Homeowners look to make improvements due to lockdown

13 August 2020 | General

After three months of the lockdown period, seven in 10 (69%) homeowners want to make changes to improve their homes, and a further one in 12 (7%) are thinking of selling and moving to a better property, research rom Aldermore has found.

Nearly two in five (37%) UK homeowners say they value their homes more now, but within this group almost two thirds (64%) would still like to make improvements.

Redecorating rooms, improving gardens and terraces, and renovating bathrooms/kitchens are top of the list of post-lockdown home improvement projects

Jon Cooper, head of mortgage distribution, Aldermore said: “The lockdown period has redefined what our homes need to be so it is not surprising homeowners are focusing their minds on what changes are required to enhance their living spaces.

“Among younger people perhaps in their first home and in London where space can be tight, the lockdown period has clearly created challenges for people in finding the right balance in their homes as a place to work, exercise, raise children, and socialise.

“As we ease out of lockdown, now is a good time to turn home plans into action, and for those planning major changes, such as moving home or seeking a remortgage, it is important to seek advice on your financial options. The mortgage market is open for business and here to assist people in making their home everything it needs to be.”

This post has originally been featured in Property Wire.