41% Of Homeowners Have Plans To Extend Or Renovate Property
More than two in five homeowners plan to extend or renovate their home in the wake of the pandemic, This is Money reports. A study by the Mortgage Advice Bureau found that the popular schemes were converting garages, and creating a home office or gym, as the experience of working and schooling from home has led to a demand for extra space.
The survey revealed that of those planning to make changes, one in four said they would renovate, one in 10 said they would extend, and 6% intend to do both. 24% wanted to create an entirely new room, such as a home office or gym. 23% planned to renovate the garage, 16% wanted to add an outbuilding, and one in five planned an extra bed or bathroom.
The article points out that households have saved £143.5bn during the lockdowns, as there were fewer opportunities to spend disposable income. Up to a quarter of homeowners are now looking to invest their savings in home improvements.
For property owners looking to carry out work themselves, the advice is to only take on what you are capable of, and consult professionals for the rest. Novices could start by redecorating a bedroom, or sanding and varnishing a floor.
DIY expert Jo Behari says: 'These are much smaller jobs for you to cut your teeth on from which you can build up your confidence and skills to potentially tackle bigger projects later on down the line. Speak to planning officers, builders, architects or anybody you know that works in the building industry.’
When it comes to renovating your home with a view to adding resale value, the experts advise concentrating on the overall presentation of the property first. They suggest that obtaining planning permission to let future buyers choose their own style of extension may be the wisest path to take.
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