Home owners in Scotland accelerate home improvement plans as Brexit fails to dampen confidence
SIX in 10 (60 per cent) homeowners in Scotland are planning to carry out home improvements with an average spend of £4,160.15 over the next six months – contradicting recent reports of weakened consumer confidence, according to new research by leading roof window manufacturer VELUX®.
The VELUX® 2017 Home Improvement survey, released to coincide with Home Improvement Month in April, revealed that 14 per cent of home owners in Scotland carry out improvements once every two to five months, with a further 24 per cent doing it every six to 11 months.
Contrary to many recent reports suggesting a weakening of consumer confidence in the shadow of Brexit, Scottish home improvers are willing to invest to create their dream home.
Almost two-fifths of home improvers in Scotland ( 39 per cent) are planning to spend up to £5,000, with 12 per cent expecting to spend up to £10,000 on their proposed projects.
According to the findings, the rationale for home improvement can be more emotional than rational. A quarter of home owners (26 per cent) who are planning to improve their property over the next six months are doing so because they love their home and the area they live in and don’t want to move. This is closely followed by 25 per cent of homeowners who are doing it do add value to their home.
This ‘ home sweet home’ philosophy is also front of mind for almost a third of home improvers (29 per cent), whose main reason for home improvement is one of self-satisfaction, simply to make them feel good about themselves. As a key reason for home improvement, it is ahead of adding value. And 10 per cent of home improvers are looking to bring more daylight into the house.
The main focus of home improvement plans is cosmetic, with 67 per cent planning to paint and decorate. However, almost a third (27 per cent) are planning a new kitchen or bathroom, followed by flooring and lighting (21 per cent) and replacement windows (14 per cent).
Adding more space through a garage conversion was cited by five per cent of homeowners and a further four per cent said they’d add more space through a loft conversion.
Grant Sneddon, product manager from VELUX®, said: ‘ Despite widespread reports of weakened consumer and business confidence, our comprehensive research underlines a clear intention from homeowners in Scotland to continue investing in their homes.
‘ What’s perhaps more interesting is that homeowners are spending out of a personal preference of creating their dream homes, just as much as those who are spending to invest in the future value of their property.
‘ Whether it’s by creating an extra room, converting a loft, building an extension or replacing a kitchen or bathroom, it appears that home owners up and down the country are realising the potential of their homes and choosing to improve or to add to the space they have, instead of moving to a different property.’
UK-based interior design blogger and stylist, Hege Morris of Hege in France, said: ‘ The internet has helped to inspire millions of people to realise the potential of their house and have the courage to create their own dream homes.
‘Many homeowners now look beyond the functional use of their home to create spaces which mean more to them. For some, this means creating a personal sanctuary where they can escape from the rigours of everyday life, manage a homerun business or pursue a hobby.
‘For others, particularly those with families, we’re seeing the continued growth of large, light and bright, open living spaces, where they can spend more quality time together.’