The UK housing market has suffered significantly since the beginning of the global economic crisis. The recession has left millions of people unable to move, with a lack of available funds and low buyer confidence.
Homeowners have seen the value of their properties take a dive over the last five years and as a result many have turned to home improvements to boost the value of their property. New figures from Everest Home Improvements show that home expansions are now a more popular choice than moving.
The study found that 53% of people would rather add a conservatory to their current home than move to a different property altogether. Just 46% of those polled would rather move home.
There are a number of different factors to consider when moving home, such as location, budget, number of bedrooms and age of the property. Having a conservatory appears to be a major factor as the majority of homeowners would rather stay where they are and have one built than move to another property entirely.
The research found conservatories were a popular option for all age demographics, with even those in their later years viewing them as an attractive addition to their home. 54% of over 55-year olds said they would prefer to add a conservatory rather than move home with 35-54 year olds returning a similar figure of 52%.
The research also found that a staggering 63% of those polled said a conservatory was an extension to property space. Of those who view a conservatory as additional space, some 66% were male and 60% were female.
Adding a conservatory could be a great way of pumping value into your property as an additional feature and living space.
Whilst some homeowners might feel that a conservatory might not be practical all year round, this is not necessarily the case. Modern conservatories have plenty of double-glazing options available to keep your conservatory warm and weather proof all year round.
The most popular region in the UK where people prefer a conservatory over moving is Northern Ireland, with a massive 75% of respondents opting for the extension. Just 50% of residents in the South would prefer a conservatory instead of relocating, as would 57% of those in the Midlands and Wales, and 52% in the North and Scotland.
The majority of those who would prefer to build a conservatory than relocate have children. Those households with four children are particularly keen to stay and extend, with a massive 71% saying they would prefer to build on their existing property.