Almost half of the UK’s homeowners plan to carry out home improvements over the next six months, according to a new survey by window manufacturer VELUX.
In the majority of cases (59%), the main reason for homeowners choosing to renovate is to either modernise their homes or to update interior décor that is now dated.
Some 10% of home improvers, however, are embarking on a project to create or improve space that they can then use to increase the amount of good-quality family time they spend together.
These 'family time' seekers, in particular, are willing to spend big when it comes to home improvements. Their planned average spend is £15,589, more than double the planned average spend for all home improvers (£6,444).
The survey also found that summer is a popular time for home improvements, with a considerable 72% of home improvers planning to begin their work over the next three months (July, August and September).
The kitchen, meanwhile, is the most popular room for renovation, with 47% of home improvers planning to give theirs a facelift, while 42% plan work on their living space.
In London, 30% of home improvers have plans for either an extension or a conservatory.
Home improvements, of course, won’t just improve your home; they will also improve your chances of selling.
Whether you are looking to sell up now or planning to move on to a new home at some point in the future, they can play a key part in getting the best possible price for your property.
Improving the look of your home will help to give it that added wow factor – whether it be through upgrading your kitchen or bathroom or adding an extension, conservatory or loft conversion.
It may involve revitalising your garden or just simply rearranging the look and feel of your living room. Whatever it might be, the plan is always to build and improve on what was there before.
As we know, standing out from the competition is absolutely crucial when it comes to selling a home, and that seems much more likely with a brand spanking new bathroom, a freshly updated kitchen or a dazzling new living area to show off.
Improvements to your home could also allow you to set a higher asking price, with things like extensions and new kitchens more than likely to increase the value of your home.
While some improvements will cost a lot and will make a dramatic difference to your home, smaller projects can also help to enhance the overall look of your property.
Completing DIY jobs that have been on the backburner for a few months, sprucing up the garden, converting the spare room into an extra bedroom, a home gym or an office, jazzing up your dining room with a new table and chairs, repainting the master bedroom – all of these things can improve the sales potential and marketability of your home. And, crucially, they won’t cost as much time, money or effort to complete as larger, more expensive renovations.
The desire to improve and enhance the look of a home is almost innate; many homeowners are forever tinkering, adding, expanding, working out ways of making their home better.
When it comes to selling your home that could make all the difference. Years of home improvements will likely pay dividends.
So, whether you’re improving your home to sell today, or improving your home with a future sale in mind, home improvements will rarely decrease the value of your home.
More often than not, it will make your home even more attractive to would-be buyers and should increase your chances of selling for the asking price or above.