Improve or Move - UK Home Renovation Study 2019
In an often unpredictable housing market, a reported 15% of homeowners are opting to improve their property as opposed to upping sticks. As well as creating nicer surroundings, refurbishing different areas of a home can add significant value, but what is the true return on investment?
Self storage experts Safestore have taken a look at the landscape of homeownership to find the most popular areas of the home people improve, and the number of homes in the UK that offer these amenities
Areas of the Home
We’ve looked at surveys and data in relation to the parts of the home people renovate to discover the actual return-on-investment
. This figure was found by comparing the estimated value increase a renovation can provide with the typical cost someone is expected to pay for the type of improvement.
Popular Renovations by City
Our study has also researched how popular these different home features are in different parts of the UK based on property listing sites. We’ve also studied search data to suggest some possible trends across the country.
Room for One More?
If you own a property that has the potential to hold an additional bedroom, then it might be of financial interest to renovate. We looked at the average value of 1-4 bedroom homes in 9 major UK cities to find the true value in upgrading:
listings were used to determine price metrics and the features of the home by region. The remaining data was taken from existing surveys and studies.
Irrespective of whether you decide to move or to renovate, if you find yourself in need of storage do get in touch as we have stores nationwide and are bound have one near you.