For many homeowners, 2024 will be the year of home improvement. With mortgage rates sitting well above 6%, most aren’t willing to enter the housing market – which would mean essentially swapping their sub-4% mortgage rates for much higher ones.
Instead, as U.S. News reports, renovating their existing homes will make more sense – allowing them to hold onto those low rates while making their properties more comfortable, livable and convenient.
One of the most popular trends for remodels is adding a small deck or porch to allow for more leisure time outside. Homeowners are increasingly looking to add outdoor areas for gathering and relaxing. According to Mitchell Parker, senior editor for Houzz, searches on the home design platform for “small screened-in porch ideas” are up over 500%, while searches for “small backyard patio” and “small front porch” have increased as well.
“A focus on outdoor space remains,” says Christa Kenin, a real estate agent with Douglass Elliman in New Canaan, Connecticut. “Outdoor spaces with multiple lounging and dining areas are in demand – plus spaces for outdoor recreation.”
Parker recommends turning unused side yards or entry areas into small decks or patios, while homeowners with more space can add larger decks further removed from the house to “enjoy a more secluded retreat.”
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