| More homeowners are choosing to invest in their existing properties rather than move house, with recent research finding that 26% are now more likely to renovate than relocate due to the current financial climate. The trend is particularly pronounced among younger homeowners, with 53% of those aged 18-34 saying they would rather improve their current home than move elsewhere. The same study also found that more than a quarter (27%) of homeowners are planning to invest in home improvements this year. Research also found demand for kitchen fitting projects increased by 19%, whilst bathroom fitting jobs rose by 8%. The figures suggest many people are taking a long-term view of their properties, opting to upgrade existing homes rather than face the cost and disruption of moving. However, experts warn that many homeowners risk undermining those investments by focusing too heavily on upfront costs, with seemingly cheaper materials and contractors often resulting in higher maintenance, repair and replacement costs over time. According to Ellie Parker, natural stone expert at Stoneworld, many homeowners are actively choosing to improve their existing properties to boost enjoyment, future-proof their homes and add long-term value. “Whether someone owns one property or several, the objective is often the same. They want to make improvements that enhance the property and retain their value over the long term. “Many homeowners are investing in projects such as garden transformations, patios, outdoor entertaining spaces, landscaping schemes, flooring upgrades, kitchens and bathrooms. “What we’re seeing is homeowners becoming much more selective about where they invest their money. “Rather than making quick decisions based purely on price, more people are taking the time to think about durability, maintenance requirements and long-term performance.” The trend is particularly noticeable in larger renovation projects, landscaping schemes and outdoor living spaces, where decisions around materials, design and workmanship can have a significant impact on both appearance and long-term performance. According to Ellie, projects that provide the best long-term outcomes are often those where homeowners spend more time planning and researching before work begins. “One of the biggest mistakes people make is focusing too heavily on the initial cost of a project without thinking about what happens five or ten years down the line. “Materials that appear cheaper at the point of purchase can sometimes require more maintenance, deteriorate faster or need replacing much sooner than higher-quality alternatives. What looks like a saving today can sometimes end up costing considerably more over the lifetime of a project. “Similarly, homeowners can sometimes rush into appointing a contractor without carrying out enough research. A good contractor should be able to demonstrate previous work, explain their process clearly and provide confidence that the project is being delivered correctly from the outset.” With more homeowners investing in renovation projects, Ellie says careful planning can often be the difference between a project that adds long-term value and one that creates avoidable expense. Think beyond the initial price tag When comparing products, materials or quotes, it’s important to consider how those choices will perform over time. “The cheapest option isn’t always the most cost-effective option. Longevity, durability and future maintenance should all form part of the decision-making process.” Research contractors carefully Before committing to any project, homeowners should review previous work, check references and ensure contractors have relevant experience. “A little extra research at the beginning of a project can help avoid some very expensive mistakes later.” Consider future maintenance requirements Different materials require different levels of upkeep. “It’s easy to focus on how something looks when it’s first installed, but homeowners should also think about how it will look and perform several years down the line.” Prioritise timeless improvements Projects that complement the wider property are more likely to retain their appeal and value. “Good design tends to be long-lasting. Focusing on quality and practicality rather than short-term trends often produces the best long-term results.” Don’t rush the planning process “The more consideration given to layouts, functionality, drainage, access and material choices at the beginning of a project, the smoother the process tends to be.” Ellie added: “The most successful projects are usually the ones where people take a long-term view. Quality materials, good workmanship and careful planning can often deliver better value than simply chasing the lowest price.” |
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