2023 is shaping up to be a groundbreaking year for luxury home designs. As homes get more expensive, the luxury home design industry is thriving, with a total valuation expected to exceed $100 billion by the end of the year. That flourishing market is buffered by the latest trends in comfort and style. Read on to learn what choices are making waves, some practical tips for home design, and the potential returns for home improvement investments.
The latest in luxury: Home design fads of 2023
Regarding the latest luxury home design trends, homeowners are constantly evolving ways to express their aesthetics via interior design. Here are some intriguing concepts that have risen to the fore in 2023.
Dive into cold plunge pools
Cold plunge pools are becoming increasingly popular in luxury homes as they offer a variety of health benefits. These pools are a great way to cool off during the summer and can also help to improve circulation, reduce inflammation, and boost energy levels. Additionally, cold water immersion has been shown to positively impact mental health, reducing stress, anxiety, and depression. As the popularity of cold plunge pools continues to grow, more and more homeowners are choosing to install them in their backyards. This is a great way to add a touch of luxury and wellness to your home, and it can also be a great way to stay healthy and fit.
Cozy up to energy-efficient fireplaces
Energy-efficient fireplaces are becoming increasingly popular in luxury home design as they balance warmth, ambiance, and sustainability. These fireplaces use less energy than traditional fireplaces, making them more environmentally friendly and cost-effective. They also come in various designs and can be seamlessly integrated into any interior style. As a result, energy-efficient fireplaces are becoming popular for homeowners who want to enjoy the benefits of a traditional fireplace without sacrificing their commitment to sustainability.
Toast life with wine cellars
Wine cellars are no longer just functional spaces in luxury homes. They have evolved into artfully designed rooms that showcase homeowners' wine collections and create a unique focal point in the house. These wine cellars often feature custom shelving, temperature control, and lighting, making them beautiful and functional additions to any home. In addition to storing wine, they can also be used for entertaining guests, hosting wine tastings, or simply enjoying a glass of wine in a relaxing setting.
Relax in massage rooms
Dedicated massage rooms are becoming increasingly popular in luxury home design as they offer a private space for homeowners to relax and rejuvenate. These rooms can be equipped with massage tables, essential oils, and other amenities to create a spa-like experience at home. Dedicated massage rooms are becoming popular for homeowners looking to improve their health and well-being, as they can provide a convenient and comfortable way to receive regular massages.
Keep it pure with water purification systems
Sophisticated water purification systems are becoming increasingly popular in luxury homes as they offer a range of health and wellness benefits. These systems can remove contaminants from water, including chlorine, lead, and bacteria. This ensures a clean water supply, which can improve the quality of life for homeowners and their families. In addition to the health benefits, sophisticated water purification systems can significantly add value to a home.
Essential advice for luxury home design
There's more to luxury home design than following trends — it’s about creating a space that reflects your style, beliefs, and aspirations. Here are some expert tips to help create a more personalized, luxurious space.
Get inspired
Inspiration is the spark that ignites excellent design. It can come from anywhere, so being open to new ideas and experiences is essential. When you find something that stirs your creativity, use it as the jumping-off point for your design. Let your inspiration guide you as you create something new and beautiful, whether it's a piece of art, a favorite vacation spot, or a cherished heirloom.
Choose and blend styles
Understanding your style is the first step in designing a luxury home. Whether you lean towards a modern, minimalist approach or prefer a more classic, traditional feel, defining your luxury interior design style can help guide your design choices. Look through magazines, websites, and your house for ideas — and don’t be afraid to experiment. One of the best things about luxury home design is that there are no rules. If you love a mix of styles, go for it! The most important thing is to create a space you love that reflects your personality.
Strategically utilize your space
Space planning is a crucial part of luxury home design. It is vital to consider the flow between rooms, the function of each space, and how you want to move around your home. When planning space, thinking about how you will use your home is essential. What are your daily routines? What activities do you enjoy doing in your home? The answers to these questions will help you determine the best layout for your space.
Incorporate elements of glamour
Incorporating glamorous elements, such as bold colors, curated art pieces, and high-end finishes, can elevate the sense of luxury in your home. For example, rich jewel tones like emerald green or sapphire blue can create a sense of luxury and sophistication. Curating a fine art collection, such as original paintings or sculptures, can add a touch of elegance and refinement. And installing high-end finishes, such as marble countertops or crystal chandeliers, can make your home feel luxurious.
Average return on investment by home improvement project
Home improvement projects can enhance your living experience and provide a decent return on investment (ROI) when it's time to sell. You can expect a good return on a midrange bathroom remodel (60%) or major bathroom remodel (55%). A minor kitchen remodel (72%) or major kitchen remodel (57%) typically improve your bottom line. Valuable exterior design projects include wood deck additions (66%), window replacements (69%), and garage door replacements (94%). Investing in your home's design improves your daily living environment and increases your property's value.
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*Header photo courtesy of RE/MAX Tru
