Lockdown 2020 has certainly turned many of us into DIY experts, but a new survey from Confused.com has revealed some surprising findings and statistics about how much we are spending on home improvements, what is motivating us to do them, and what we are finding most difficult about them.
The kitchen is the most popular room to renovate, with 96% of those questioned having done so, spending £5219 on average. 73% have spent money on their conservatory and 94% on the bathroom. Indeed in the UK we are spending an average of £34,000 renovating our home and 18% have done so during the COVID-19 pandemic.
Looking at other specific renovation jobs, 60% have upgraded flooring and 53% have installed new kitchen worktops or new windows. But in terms of desirability, we all admit to sometimes doing one room up when really we’d ideally like to do another one. Cost is usually the barrier in front of that, and the kitchen again comes out on top for the one room most homeowners want to renovate. 27% of UK adults claim the kitchen is the room they would most like to renovate, followed by the bathroom (14%) and then the living room (11%).
Adding value to our homes
Adding, converting or extending a room is very popular in the home improvement game, because it usually adds value to the property. 20% of us claim to have undertaken a renovation for this reason, and experts do suggest that a three-bed detached property of three storeys would have 20% less value than a four-bed version. So loft or cellar conversions are very popular, particularly with an en-suite included.
Further fascinating findings from the survey were that kitchens take the longest amount of time to renovate (up to four months), along with back gardens and conservatories. Whilst the quickest transformations can be carried out on living rooms, bedrooms and bathrooms.
A surprising finding was that people in the north of the UK are spending the most on home renovations. Three quarters of people in the UK have renovated up to 11 key rooms in the home, and in York this amounts to a total outlay of £49,056 on average. In York the average outlay on a kitchen renovation was £6167. In comparison, the average total outlay in London was only £33,298 – the 8th highest in the UK – perhaps because property prices alone remain so high in the capital compared to the north, that there is precious little left for renovations.
Home improvements with Period Mouldings
An interesting aside, however, is that 46% of respondents in London admitted to going over budget with DIY projects, on average by £12,533. This compares to people in York overspending by only £5601.
At Period Mouldings we understand the importance of home renovations such as adding skirting, architrave, ceiling mouldings and doors, but we also understand the occasional barriers to carrying out home improvements. The final finding in the research is that 51% reported that living in the property whilst renovations were taking place was the biggest challenge, whilst 41% said it was finding the right tradesman, and 30% said it was cost. And at least with Period Mouldings, you know that our renovation projects involve minimal everyday disruption, are affordable and value-for-money and in Period Mouldings, you certainly have a UK name you can trust.
