A renovation obsessed nation: Two thirds of homebuyers renovate a home within the first two years of its purchase
Those in older homes tend to be more in a hurry to make home improvements with 71 per cent rushing to make changes within the first two years of purchasing
Cheaper improvements like painting/decorating and garden revamps are the most popular costing an average of £2,495 and £3,538 respectively
A fifth (21 per cent) of respondents stated that they purchased an older home due to the lack of availability of new homes in their preferred area
Over half of respondents (51 per cent) are unaware that housebuilders and developers must comply with the New Homes Quality code while 58 per cent are also unaware that all newly built homes come with a two-year snagging guarantee
Under embargo until 00.01 Friday 7th February 2025, London: Data from Zoopla, one of the UK’s leading property websites, has revealed that a massive two thirds (64 per cent) of British homebuyers who purchased a home within the last ten years renovated their home within the first two years of its purchase.
Older homes drive urgency for renovations
Those who purchased an older home tend to be more in a hurry to make home improvements, with 71 per cent rushing to make changes in the first two years of purchasing, compared to 41 per cent of those who bought a home that was built in the last ten years.
Whilst almost half (45 per cent) of those who purchased a property built over ten years ago prefer older properties for their charm, this type of property is clearly a driver for renovations. Nine out of ten (88 per cent) of those who bought a home in the last ten years carried out renovations, compared to the 69 per cent who bought a newly built property.
A fifth (21 per cent) of respondents stated that they purchased an older home due to the lack of availability of new homes in their preferred area, suggesting that the government's target to build 1.5 million new homes in England over the next five years will be most welcome.
Finance conscious Brits prioritise cosmetic improvements
Purchasing a home is the single biggest purchase many will make in their lives however despite this, Brits often struggle to find the ‘perfect’ home, with 44 per cent renovating within the first year of moving in.
Cheaper improvements like painting/decorating and garden revamps are the most popular amongst those who purchased a home in the last 10 years, with those who carried out these improvements spending an average of £2,495 and £3,538 respectively.
Table 1: Popular home renovations and their average costs
Type of renovation | Percentage of homeowners who carried out renovations in the last year | Average cost to those who carried out the renovation |
Painting/ decorating | 57% | £2,495 |
Garden revamp | 34% | £3,538 |
New bathroom | 32% | £7,009 |
New kitchen | 30% | £9,861 |
New boiler | 27% | £3,663 |
Updating electrics | 22% | £3,347 |
Updating plumbing | 14% | £5,872 |
Knocking down/moving interior walls | 12% | £7,988 |
Extension | 11% | £27,515 |
Removing mould | 10% | £4,221 |
Loft renovation | 8% | £7,670 |
Repairing structural damage | 7% | £8,810 |
Source: Zoopla
A new boiler was the only practical improvement with a cost of under £5,000 that featured in the top five most popular enhancements. 36 per cent of those who purchased an older home in the last ten years had to replace the boiler compared to the 13 per cent of those who purchased a newer home.
Buyers who have made improvements spent an average of £20,760 on improvements with this ranging from £18,572 for those who purchase a newly built property to £21,485 for those who purchased a home over ten years old.
Outdated features (47 per cent) are a key driver for renovations, while other reasons include improving energy efficiency (26 per cent), increasing the resale value (22 per cent) and fixing structural defects (15 per cent).
Clear gap in understanding around new build quality standards
With 34 per cent of respondents stating that they purchased an older home as they were worried about the quality of newer homes, it was unsurprising that the survey also highlighted a clear gap in consumer understanding when it comes to the New Homes Quality Code, a mandatory set of requirements that came into effect in December 2021 to improve the quality of new homes and customer service provided by developers.
Half of respondents (51 per cent) were unaware that housebuilders and developers must register with the board, while another 58 per cent were unaware that all newly built homes come with a two-year snagging guarantee.
Commenting on the data, Daniel Copley, Consumer Expert at Zoopla said: “It’s clear that an Englishman's home is still very much his castle with buyers demonstrating a clear demand to renovate and add their personal touch to their home despite soaring material and building costs.
“The most important thing to consider when buying either an older property or a newly built home is your budget. Older homes often require more maintenance compared to newer homes and whilst newer homes might seem expensive, the building standards they are built to mean you might end up saving more in the long run.”
Notes to editors
Research carried out by Opinimum between 23rd January and 28th January 2025, amongst 1,000 UK Adults (18+) who bought their property in the last 10 years.