2023 renovation trends (and how to budget for them)

Estimated reading time
 6 min

In this article

• Find out the latest renovation trends
• 5 tips for creating a renovation budget
• Get handy budget tools to plan your spending

Thinking about starting a home renovation? You’re in luck - everything from bold colours to relaxed living and mixed materials are back in vogue this season. But how do you renovate on a budget – or afford the latest trends? We've pulled together some practical ways to help you with your dream reno.

What renovation trends are in?

Like fashion, renovation and styling trends go in and out of favour. And at the moment, the overarching themes are all about wellness and fun.

See how you can bring these elements to life with the below home renovation ideas and trends:

Add a feature element

Got a nice piece of artwork? Want some funky wallpaper? Or a piece of antique furniture? Whatever your style, adding a feature element to your newly renovated home can really make a space pop.

Tip: Feature pieces don’t have to be expensive! Try dusting off that old timber chair you’ve got in the garage or trawl your local buy, swap, sell site for a piece of furniture you can repurpose!

Bring the outside in

This one is for the green thumbs! Bringing the outdoors in is high on the agenda for 2023 renovators. Whether it be adding a few plants to a room, including big windows in your plans or designing your home so it opens onto an outdoor space – there’s lots of ways to hero the outdoors.

Tip: Get savvy with your purchases – find an old window or some pots for planting at a garage sale!

Create a relaxation zone

With so much happening in the world right now, relaxation is a big priority – especially in the home. Try going for a warm or calming colour palettes (think earthy tones, blues and pastels), let in natural light or make a special zones for unwinding – like a sitting area with comfy chairs, a reading nook or a luxe bathroom. How’s that for boosting your feeling of wellness?

Tip: Shop the end of financial year sales! You’ll be surprised at how much you can save on things like furniture.

Add colour

The minimalist aesthetic of years gone by is out – and bold colours, prints and decorations are back! Let your creativity run wild with style or design choices that will make your room sing. From a bright yellow feature wall to a deep blue couch or a burnt orange bed spread, there’s lots of ways to bring colour and fun into your home.

Tip: Why not try DIY? Grab a paintbrush, pick a colour (and a wall!)  and away you go. Don’t forget to prep your space first.

Make it practical

Whether it’s your layout or the appliances you choose, make sure every element of your home renovation has practicality in mind. Need more space in your kitchen? Why not buy hybrid appliances, like an oven with microwave function, to save room? How about more cupboard space? See if you can add some extra in your bathroom or bedroom. Not only are these things practical to use, but they help reduce visual clutter too – keeping your mind happy and healthy.

Tip: Consider alternative brands or items – just because it’s more expensive, doesn’t mean it’s better.

5 tips for creating a renovation budget

1. Research the products you want early – this way you can keep an eye out for any sales, or order something and pay it off in instalments that suit your renovation budget.
2. Decide what your 'must-haves' are – lock in your non-negotiables before you start so you’re clear on what you do and don’t want, and how much they will cost. This will help you stick to your budget!
3. Get multiple quotes from tradespeople – so you know you’ve got the best price (and person) for the job, ask a few different people or businesses for a quote.
4. Find out if you need a permit – make sure you talk to your local council or building inspector early so you’re not chasing any last-minute permit approvals – or dealing with unforeseen costs.
5. Have a buffer (just in case) – hopefully you won’t need it, but it’s always smart to have a financial buffer, like a rainy day fund for your reno, just in case. Typically, this is 10-20 per cent of your total cost.

And remember, your renovation is only as good as your budget - so make sure you keep yourself, and your project, on track. If you still feel like your budget is in hibernation, check out our article hub for further resources. Or read this article on budget hacks for small or supersized renos. Good luck and happy renovating!