Want to make your house a home? Be sure to budget £5K
One in four new homeowners take more than six months to feel at home in their new pad, according to Sainsbury’s Bank Home Insurance.
The provider found that a third (29%) spend £5,000 or more on their properties in their first year of owning a new home.
But, despite the significant investments being made, under half (47%) of new homeowners update their home insurance policy if they purchase a big ticket item for their new property.
Karen Hogg, head of home insurance at Sainsbury’s Bank, said: “Turning a property it into a home is rewarding but it can be expensive. Our research found that the vast majority (94%) of homeowners have both building and contents insurance but around half of them are not re-visiting their cover if they add items and improvements.”
The financial firm has published five tips for making a house into a home:
Be inspired: Start creating Pinterest boards and follow bloggers to gather ideas on how to decorate your new home on a budget.
Quick wins: If you’re exhausted after moving, think about the quick wins that will have an immediate impact on how homely your property feels, such as putting up lampshades and adding throws to a sofa.
Add some greenery: Grow some plants or herbs in your kitchen to boost the vibrancy of your new home.
Say hello to your neighbours: Feeling part of the community from the get-go will provide you with more positive associations with home.
Consider costs: Make sure you’re covered with both buildings and contents insurance when moving into a new property.