How many British homeowners want a bigger home?

They are planning to spend over £5,000 for more space.

A survey has found that 50% of British homeowners are desperate for more space, and they are planning to spend over £5,000 on average on home improvements in the next year.

Attic Self Storage reported that the average Brit is looking to spend £5,084 on home improvements, with creating more space being the most popular motivation. It added that 46% of people feel they do not have enough storage at home, which has left 73% feeling frustrated, stressed, overwhelmed and anxious.

Respondents aged 35 to 55 are likely to splurge the most, at an average of £6,482, while people from Oxford are keen to spend the most at £9,443 per person.

The high demand and a shortage of available properties is causing a rise in house prices. Therefore, instead of moving, many are planning to create more space within their own property, Attic Self Storage said.

Despite the lack of space, many Brits still want to make their homes multi-functional and would consider converting their storage spaces. One in five (20%) would consider converting the shed or attic into a hobby room; 16% would convert their attic or garage into a game room; and 16% would convert their attic or garage into a home cinema.

Retrospectively, nearly half (48%) of Brits have made changes to their homes in the last two years. The most popular improvements were converting a room or a cupboard into an office and transforming a corner into a reading nook.

Frederic de Ryckman de Betz, chief executive at Attic Self Storage, said the research shows the way we live, work, and relax has changed over the past few years due to the pandemic, and that our homes have continued to reflect that.

“In particular, Brits are desperate for storage, especially with the limited space in the capital. However, people are still considering investing time and money into transforming their spaces so that they’re multi-functional and can be used to live and work in ease and comfort,” he said.

Written by: Houseladder