If there is something you don’t like about your home, there are 2 options: move or improve. We have created an infographic which explores the pros and cons of both options. Which would you do?
This is an important question for many people to consider and our partners Slater & Gordon have found out some great information which looks at the pros and cons of moving versus improving and some helpful facts about which type of people opt for which choice. There are many factors that need to be taken into consideration when it comes down to the choice between moving or improving and we are going to take a look into some of the information that has come to light.
Moving
Moving home is a big effort but one that is sometimes necessary depending on our individual requirements and the potential restrictions of our current homes. Amazingly, 61% of people would prefer to undertake major renovations on their home instead of moving to a new place, it seems that the upheaval of major building works is not considered quite as large as the upheaval of moving home altogether.
It seems that location is all important when it comes to buying a home with 35% of people deciding that this was the most important feature of a home and 56% of people would be willing to purchase a place that had the potential for greatness after a little bit of work. With 45% of Brits having bought between one and three homes in the past, it seems that as a nation, we really would be more happy to renovate our existing home rather than moving altogether.
Improving
Some highly interesting facts came from the study, chief among them is that as a nation, we spend over £30 billion on home improvements, a whopping £43 million every single week. Home improvements have two-fold benefits, the first is that they can alter your home to accommodate you better or make you feel more comfortable and the second is that it can add real value to your property. Extra bedrooms for example are a popular way of adding both value to your home and adding more space to the property and it is estimated that double bedroom will add around 10% extra to your property value and a single bedroom adding around 5%.
Staying safe is vitally important when undertaking home improvement tasks and a worryingly high 220,000 people end up in hospital each year as a result of DIY related injuries. In order to stay safe if you are undertaking a home improvement task then you need to ensure that you know exactly what you are doing and that you have all of the required safety equipment with you before starting. The most important safety equipment to protect yourself will include sturdy work boots, gloves, eye and ear protection. If you are in any doubt then consult a professional.
It seems then, that Brits much prefer making a smart selection when it comes to buying a property and then re-modeling it to suit their tastes over buying a new home when they need something bigger or better. What would you prefer? Let us know ini the comments below whether you are a mover, or an improver.