Quantcast
Menu

News

14% of homeowners planning major renovation

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
08/04/2016

A significant number of homeowners are improving rather than moving, with new kitchens top of the wishlist

New kitchens, extensions and bathrooms top the home improvement wish-list for 14% of homeowners, who are currently considering making major changes to their home.

New research commissioned by Gocompare.com Money found that 5% of homeowners have decided to extend their current home rather than move house. Fitting a new kitchen, building an extension, installing a new bathroom, and a garden make-over top homeowners’ renovation wish-lists.

The top home improvements homeowners are currently craving include:

1. A new kitchen (36%)

2. An extension (34%)

3. A new bathroom (33%)

4. A garden make-over (24%)

5. Convert the attic into an extra room (19%)

6. Install a new boiler or central heating system (17%)

7. Knock through rooms to create an open plan space (16%)

8. Fit double glazing (10%)

9. Add an extra bedroom (10%)

10. Install solar panels (7%)

Gocompare.com’s money spokesperson, Matt Sanders, said: “Whether it’s to increase your living space to accommodate your growing family, or to reduce your household bills by improving your home’s energy efficiency, home improvements are a great way of making your home a nicer place to live and can add value to your property.

“But, while it can be cheaper to improve rather than move, major renovation projects can still run into tens of thousands of pounds. So, unless they have built-up substantial savings, most homeowners will need to consider either taking out a loan or re-mortgaging their home to fund their projects.”