UK homeowners are spending an average of £12,000 on renovations to adapt their current homes rather than face the costs of moving, new research reveals. A survey of 2,000 homeowners found that only 22% would choose to relocate, while 75% have considered renovating to maximize available space.
Space stretchers save thousands
More than a third (35%) of 'space stretchers' — those who have modified their homes to meet changing needs — have created multi-functional rooms like a guest room office. Loft conversions were undertaken by 21%, and 11% have dedicated areas for hobbies. The typical space stretcher has spent £11,844 but saved £22,106 compared with moving.
Energy-saving upgrades
Smart Energy GB, which commissioned the research, partnered with Laurence Llewelyn-Bowen to meet households who have creatively adapted their homes. Laurence said: "Having split my own home into three living spaces, I've learned a lot about squeezing every inch out of your space." He noted that multi-generational living changes energy use, and a smart meter helps track these shifts.
According to the survey, 40% of space stretchers have incorporated energy-saving measures, including smart meters (77%), loft insulation (68%), LED lighting (67%), and solar panels (28%). Victoria Bacon from Smart Energy GB said: "Adapting your home can avoid moving costs while adding value. Smart meters are available at no extra cost from energy suppliers."
