen design firm located in the Greater Philadelphia Area. Nina Green’s work has been featured in regional and national publications and she continues to delight clients with beautiful kitchens and stress-free interior design.
SOURCE NGD Interiors
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