One in two UK homeowners have property improvements planned for 2015, according to a recent poll.
Getting a new kitchen is the second most popular improvement on the cards, as 8.3 per cent of homeowners think 2015 is the year they’re going to revamp this room, the Ocean Finance research suggests.
A quarter of homeowners said simply that they have decorating plans for 2015, while seven per cent are likely to get work done on the bathroom.
Meanwhile, 3.9 per cent have stated plans for an extension and 2.6 per cent wish to convert the cellar, loft or garage in 2015.
It was found that 39 per cent of those with these examples of space-boosting measures on the cards wish to make room for an expanding family.
And 14 per cent have older kids who are coming back to live at home, or are planning to accommodate older relatives, and that’s why they’re making a space-boosting move.
Other reasons included a need for extra storage (18 per cent), a preference for big, open rooms (ten per cent), considering expansion a cheaper option compared to moving house (8.8 per cent) and wanting to boost property value (8.8 per cent).
“Despite the recent Stamp Duty changes, moving house is expensive – with legal and estate agency fees and moving costs to meet. So it’s no surprise that so many homeowners are looking to improve and in some cases extend their existing property,” commented Ocean spokesperson Ian Williams.
“Creating more space is clearly a popular option, with 12 per cent of home improvers saying this is their plan. It’s interesting to see that a leading motivation for this is family; whether that’s more children coming along or grown-up kids coming back. It goes to show that many families are willing to put in the work and the investment if it ensures their home grows with them.”
People sometimes want to place a new kitchen into a planned extension space, and The Kitchen Link’s Nick Symons recently gave some advice on this area in a great blog piece on kitchen planning.