Were you aware that the interior design industry generates a considerable amount of revenue every year? You may be surprised to learn that this amounts to $10 billion on an annual basis. This revenue is expected to increase even further due to the demand for specialized interior design. Over the next decade, specialized interior design industries are expected to increase by around 20%.
Even though interior designers have been quite busy, many Americans haven’t updated their home’s decor in over five or ten years. A recent survey showed that 47% haven’t done so in five years, and nine percent haven’t done so in over ten years. Recently, however, 35% of the remodeling jobs that have been completed were for entire-home renovations.
It’s also interesting to note that when Millennials purchased a new home in 2014, they were just as likely as other age groups to have renovations made. This is because this age bracket wanted to create an environment that reflected who they were. In other words, they wanted to make it their own. So, too, do other age groups, such as Baby Boomers.
When it comes to older home buyers or existing homeowners, more than half of the households composed of adults 60 years of age or older are planning to thrive-in-place. As a result, they are having modifications made to create a more accessible and comfortable home.
Regardless of the homeowner’s age group, many appear to share common definitions of what a happy home means to them. The results of a recent survey, for example, showed that more than half of the participants had these common definitions:
- A place where you feel safe and secure: 69% agreed
- A place where you can relax: 64% agreed
- A place where you can be yourself: 57%
If you’re one of those individuals or couples that hasn’t updated their home’s decor within the past five to ten years or longer, you’re probably interested in learning more about trends in interior design. Whether you have specific design ideas or would benefit from some professional guidance, you can expedite your home re-design process by contacting a local interior design firm. When you’re also considering renovations, such as modifying your home to thrive-in-place, your local design firm will have contacts with interior architects and contractors.
Since you want your home to reflect your tastes, personality, and lifestyle, it makes sense to work with a professional team of architects and designers. Whether this is your very first home, or you’ve lived in it for decades or longer, isn’t it time to create the home you’ve always envisioned?