Moving into a new place can be a lot of work, especially if you need to make serious changes upon moving in. Whether it’s making essential changes such as resolving damp issues or touching up unattractive paint jobs (or even installing a whole new kitchen or bathroom), it’s important to account for some of the extra costs that can crop up even after buying a home. After all – we found that one in five people wouldn’t have moved into their new home if they knew how much it cost to renovate it!
There’s no doubt that it’s becoming more difficult to buy a home than ever before, with Google searches for ‘can I afford to buy a new house’ up by +400% in the past 12 months. With this in mind, we wanted to find out the top renovations Brits undertake when they move into a new home, and how much they’re spending on them. Our survey of the British public turned up some interesting results!
So, what are the most common alterations made by Brits once they move home? According to our survey, the top five most common renovations, are:
We also found that 20% of people added SMART features to their home – this includes automated lights, smart hubs like Google Home and Amazon Alexa.
A staggering 61% of Brits have spent money on essential changes such as resolving damp, installing double glazing and insulation, and installing better heating or electrical systems. 21% had to upgrade their heating and or/electrical systems after moving in, and more than 1 in 10 homes had to have damp issues resolved.
For first-time buyers and new homeowners, it’s well worth having several inspections completed before and after purchasing to make sure you don’t have to pay too much to fix genuine issues with your new home!
We found that the majority of Brits (17.6%) spend between £500-£2500 on renovating their home – and with the average cost of a home in the UK now standing at £274,000, this is already a considerable amount of money to add to with renovations!
Over 30% of people we surveyed had spent over £10,000 on changes to their new place, and 6% had spent over £25,000. What’s more, 2% have had someone else pay for all of their renovation work – if only we could all be so lucky!
If you’re feeling a bit intimidated at the number of people who had to spend considerable amounts of money on their home renovations, don’t worry. Most homes are in a good condition, and we even have some simple ways you can avoid paying extra costs when renovating your home.
If you’ve recently bought a new home and are trying to think of ways to keep your costs down, we’ve got some great tips to keep your wallet in good shape! Charlie Tuck, Trade Counter Manager at ADA Fastfix, shares their expert tips on how to reduce the spend when it comes to renovating your new home:
We hope these insights and tips will help all new homeowners undergo a smooth and efficient renovation with as little stress and expense as possible. If you’d like some help with some of your major flooring decisions, or if you just want some extra advice, come down to your local Tapi store and speak to one of our amazing Floorologists today. Alternatively, you can check out our Ideas Hub to find some design inspiration and DIY advice too.