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Renters Spending 1k A Year On Home Improvements

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Nearly one in 10 Brits have felt compelled to spend between £901 and £1000 on home improvement in the last 12 months – despite RENTING their property.

A survey commissioned by Tapi Carpets & Floors, revealed that while people have been unable to leave their homes many have felt compelled to refurbish their living spaces – replacing carpets, bathrooms and improving outdoors spaces despite not owning the property.

Experts believe tenants could be adding as much as 10% in monetary value to their landlord’s property through home improvement. The research showed around 10% of renters will have paid out £101-200 or £201-300 on their homes, with 5% spending between £501-600 on major DIY purchases.

Of the 2,000 people surveyed, a quarter claimed to have participated in lockdown home improvement to make their homes more liveable through the pandemic.

One in 10 people have re floored or decorated their hallways to improve the appearance of their homes for doorstep visitors.

And it would appear the pandemic sparked a surge in the need for outside spaces. Nearly 40% of those surveyed by Tapi Carpets & Floors, believed they valued their garden space as much as their indoor space, with a third admitting when buying or renting a house they are happy to pay more for a nice garden.

One in five Brits said they would use the next couple of months ahead of the lockdown roadmap to ‘Spring clean’ and decorate their homes – with the same number looking to install “alfresco dining areas’ this summer.

Green fingered Brits are also planning special veg plots or greenhouses this Spring (25%), a similar number believe they will be tackling new paving and decking and more than one in 10 people are planning to install artificial grass.

Benjamin Heginbotham, director and lead designer at The Practical 
Planning Company, said: “Replacing tired carpets, putting down new flooring in bathrooms and the kitchen, and a fresh coat of paint - might not add thousands to a property's value, but it will certainly maximise the sale price. If a prospective buyer walks into a house and sees stained carpets or walls, they will immediately think, 'I'm going to need to replace those' and want to talk about knocking money off. 

"When it comes to outdoor spaces, a good-sized, well-maintained garden turf is going to maximise the value of a property. If you're looking to really add value, taking advantage of your outdoor space, this could result in a potential 10% increase on the house value." 

Spring is notoriously a time where Brits look to sell up and move, but it would appear shabby interiors lurking in our homes could leave properties stuck on the market.

When buying a new house, 50% of Brits said they would be put off by a bad smell or odour, with a quarter of people looking for stains on the walls. Just under a third (30%) said stained carpets and flooring would put them off purchasing or renting a house.

Johanna Constantinou from Tapi Carpets & Floors, said: “New flooring and carpets can transform the appearance of your home, indoors and outdoors, and it can be an affordable way to brighten up a space as you put your property on the market. 

“What we have seen is a surge over the last 12 months in home improvement trends, now people are less on-the-go they want more from their ‘at home’ experience. We are already seeing a spike in sales of artificial grass ahead of the lockdown roadmap. 

Johanna added: “This year as well as adding artificial grass to brighten up garden space and make it more functional, we are seeing people using carpet for oversized rugs creating the perfectly styled seating area outside.”

More than a quarter (28%) of people believed home improvement such as new carpets or new bathrooms could sway their home purchase, with many improving their homes to increase their chance of sale – 22% also said they would only buy a home fully decorated.

Source : Tapi Carpets & Floors

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25 March 2021

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Thank you for the excellent presentation that you gave at Woodbury Park on Thursday morning. It was very interesting and thought-provoking for our Retail members. The feedback has been excellent.

Martin Elliott. Chief Executive - Home Hardware.

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