People in the UK property market are increasingly turning to renovations in their home, as they look to improve the value of their stock, as well as giving themselves a higher quality of life in general when they live there.
This is according to a new report, which shows that nearly half of all UK property owners have carried out major renovation works on their residence within the past half decade. According to the GoCompare Home Insurance study, some 43 per cent of owners said they had carried out such work in the last five years.
Two old favourites lead the way when it comes to the most popular jobs to have done in the home. According to the data, bathrooms and kitchens, both of which are the most important rooms when it comes to selling a property to a buyer, come in top of the table, with some 39 per cent and 38 per cent of respondents respectively having had work carried out in these rooms in the last five years.
And it seems as though Brits are getting more on board with what they think a buyer might want down the line, with energy efficiency and comfort also performing well. The data shows that some 34 per cent had central heating installed or upgraded, while another 26 per cent said they had double glazing fitted in the last five years.
Other popular works for Brits to have carried out included adding an extension to their home (17 per cent), having solar panels fitted (12 per cent) and converting the attic into a new room (ten per cent).
GoCompare, however, warned people that as renovations on this scale become more popular, it's important that owners remember to inform their insurance company whenever they are carrying out work, with only 41 per cent saying they had done so on their last job.
"While you don’t need to inform your insurer about routine decorating or maintenance, you should inform your provider if you’re planning on carrying out any major building or renovation work, otherwise you could risk invalidating your policy," said Matt Sanders, home insurance spokesperson for GoCompare.