61% of Homeowners Choose to Stay Put

A comprehensive study from specialist lender Evolution Money reveals that while the majority of UK homeowners prefer to stay in their current homes rather than navigate the property market, rising costs are leaving millions unable to fund planned renovations or essential repairs.

The UK Home Improvements Report combined a national survey of 2,000 UK homeowners, cost data from four leading tradesperson platforms, and proprietary lending data to examine how consumer savings compare with real-world renovation expenses.

Renovation Over Relocation

According to the findings, 61% of homeowners would prefer to improve their existing home rather than move over the next five years. Among those choosing to stay put:

• 61% say they like their current home and neighbourhood.

• 42% state that moving costs (stamp duty, estate agent fees, conveyancing) are too expensive.

• 42% cite the stress and disruption of moving.

• 41% believe property prices remain too high.

Renovations now out of reach for many too 

While half of surveyed homeowners plan to use personal savings to fund home improvements, only 34% currently maintain a dedicated home improvement fund.

The typical estimated cost for a major renovation ranges between £20,000 and £40,000, yet 75% of homeowners have less than £10,000 saved, and 46% have under £5,000. Facing this shortfall, 28% (over a quarter) admitted they would consider tackling complex building or trade work themselves rather than hiring a professional.

Kerri Pender, Managing Director at Evolution Money, commented:

"If you’re planning a renovation, it’s best to build a dedicated fund before work begins. While the amount you’ll need will depend on the scale of the project, having enough to comfortably cover your expected costs, and setting aside a contingency for unexpected expenses—can make a huge difference. Renovations, particularly in older properties, often uncover issues that aren’t visible until work is underway, so budgeting for the unexpected is vital."

Most Delayed Home Renovations

Two-thirds (67%) of respondents have been forced to delay planned renovations due to cost, with 39% postponing multiple projects.

The most delayed home renovations:

Demand for Energy Upgrades Hits Upfront Cost Barriers

The report highlighted strong consumer appetite for environmental upgrades, with 75% of homeowners stating they would consider improvements designed to reduce energy bills. However, high upfront equipment and installation fees mean these projects remain out of reach for many savings pots:

• Solar Panels: £7,187 average cost

• Air Source Heat Pump: £9,125 average cost

• Underfloor Heating: £9,570 average cost

• New Boiler: £6,017 average cost

• 46% have less than £5k saved for home improvements, which puts these upgrades out of budget

Kerri Pender says: “For homeowners whose savings don’t quite stretch to larger improvements, the key is to have a realistic plan. That might mean tackling the work in phases, prioritising the upgrades that will have the biggest impact on your home’s comfort or energy efficiency and supports a renovation that adds long-term value to your home and the way you live in it.

"Improving your home’s energy efficiency is often a worthwhile investment, as you may save money in the long run by reducing your energy bills. Research shows that 34% of people who undertook home improvements in 2025 made green improvements, such as adding solar panels or insulation.”