Homeowners look to make improvements due to lockdown

Nearly 70% of homeowners have made positive changes to improve their homes during lockdown, with a further 7% thinking about downsizing or upgrading their home, new research has suggested.

Nearly two in five (37%) UK homeowners say they value their homes more now, but within this group almost two thirds (64%) would still like to make improvements.

Redecorating rooms, improving gardens and terraces, and renovating bathrooms/kitchens are top of the list of post-lockdown home improvement projects

Jon Cooper, head of mortgage distribution, Aldermore said: “The lockdown period has redefined what our homes need to be so it is not surprising homeowners are focusing their minds on what changes are required to enhance their living spaces.

“Among younger people perhaps in their first home and in London where space can be tight, the lockdown period has clearly created challenges for people in finding the right balance in their homes as a place to work, exercise, raise children, and socialise.

“As we ease out of lockdown, now is a good time to turn home plans into action, and for those planning major changes, such as moving home or seeking a remortgage, it is important to seek advice on your financial options. The mortgage market is open for business and here to assist people in making their home everything it needs to be.”