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The last two years of COVID restrictions have been extremely difficult for many businesses. Industries like hospitality and travel have struggled immensely. However, one industry that has thrived more than ever is the home improvements sector. With citizens forced to stay at home, homeowners took the opportunity to make their homes as good as they could be. In fact, Google searches for ‘home remodel’ increased by a staggering 93% by March 2021. This translated to an 8.5% increase in revenue for home improvement businesses.
As we head into our first restriction-free Summer since the pandemic began, some believe that the home improvement boom is sure to slow down. However, research from the Joint Centre for Housing Studies of Harvard University anticipates a further increase in home improvement spending in 2022, which will decelerate towards more sustainable rates of growth towards the end of the year. They insist the changing domestic needs of homeowners remains in sharp focus.
So, what will homeowners be spending their money on this year? Which parts of the home will receive the most attention and which products will be the most popular?
Firstly, let’s take a closer look at the numbers behind the lockdown home improvement revolution.
Further research from Harvard University actually suggests that, by 2025, 56% of all home renovations will be done by baby boomers. This is an increase of 25% from 2005, as the population ages and invests in more ‘aging-in-home’ renovations. This is evidence to suggest that less homeowners are thinking of moving house and are more focused on improving what they have. As we leave COVID behind, here are some predictions for what projects will be the most sought after…
The August of 2020 saw gardening product sales increase massively, with outdoor plant purchases increasing by 35%. Unable to go out and socialise, homeowners spent thousands on upgrading their garden and making it a more relaxing space. Amidst this great garden revival, bifold doors became incredibly popular. Becoming the third most profitable home improvements in the UK, it was estimated that bifold doors would add £5256 value to your home in 2020.
In 2022, this trend shows no sign of slowing down. With the complete return of the Great British barbecue, bifold doors will surely come into their own as seamless blenders of outside and in. Allowing easy access from the kitchen to the garden, they will help to fill the home with natural light. This will bring homeowners a much-needed feeling of spaciousness after two years of being couped up indoors.
Kitchens have remained the most renovated room in UK homes. Based on Google Search data, kitchen extensions saw an increase of 23% during the pandemic. Paint sales also increased by 47% as homeowners looked to completely freshen up their homes.
A more spacious kitchen can do wonders for your wellbeing, helping the kitchen to become a brighter, more relaxing space. Furthermore, it’s estimated that a kitchen extension can add 5-10% value to your home.
One option that we anticipate many homeowners choosing is a glass extension. This combines the benefits of a conservatory and a solid extension, allowing the kitchen to be filled with natural light and connected to the outdoors.
As working from home became a requirement for thousands of people, many homeowners converted their conservatories into temporary, makeshift home offices. However, with many businesses choosing not to return to the office, many homeowners will now be seeking to make those home offices permanent spaces.
With this in mind, conservatory renovations may be very popular in 2022. Replacing the conservatory roof will help to make the space a much more comfortable and quieter space to work. In today’s market, a quality home office could see your home’s value increase by 10%.
A tiled conservatory roof, furthermore, would help to accentuate that feeling of permanence and stability as workers settle into their new homelife-worklife balance. In fact, research suggests that new conservatory roofs were at the top of the list of desired home improvements for 21% of homeowners in 2021. It’s an affordable, minimally intrusive home improvement that can make a big difference to your home’s thermal performance.
There are several reasons, both functional and aesthetic, why windows will be one of the biggest-selling home improvement products in 2022.
Firstly, after two years of uncertainty and claustrophobia, increasing the amount of light and space in the home is going to be essential. The simplest way to achieve this is by increasing the number of windows in the home. With a more heightened focus on personal wellbeing, many homeowners will seek to fill their homes with natural sunlight.
Secondly, with energy bills rising dramatically, homeowners will do everything they can to make their home as energy-efficient as possible. In some cases, around 30% of a home’s energy can be lost through underperforming windows. This is no longer a loss that homeowners can afford.
Investing in modern double-glazed windows will help homeowners to better conserve their home’s energy and reduce their energy bills. Furthermore, with ‘smart homes’ predicted to be worth $53.5billion by the end of 2022, today’s market demands that homes be eco-friendly if they are to sell at a higher price.
With the cost-of-living crisis only just beginning, homeowners will see replacement windows as an investment worth making now, in order to save them money long into the future. As well as adding up to 10% value to their home, they can expect to save anywhere between £75 and £110 a year on their energy bills.