Over 57% of Irish homeowners intend on making improvements to their home at an average spend of up to €5000 within the next 12 months, an AA Home Insurance Survey of almost 11,000 people has found.
While 36.05% of respondents said they would ‘probably’ make improvements to their home within the next 12 months, 21.11% stated they would ‘definitely’ be making some changes. Among the most popular changes Irish homeowners expect to carry out are; redecoration (64.20%), a new patio or garden improvements (24.69%), and purchasing new furniture (22.49%).
Homeowners in Dublin are likely to be the biggest spenders in this period with 3.26% planning on spending more than €50,000 refurbishing their home, slightly higher than the national average of 2.83%. Meanwhile, Connacht homeowners are less likely than others to carry out home improvements in the near future, with just under 26% saying they would ‘probably’ or ‘definitely’ not carry out any work.
While redecoration was the top priority for homeowners across all age brackets, the risk of flood damage was a major concern for younger homeowners. 3.23% of those aged 17-24 who own their own home intend on carrying out flood resilience work, compared to the national average of just 0.84%.
Despite women being slightly more likely than men to make improvements to their home within the next 12 months, with 58.55% stating they would ‘probably’ or ‘definitely’ make some upgrades compared to 55.6% of men, they intend to spend less in doing so. Of those intending to upgrade their home, just over 15% of women plan on spending more than €10,000 on home improvements. Meanwhile, almost 1 in 5 men (19.08%) plan on admitted that then intend on spending in excess of €10,000 improving their home.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.