Then again, home improvements help you enjoy more utility and benefits, so all homeowners should consider home improvements as a sensible strategy.
In a study undertaken by the National Association of Estate Agents, the NAEA, figures suggest home improvements matter to homeowners. In the past five years, more than £48 billion has been spent on home improvements in the United Kingdom. This sum of money equates to around £8,000 for every property owner in the country, so it is fair to say many people are keen to improve their house.
The leading options for homeowners to make changes at their home include redecorating, bathroom refits, landscaping and installing new flooring.
People continually want to move up
Even though many people struggle to step on to the property ladder, it is not as though people stop for too long when they make their way on to the ladder. Most buyers want to move up, but of course, the cost of buying property sometimes thwarts people’s ability to upgrade the property. Therefore, making the most of the home you own as opposed to looking for a new home is a sensible step for most homeowners.
However, the study suggests that improving the appearance of a home is a more significant factor in improvement work than looking to move. 7% of respondents said they improved their home to facilitate a sale while 55% of property owners said they only wanted to make their home more attractive. Around 20% of property owners admitted they purchased a home that would require a lot of work, although this may relate to the financial saving of buying a home in a more miserable condition.
People want to enjoy their home for as long as possible
Mark Hayward is the Chief Executive of the NAEA, and he released a statement, saying; “Home owners are renovating and improving their properties for various reasons. Our needs are constantly changing and by investing money into our homes, we can make the most of what we’ve got. Alternatively, improvements can add value and saleability to a home that’s going onto the market.”
Anyone looking to make improvements in selling their home needs to consider what buyers are looking for. Your tastes may not appeal to buyers, so try to create a neutral look or at least offer something that appeals to as many buyers as possible. Mark Hayward continued by saying; “If you’re making improvements to add value to your home, it’s important to not over-personalise the décor so it appeals to future buyers; they need to be able to see themselves living in your home.”
Anyone looking for assistance in selling their home, or who needs guidance on how to best care for their home, should contact Austin Property Services. We are pleased to say we have helped many homeowners sell their house, and we look forward to assisting you.