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Home improvement trends shift in 2014

Posted on Tuesday, March 11, 2014 at 10:18:20 AM

House hunters and current owners appear to be in the midst of shifting preferences when it comes to home improvement financing and design trends. 

According to the Interior Redecorators Network, consumers have changed the way they want to spend on these types of projects. Instead of splurging on new furniture, many people now want to refurbish their existing pieces. Homeowners have the desire to put their own spin on design and take on more projects without professional help.

"No matter where they live, regardless of how big or small their homes are, and whatever their stage of life, people across the U.S. are searching for great value and creating a unique home that reflects their personality," said Lauri Ward, co-founder of the IRN. "The trend started during the Great Recession and has continued to grow even as the economy and real estate markets have improved."

In addition, there is also increased activity for homebuilding and design. The American Institute of Architects reported an increase in business for residential architects, starting early in 2012 and continuing through the end of 2013. Spending on new homes has increased as well, potentially linked to improved financial conditions across multiple segments.