Many homes across the UK are planning a makeover – as nearly half (44%) of households are planning to get stuck into DIY projects, according to a recent survey by Zopa, a new digital bank.
Those sprucing up their property estimate they will spend £2,174 typically, which is more than double the average spend in the first half of 2020 at £995, the survey found.
Home improvement plans
The lockdown has been a major catalyst for people’s desire to make a change.
A quarter (24%) of households say they are bored with their surroundings, and a fifth (20%) feel their garden has become more important, according to the survey of more than 2,000 people across the UK.
The uncertain times play a part too, with more than one in 10 (13%) saying they want to make changes in case there is another major lockdown yet to come.
Overhauls will be made both outside and in. The most common improvements planned are gardening, repainting walls, and updating soft furnishings.
Has lockdown changed what you want from a home? Our survey results reveal that 27% of under 65s now see a home working space as more of a priority. Find out more: https://t.co/AqucG3zr5b pic.twitter.com/8pCG0iD3EX
— Zoopla (@Zoopla) July 3, 2020
Home entertainment is also a priority, with 12% planning to entertain in their gardens more. Some people have even built bars in their homes or gardens during lockdown, spending £1,500 on average.
Meanwhile, 12% of people plan to work from home more in future, so want to improve their working conditions.
The top additions for making home workspaces more pleasant are new plants, new seating, a new desk and better broadband, according to the survey carried out last summer.
Clare Gambardella, Zopa’s chief customer officer, says: “Throughout the last few months, many of us have spent an increased amount of time in our homes and have subsequently made home improvement plans.
“Many believe lockdown will have an impact on our socialising and working habits for some time to come, so it’s no surprise that people plan to improve their homes,” Gambardella adds.
The change in household spending habits is helping to fund some home improvements.
👨💻Office workers: how likely do you think you are to work from home for at least part of the week after the pandemic?
— Which? Money (@WhichMoney) July 29, 2020
While the majority of improvements will be covered by general savings (58%), over a quarter (27%) of those sprucing up their homes are using money saved from having fewer outgoings during lockdown.
Nearly a fifth (18%) have reallocated savings, which were originally meant for holidays, weddings and birthdays, towards home projects.
These are the most common home improvements planned, according to Zopa…
1. Gardening
2. Repainting walls
3. Updating soft furnishings
4. Enhancing outside areas
5. New furniture
Also among the top 10 home improvements planned were increasing and organising storage space, new flooring, replacing appliances, upgrading home workspaces and bathroom renovations.
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