73% of homeowners in the UK have made improvements to their properties in the last five years, underlining how increasing numbers of homeowners are choosing to improve rather than move.
According to NAEA Propertymark, homeowners have spent approximately £41 billion doing up their properties over the last five years.
The most popular update homeowners choose to give their properties is redecorating, while landscape gardening, the installation of new flooring, and fitting a new bathroom are also popular changes.
NAEA Propertymark’s Chief Executive, Mark Hayward, said: “There are many reasons why homeowners are improving their property – whether it’s because they have realised the value and sale potential it can add, or they cannot afford to move and are looking to make the most of what they’ve already got.”
Your house will almost certainly be more attractive to buyers with some general sprucing up and cleaning, and improvements that create a sense of space, privacy and give a great first impression will increase saleability”, Hayward added.
Most homeowners who have carried out home improvements did so to make their property more to their liking, while 25% of homeowners carried out improvements to make their property more saleable and to add value.
There are multiple options open to homeowners if they want to improve their properties with a view to selling them, including updating the kitchen, making the property more energy efficient, and depersonalising the interiors.
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