Millions renovate homes rather than moving to avoid stress and cost

Millions of homeowners across Britain are opting to renovate rather than move, data seen by the Daily Mail shows.

Around 1.7million - roughly one in 15 - homes in England and Wales now carry 'official improvement indicators' after making substantial home improvements, such as installing a loft conversion.

Moving home is notoriously expensive and higher property prices, stamp duty and mortgage rates are making it an increasingly expensive and daunting prospect.

The figures were obtained by Churchill Home Insurance via a Freedom of Information request to the Valuation Office Agency in April.

On its website, the VOA said improvement indicators show that major structural changes have been made to a property.

'This includes things like adding an extension or carrying out large-scale renovation work,' it says. 'We don't consider redecorating to be a major change.'

If the VOA adds an improvement indicator to your home, it will be shown on the property information for your address when you search your postcode online.

The VOA cannot change the council tax band of a property that has been improved until it is sold, or there is a general revaluation of all domestic properties.

This helps to make sure homeowners are not penalised for improving or maintaining their home, according to the VOA.

Households embarking on a major home improvement project should inform their home insurance provider, check the Government's planning portal and consult their local planning authority before commencing work.

Some home improvements, such as small extensions, loft conversions, and garage conversions, may be allowed under permitted development, meaning that planning permission is not required if it is under a certain size and meets certain conditions.

However, permissions and rules can vary depending on location. Listed homes or those in conservation areas may be subject to different rules.

If you are not certain whether or not planning permission is required, you can apply for a lawful development certificate to seek confirmation that the project does not need planning permission.

Sarah Khan, head of Churchill Home Insurance, said: 'If you are embarking on a major home improvement project, it's important to let your home insurance provider know in case the works impact your insurance cover, particularly if your home will be unoccupied for extended periods.'

While renovating can be a good alternative to moving home for many people, it can also be extremely expensive.

Since the end of 2019, the average cost of construction materials has climbed by more than one third, according to government ONS data.

Finding a good builder to get the job done in a timely manner can also be difficult.

Churchill Home Insurance's research, which also included a survey of over 2,000 people, found that practical and emotional reasons discourage many homeowners from moving.

For 40 per cent, the sheer stress of moving including packing, dealing with property chains, and hosting viewings is a major deterrent.

For more than 30 per cent, a strong emotional connection to their home and a deep attachment to their community and neighbourhood also play significant roles in discouraging people seeking out a new home.

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Financial factors such as removal costs and legal fees, including conveyancing, ranked lower than an emotional connection to a home, Churchill Home Insurance, said.

Khan said: 'Moving house can be one of life's biggest decisions and upheavals, especially when your home holds years of memories.

'How many people have their children's height as they grow marked on a doorframe, a cherished reminder they can't pack with them?

'When you factor in the stress, fees, moving expenses, and leaving a neighbourhood and community you love, it's no wonder so many homeowners choose to improve, rather than move.'

Clive Holland, a broadcaster on Fix Radio, told the Daily Mail: 'Renovations give people the chance to adapt their current space to meet their needs without the stress and cost of moving, whether that's creating a home office, extending living space, or updating kitchens and bathrooms.

'The key to completing work efficiently and to a high standard is careful planning, hiring reputable tradespeople, and maintaining clear communication throughout the project.

'Even relatively small, well-managed updates can transform a home, improving both its functionality and value.'