New homeowners spend over £7,500 to ‘make a house a home’


Friday, April 13, 2012

The long Easter weekend is often viewed as the ideal opportunity for DIY attempts, spring cleaning and decorating. It is estimated that a third of new homeowners will join the screwdriver and paintbrush-wielding masses this year.

The latest YouGov survey conducted by Countrywide, the UK's largest estate agency and property services Group, has uncovered that 34% of new homeowners[1] spend more than £7,500 on home improvements and refurbishments in the first two years of moving in.

Robert Scarff, Managing Director, Estate Agency Division at Countrywide, comments:

"Buyers often factor in renovating and re-decorating costs into their home-moving budget, with many gaining quotes on large or urgent projects like newkitchens or bathrooms before putting in an offer for the property. Therefore, it's unsurprising that a third of new homeowners spend so much towards the creation of their ideal home in the first few months.

"Sellers are often urged to clean and 'neutralise' their properties before conducting viewings as a 'blank canvas' can help buyers to visualise how their furniture, belongings and personal style can be added to the property. In essence, it helps buyers to imagine how your property could become their home.

"Additionally, sellers should consider the minor improvements they can make to their properties to attract potential buyers. Things like wonky shelves, loose door handles and missing tiles are often overlooked by sellers but can be off-putting.These are often cheap, quick and easy to fix and can improve the overall 'look and feel' of the house, so we estimate that new owners won't be the only ones making home improvements this Easter weekend."

[1] UK adults who have purchased a home in the last two years.


About the survey:

All figures, unless otherwise stated, are from YouGov Plc.  Total sample size was 6215 adults, of which 327 had bought a home in the last two years. Fieldwork was undertaken 13th - 19th March 2012.  The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).


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