Nearly £600 is spent per year on average on home upgrades, survey finds

Renters are particularly unlikely to have insurance to protect their belongings, according to the research.

Vicky Shaw
Monday 09 October 2023 11:17 BST
The average annual spend on home upgrades is nearly £600, according to Aviva (Joe Giddens/PA)
The average annual spend on home upgrades is nearly £600, according to Aviva (Joe Giddens/PA)

People spend nearly £600 per year on average on enhancing their home, a survey indicates.

The typical annual spend was put by insurer Aviva at £593, whose research included homeowners and renters.

It found that 25 to 34-year-olds spend £1,040 per year on average, while over-55s typically spend £308 annually making tweaks to their property.

People were most likely to say their living room is most influenced by items that make their property feel like a home, followed by bedrooms and the kitchen.

They were also asked about the items that they feel make a house a home.

For sentimental items that are harder to replace, we advise residents to do their best to keep their belongings safe

Kelly Whittington, Aviva

Family photos came out top, followed by a full fridge, freshly washed bed sheets, a large television and plants.

As well as physical items, many people said that sleeping in their own bed (54%), having their own spot on the sofa (36%) and smelling freshly cooked food (31%) made them feel at home.

A third (33%) of people surveyed said they do not have any home contents insurance cover, while around one in eight (12%) are unsure if they have the cover or not.

The survey also indicated that renters are particularly unlikely to have insurance to protect their belongings, with only 43% of renters having home contents insurance compared to 73% of homeowners with a mortgage and 78% who own their home outright.

Kelly Whittington, property claims director at Aviva, said: “The right insurance will give you peace of mind and can also protect your wallet if the worst happens.”

She added: “For sentimental items that are harder to replace, we advise residents to do their best to keep their belongings safe. This can mean keeping things out of sight of prying eyes, storing photos on higher shelves in case a property is flooded, or investing in smoke and smart home devices to alert you in case of a fire or a break-in.”

More than 2,000 people across the UK were surveyed by Censuswide in July.

Here are the average amounts spent annually to make a house into a home by age group, according to Aviva:

16 to 24, £874

25 to 34, £1,040

35 to 44, £604

45 to 54, £568

55-plus, £308

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