People are upgrading their homes because they're juggling family needs and work habits, according to a new study. Research for Aviva found that nearly half (44%) of homeowners want to renovate within the next couple of years. Of these, more than one in five (21%) plan to add extra room. Home working is making a quarter (25%) of those extending their house do it, like setting up an office or space for a side job. With multi-generational living on the rise, 17% say it's a reason to expand their place. In the last two years, over half (56%) have also increased their home's energy efficiency, and 55% plan to do so soon.
Aviva's Hazel Johnson noted: "The findings from our latest How We Live report highlight a significant trend towards creating more adaptable and energy-efficient living spaces, reflecting modern working practices and the prevalence of multi-generational living. "While it’s exciting to see the ambitious plans people have for their homes, it’s crucial that residents are aware that such changes can impact their home insurance.
"Whether people are creating space for family members or setting up home workspaces, it’s important that people inform their provider about any alterations to the number of people living permanently in their home or structural changes made. "Reviewing their policy and making any necessary changes to cover can help ensure homes and their contents are adequately protected in the event something goes wrong, providing valuable peace of mind for everyone under that roof.".
