Millennials, Inflation Seen Impacting 2023 Home Design

SCARSDALE, NY — Millennial preferences, inflation’s economic realities and social-media-sharable spaces will be among the key factors impacting home design in 2023, according to The Plan Collection, an online resource for house plans developed by leading designers and architects.

While residential design “will be cozier, more relaxed, and aesthetically pleasing, with inflation approaching 10% and higher in some categories, spending on large projects might be out of reach,” reported The Plan Collection, adding that homeowners will be trying to “get the most bang for their buck by pursuing smaller projects with bigger impact in the coming year.”

“Home design will experience meaningful change in 2023, with some design trends driven by inventive, new ideas inspiring millennials – a social-media-driven generation representing more than 40% of home buyers – while others will be influenced by the practical reality imposed on budgets by higher interest rates and inflation,” said Laurel Vernazza, a home design expert at the Scarsdale, NY-based The Plan Collection.

Among the leading home design trends for 2023, according to The Plan Collection, are the following:

  • Tiny Spaces with Big Impact: Since interest rates are increasing and homeowners are staying put, owners are reimagining overlooked alcoves, nooks and corners to be redesigned into compact, colorful and inviting spaces. “An unremarkable space below the stairs might get revamped with a collection of framed photographs, distinctive art, fabulous lighting, and a vintage cabinet or a dead-end hallway might be transformed into a tranquil meditation space or cozy reading corner,” Vernazza said.
  • Affordability: The modern bungalow gets increased attention from millennials and empty nesters who want to downsize affordably but with style. “One-story modern bungalow designs are typically less expensive, offering curb appeal, high ceilings, contemporary open floor plans, larger bathrooms and a 21st-century exterior,” Vernazza said.
  • Staying Put with Floating Sinks and Vanities: “Expect kitchen and bath solutions that are attractive and affordable while creating a larger sense of space to be especially popular,” Vernazza said. “In the bath, floating sinks will be the center of attention, especially in small bathrooms and powder rooms. Floating sinks/vanities can make a small space feel larger and enhance the room with their clean lines and sleek look.”
  • Accent Walls Refined to ‘Zoom-Ready’ Spaces: Accent walls hastily created by people working from home during the pandemic will branch out beyond the bookshelf or virtual background. “Accent walls express more personality with materials like stone, brick, tile, wood and modern wallpaper,” Vernazza said.
  • Mother Nature’s Colors: Nature-inspired shades of green, blue and lilac inspire visions of meadows filled with wildflowers, all surrounded by green trees and a clear blue sky. Whether on the wall, a pillow or on furnishings — these pops of color are a welcome addition to the whites, greys, and blacks so often used throughout the home.
  • Natural Wood: Natural wood is not just for floors. Exterior wood trim, garage doors and framed entryways give homes a warm and welcoming feel. Stunning interior accents include wood beams, impressive wood highlights for vaulted ceilings or patterned accent walls.
  • Prep Pantries: “Designers add prep pantries, the successor to butler pantries, to new homes – a separate prep area usually located off the kitchen/dining area.” Vernazza said. “With so much kitchen entertaining, unsightly items are kept from view in the prep pantry.”
  • Friend’s Entry & Well-Appointed Mudroom: A throwback from the late 19th and early 20th centuries, the friend’s entry offers an additional door into the home leading to transitional space between the outdoors and the main living areas, Vernazza said. “Today, homeowners are reinventing the mudroom into this very space,” she added.

Millennials, Inflation Seen Impacting 2023 Home Design