Phil Thorn, home insurance spokesperson at Hiscox, says: “The decision to improve instead of move is a new normal for homeowners whose lifestyles are evolving. People are looking at ways to adapt their existing homes to meet their changing needs, whether that’s a growing family or the beginnings of a new home business.
“Many view home renovations as an easier or more economical alternative to moving, but our report highlights that these projects are often underestimated in both cost and scale.”
Staying and improving seems to make a lot of sense; it can save the costs of moving, it can enhance a home’s potential and it can add to the equity they hold in the property.
However, it’s vital homeowners fund it in the most affordable and realistic way – and make sure that any costly work they undertake adds genuine and lasting value.
So if you're looking to improve your home without the hassle and cost of moving, why not look to refurbish what you already have? More than likely if you have an old conservatory, you don't use it anymore as it's far too cold in the winter & too hot in summer...well now you have the option to refurbish this room to become a usable space within the home.
Text taken from The Independent, read the full article here