Most Homeowners Don’t Move, They Improve!
If you’ve lived in your home for almost two decades and chosen to make improvements instead of moving, you are part of a majority group of homeowners in the UK, a new survey has found.
Let’s face it, while moving home is undoubtedly exciting, it’s also expensive and involves a lot of hassle. It’s no wonder then that more and more people are focussing on improving their existing homes rather than buying a new one.
According to the 2018 Barclays Home Improvement Report, the average amount of time people stay in their home before moving is 19 years. During this time, they make regular updates to their properties. In fact, 54% of UK homeowners would rather make improvements to the current homes rather than moving to a new, the Barclays survey found.
A quarter of homeowners said they would love to move, but the challenging UK property market has meant they simply couldn’t afford to do so.
In terms of the most popular home improvements, fitting new carpets (35%), installing a new kitchen (31%) and landscaping the garden (29%) topped the list.
Bi-fold doors leading into the garden (30%), smart home tech (26%) and a spa bathroom (20%) were cited as the improvement projects homeowners most desired.
Homeowners are committed to improving their homes
While the main reason given by homeowners for carrying out improvements was to make their properties better reflect their personal taste (48%), one in four people (25%) said they did so to improve the value of their home.
The survey also revealed that the UK home improvement market is actually booming, with 79% of respondents saying they have made improvements over the past two years and a further 73% saying they plan to do so in the next 12 months.
When it comes to the biggest interior design turn-offs, woodchip wallpaper (60%), mirrored ceilings (49%) and carpeted bathrooms (46%) emerged at the top of the list of improvement faux pas.
Interestingly, the report found that social media is significantly influencing people’s property update decisions – particularly among younger homeowners – with 43% of 23- to 34-year olds saying they had been inspired to make home improvements after they saw something on social media.
A further 15% of respondents even admitted to making home improvements just so they could show them off on their social media channels.
Speaking about the findings of the survey, TV property expert Phil Spencer said: “There has long been an appetite for home improvements in the UK, and with so many of us now staying in our properties for such a long time, it is clear that our homes are so much more than just bricks and mortar – they are a space for us to relax and enjoy times with our loved ones, so it is important to make them fit for purpose.”
Have you been in your current home a while? Would you love to make some improvements but don’t know where to start? We can help!
Contact Aquarius Home Improvements today. We’d love to discuss your needs and wants.