Thanks to the unstable property market, more homeowners are planning to stay put instead of buying a house the next size up. As a result, the home renovation projects they undergo tend to be for the long-term.
According to a recent study by Houzz, three in five homeowners intend to stay in their properties for at least 11 years after renovating,
DIY Week reported.
It also found the number of people who undertake home improvement jobs to boost the value of their house fell by five per cent in 2022, with fewer homeowners planning on moving after the work is complete.
Liza Hausman, vice president of industry marketing at Houzz, said: “Homeowners are committed to their current homes and we continue to see investments that help spaces to function better for the long-term.”
As a result, instead of just redecorating to make the house look better, structural jobs have become a priority.
This could include
fitting an extension with a flat roof to provide more living space downstairs, upgrading electrics and plumbing, and taking care of windows and gutters.
However, homeowners are still keen to have modern kitchens and bathrooms, with 37 per cent opting for a new cooking area while 33 per cent plan on fitting new washrooms.
According to
uSwitch, the current top ten most popular home improvements include building a home extension, roof replacement, getting new windows, a loft conversion, and building a shed.
Fitting outdoor kitchens, landscaping, and insulating the attic were also high up on the list, with nearly half of UK homeowners having started a home improvement project of some sort in 2021.
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