People are frequently renovating their own home instead of moving to a new house, it has been said.
Anna-Marie DeSouza, editor of Build It magazine, suggested that renewable energy devices, living space on the ground floor, extensions and other renovations are being fitted to houses in order to make them a “lifetime home”.
Basements are frequently dug out or renovated to create bedrooms, offices and games rooms, although this can be quite expensive, she added.
Often, the price of adding this room can be twice what would be paid for a loft conversion, the specialist continued.
Furthermore, creating natural light in basements can also be particularly expensive, she noted.
“It’s not always as easy to upgrade living arrangements by simply moving to a new, larger home,” Ms DeSouza said.
A recent survey from the Nationwide Building Society found 47 per cent of owner-occupiers intend to perform home improvements in the next 12 months, while just eight per cent intend to move.