A study of 2,000 property owners found more than half are prioritising cosmetic makeovers because they believe it adds more value and offers instant gratification.
A study of 2,000 homeowners revealed that over half are prioritising aesthetic upgrades as they believe it adds more value and provides immediate satisfaction. Many prefer to spend on a new kitchen or bathroom suite rather than invest in insulation or energy-efficient heating systems.
In the study commissioned by Skipton Building Society, a part of the Skipton Group, over half of home owners confessed that energy-efficient improvements don’t provide the same excitement as a posh renovation, hence they choose flashy upgrades simply for the joy of something new, with 16% confessing their love for the thrill of a new home feature.
The study been released alongside The Big Retrofit report, which details the energy efficiency overhaul of a home previously dependent on fossil fuels.
The report, created in collaboration with Leeds Beckett University and the University of Leeds, unveils how retrofitting a typical 1930s detached house – the act of renovating a property to enhance its energy efficiency – increased comfort, and elevated the home’s EPC rating from D to B.
TV personality, property guru and Move iQ founder, Phil Spencer, commented: “It’s easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren’t always the most ‘Instagrammable’.”
He added: “Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home.”
Over a quarter now claim they know a neighbour who’s made significant low carbon technology or energy efficiency related modifications to their home – and 53% of these have been inspired to do the same.
Consequently, 48% have investigated getting solar panels, 24% have looked into upgrading their loft insulation. Meanwhile, 15% would contemplate installing triple glazed windows.
For 38% of homeowners, it was the finding out that their neighbours had managed to reduce their energy bills that sparked their interest. According to the study, nearly half of all homeowners now believe that making eco-friendly improvements has become a modern-day status symbol.
Charging an electric car on your driveway is seen as one of the top indicators that you’ve ‘made it’, followed by underfloor heating powered by renewables and owning a heat pump.
Michaela Wright, head of group sustainability at Skipton Building Society, commented: “As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same.
“There’s something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. It’s a positive sign that more energy efficient choices are becoming aspirational, not just practical.
“We understand that making energy-efficient home improvements might not be at the top of everyone’s priority list. That’s why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project.
“We’ve documented our experience and created a series of resources, to support others who are considering making similar improvements.”