Various interior designers predict a change in trends, not as in look and colour, but in reasons for renovating/redecorating:
Renovate properties 'to express your taste'
Giving a home a new look should be about expressing yourself and showing off your taste, according to one expert.
Writing for Mercury News, interiors author Marni Jameson explained that while in the past people have decorated their homes in a bid to attract potential buyers, now the time has come for homeowners to indulge themselves.
She explained that since many homeowners do not have a choice at present about whether or not they will move house, Ms Jameson said that they may as well make their home improvements for themselves alone.
Recently, Anna-Marie DeSouza, editor at Build It, suggested that many homeowners will be buying big items in the coming days to beat the tax increase on January 4th 2011.
And Phil Spencer (Location, Location, Location) advises homeowners to consider fitting wood floors.
According to the television program host, installing wood floors can be a good way to make a home more attractive to property buyers. Wood floors are a particularly good choice for families, as they are easier to clean than other flooring materials.
However, the property expert advised homeowners to carry out work now rather than waiting until just before they are ready to sell up and move on.
"There is no point improving your home just before you sell. You might as well do the work straightaway if you can and get the benefit out of it yourself."
Wood floors can be a popular choice for homeowners looking to add a defining feature to a room, as they are capable of adding character and warmth to any space.
Herringbone patterns are set to become the next big thing in wooden flooring fashions.
According to the designer Wendy Cole, wood floors are set to remain one of the most popular options for people redesigning their homes.
However, the huge choice of products and finishes now available means that wood flooring trends are bound to change from time to time. Ms Cole said new fashions are already developing and explained:
"From a design standpoint, large herringbone patterns are replacing boards."
However, anyone who does not like the herringbone look need not worry about getting left behind, as some styles of wood floors are timeless.
"Linear strip wood remains a stalwart, as it gives the illusion of a larger, more open space," Ms Cole added.
DIY expert Bridget Bodoano recently told the Guardian there are several affordable engineered wood flooring products available which could be suitable for people who want to install a herringbone-patterned floor in their home.