As home owners in the UK, we now spend an average of £2,000 each on improving our homes over a five year period. That’s around £40 billion as a nation!
So why are we spending so much on top of the price of buying our homes?
Well it goes without saying that we’re homemakers here in the UK, so it’s hardly surprising that 61% of owners carried out improvements to make their property a better environment to live in. Another 25% of owners saw the cost of improvements as an investment that would add value if they ever decided to brave the property market.
What areas of our properties are we trying to improve?
We’re spending on all areas – with redecorating, garden landscaping and new flooring at the top of the list. Investing in a new bathroom came in as a close second, with 31% of owners spending an average of £2,719 on their top tiles and power shower.
27% of owners are willing to spend a little more on the kitchen, since it is the ‘heart’ of our homes – with new worktops and fridges coming in at an average cost of £5,016. Replacing windows is another costly improvement for those of us who have landed a period property or need that extra layer of glazing for the chilly winter months, with an average spend of £2,543 by 25% of owners.
If you are making improvements to add value to your home in preparation for selling then it’s certainly worthwhile. Creating a great first impression with buyers will help you shift it off the market quickly, so you can move onto investing in your next property!
Looking at this shopping list, there’s definitely room for us to make some savings. But as with any spend, cutting corners means that you will compromise on quality and your home is one area where we dread running into problems – they can be costly and extremely disruptive. Is installing your own bath with the help of a YouTube video really worth it flooding the bedroom in a few years?
So how can we ensure that our properties are in it for the long haul?
Our answer will always be the same – find the most trusted trade and service providers you can. We advise that you do your research for every one of them – from your mortgage adviser to your plumber. Having the right people at hand who you also trust completely will make your life a whole lot easier when you do need to sell your home or replace your garage door, and it’s amazing how often we need these people when we least expect it! Through a lot of research, we’ve found that these trusted providers are not easy to come by. We’re sure that you’ve heard many a horror story yourself…
So how do you find a service provider local to you who you can really trust?
Well it’s not a fast process – trawling through online reviews and cross-checking them with your network, considering if any of the feedback might be biased… But luckily we’ve got this all covered for you. Our soon to launch property app is completely free to use and it’s packed full of recommendations. But don’t worry, you don’t need to read through a long list – there are only three trusted service providers to choose from in each category, and not just any three – these are the top providers in your area. How do we know? Well we’ve talked personally to each and every one to make sure that they are up standard.
So what are you waiting for? None of us have time to waste when it comes to saving money!
UcaDO, the free peer-to-peer app that’s launching soon, will do more than help you sell, let, buy or rent your next property with no fees or commission; it will also keep you connected with the top Trusted Service Providers (TSP’s) in your area, helping you with everything from mortgage advice to plumbing. Pre-register now at ucado.co.uk