Renovate your home or move? 1.7 million homeowners opt for renovation over relocation
Quick Summary
Millions of homeowners are choosing to improve and extend their property rather than move home according to data from Churchill home insurance. It reveals that one in 15 homes in England and Wales (1,740,402 homes) now carry official improvement Indicators, following substantial home improvements, such as loft conversions and extensions. Mortgage lenders are keen to offer remortgage funds to pay for home improvements.
Millions of homeowners are choosing to improve and extend their property rather than move home according to new research.
Data from Churchill home insurance reveals that one in 15 homes in England and Wales (1,740,402 homes) now carry official improvement Indicators, following substantial home improvements, such as loft conversions and extensions.
Additional research by Churchill reveals the practical and emotional reasons that discourage homeowners from moving. For 40%, the sheer stress of moving, including packing, dealing with property chains, and hosting viewings, is a major deterrent. A strong emotional connection to their home (32%) and a deep attachment to their community and neighbourhood (31%) also play significant roles in discouraging people from seeking out a new home.
Aaron Strutt, product director at Trinity Financial, says: "Lots of our clients are remortgaging to release funds to pay for home improvements. It often makes sense to release funds when your fixed rate comes to an end rather than getting additional borrowing; this way, you have one mortgage rather than a mortgage on two parts that potentially have different end dates. With so much competition in the market to attract borrowers, there are more remortgage options, especially for those keen to raise funds."
Homeowners choosing to improve their home rather than move. Surprisingly, financial factors such as removal costs (24%) and legal fees, including conveyancing (23%), rank lower than an emotional connection to a home. These pressures, however, often make staying put and improving a home a more appealing and less disruptive option than moving. In 2023/24 alone (the last full year data available), 103,043 homes were added to the Valuation Office Agency’s register following significant improvement work.
Table 1: Top factors that would discourage homeowners from selling their home and moving
| Rank | Factors | Percentage |
| 1 | Stress associated with moving: e.g.: packing, chains, viewings | 40% |
| 2 | Emotional connection to the home | 32% |
| 3 | Leaving a community and neighbourhood you love | 31% |
| 4 | Removal cost | 24% |
| 5 | Conveyancing/legal fees | 23% |
| 6 | Uprooting, unsettling my children | 15% |
| 7 | Schools and school catchment areas |
10% |
Source: Churchill home insurance 2025
Do you need to tell your insurance provider or the council if you are doing work on your home?
Churchill says anyone embarking on a home improvement project should always inform their home insurance provider, check the Government’s Planning Portal and consult their Local Planning Authority before commencing work. Some home improvements, such as small extensions, loft conversions, and garage conversions, may be allowed under permitted development, meaning that planning permission is not required if it is under a certain size and meets certain conditions.
However, it is important to note that permissions and rules can vary depending on location; for example, a listed building or a property in a conservation area will likely be subject to different rules. If homeowners are unsure whether planning permission is required, they can apply for a Lawful Development Certificate to seek confirmation that the project doesn’t need planning permission.
Call Trinity Financial on 020 7016 0790 to secure a remortgage to pay for home improvements, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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Source: Direct Line Group
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