New research from Velux is suggesting that homeowners should seek professional help before carrying out renovations to their home in 2018, as the majority fail to properly consider the financial consequences.
According to Velux, 20% of homeowners are planning to carry out work to their home this year, with the majority (48%) aiming to simply paint and decorate, but with a high proportion also hoping to carry out major renovations such as new kitchens (39%), bathrooms (35%), extensions (20%) and new windows (17%).
On the plus side, this is good news for the window, door and conservatory industry – although Velux is claiming that a third of the homeowners it surveyed have not costed planned projects and 52% admit they do not know how they will pay for them. It adds that only 15% of people have spoken to an architect about their renovation plans and three quarters have not yet received a competitive building quote.
Grant Sneddon, product manager from Velux, said: “What our comprehensive research underlines is that an increasing number of homeowners are turning to renovations to improve their existing homes rather than move house.
“This is a great idea as upsizing to a bigger property isn’t easy in today’s climate and tackling a renovation can be a great way to create a unique home. Whatever the project, it’s absolutely crucial to bring in a good professional as early as possible.”
