Homeowners are always looking for ways to improve their home, either for their own benefit or for the purpose of a sale.
However, it has recently been suggested in findings by Tile Depot that Britain’s homeowners prefer smaller, realistic renovations as opposed to larger, more costly home extension projects.
Kitchen and bedroom renovations have proved increasingly popular in the last couple of years, while attic conversions have gone in the opposite direction, the study suggests.
The latter can be quite troublesome as the process of converting lofts or attics can cause a lot of disruption and upheaval for the owner and neighbours.
The conversion is likely to take a minimum of six weeks; an extensive operation which requires careful planning and shouldn’t be underestimated. Whereas, renovating kitchens, bathrooms or bedrooms is usually a much simpler process and is likely to take less time.
The research from Tile Depot also uncovered that homeowners are keen to renovate kitchens and bathrooms over larger-scale conversions as it is also likely to cost less.
Unsurprisingly, saving the pennies is a popular choice with homeowners, which is why just 6% of those surveyed claimed that they had completed a loft or attic conversion in the past three years.
If homeowners require a little more space, it seems they’re more likely to sell up and find somewhere larger than partake in a hefty conversion project.
Cost is also a decisive factor, it seems, when it comes to loft conversions, which cost an average of £25,000. To put it into perspective, the most popular renovation – the kitchen – costs less than half of that at an average of £10,000.
A bathroom refurb, meanwhile, is also considerably cheaper than a loft or attic conversion – the average amount spent sprucing up a bathroom is just £5,000.
Of those who revealed that they would prefer to partake in smaller renovation projects, 14% said that improving the value of their property was the reason for the decorative changes, hoping to attract the attention of prospective buyers and make a sale.
However, 50% of those questioned said they completed a home renovation as a matter of urgency, citing that necessary repair and general wear and tear are the reasons behind making the alterations to the property.
In a previous blog we informed homeowners of the risks that winter poses to a property, so these changes could help prevent future damages.
The nation's renovation is not only being completed by sellers looking to spruce up their home, but it has also been reported that, on average, property buyers spend more than £10,000 in the first year after moving into a new home.
If you are selling up, though, making these smaller renovation tasks a priority, means your future buyers won’t have to carry out as much home improvement. This could see you end up receiving an offer for your home that is higher than the initial asking price.