Brits Choosing to Do-Up and Stay Put....
07 September 2007
Many homeowners are now choosing to do up and extend their property rather than move house.
According to new figures released today by Standard Life Bank, just one in ten homeowners aged between 30 and 40-years-old says they have plans to move home.
What's more, many say they would rather renovate their home than have to move house completely - with the cost of moving putting as many as 75 per cent off.
"With just one in ten homeowners in their 30s and 40s saying they plan to move house soon, the property ladder as we know it is set for a shake up," commented Ashley Ramsay, trends expert at Standard Life Bank.
"Savvy homeowners appreciate that their property is a valuable asset and investing time, effort and money could be worthwhile.
"Having chosen where they want to live and settled into neighbourhoods, they are loathe to start over again," Mr Ramsay added.
One in ten renovators have added extra rooms to their property, with loft conversions, extensions, extra bathrooms or bedrooms adding space and value to their home.
