The top 10 home improvements in the last five years
Interior redecoration, new bathrooms and flooring top the home improvement list, according to GoCompare.
The price comparison site found that most (85%) homeowners surveyed have updated or improved their property in the last five years.
The main motivation behind undertaking improvement works was to improve the general appearance of the property (60%), followed by essential maintenance which accounted for 38% of the projects.
Nearly a quarter (23%) said they’d undertaken works with the aim of adding value to their property. For some (14%) improving their existing home made much more sense than moving, while the desire to follow the latest trends in home design and décor inspired 8% to update their home.
Top 10 home improvements in the last five years
1 Interior redecoration 46%
2 Installed a new bathroom 27%
3 Replaced the flooring 26%
4 A garden make-over 24%
5 Installed a new kitchen 24%
6 Installed a new boiler or central heating system 24%
7 Installed new windows/double glazing 19%
8 New shed or other garden building 16%
9 Exterior redecoration 13%
10 Improved the insulation 11%.
Don’t forget insurance
The study also revealed that 62% of those carrying out renovations did so without telling their home insurer – potentially invalidating their policy.
Ryan Fulthorpe, from GoCompare Home Insurance explained: “Generally speaking, if you’re planning to freshen-up your home with a lick of paint or by replacing the carpets, you don’t need to tell your insurer. However, unless you’ve specifically added cover, home insurance doesn’t cover accidental damage to your property or your belongings.
“So, if you accidentally knock over a tin of paint while redecorating or drill a hole through a water pipe while putting up shelves, you may not be covered unless you’ve bought the extra protection.
“As a rule, home insurance policies also don’t cover tradesmen or their work. So, before employing anyone, make sure they have their own insurance in place and check they’re qualified to carry out the work and are registered with a recognised governing body.”
Ryan continued, “If you’re having structural work done to your property – such as knocking through rooms, adding an extension, or other works which could increase the risk of damage to your property or make it less secure – you need to speak to your insurer to ensure you have adequate cover both during and after the work has been completed. Otherwise, you could find that you’re not covered or worse still you might invalidate your policy.”