It's been found that UK homeowners have spent a joint £295 billion on home improvements over the last five years
The study, carried out by Post Office Money, revealed there's a good reason for this - our home improvements are adding £40,000 to the value of a property.
The renovation that is most likely to increase a property’s value is a new kitchen, followed by walk-in wardrobes and perfectly landscaped gardens.
The study of 2,000 people also found five per cent were carrying out this work with the ultimate goal of moving, while 59 per cent said they were getting the tasks done to improve their home's appearance.
Chrysanthy Pispinis, of Post Office Money, said: "Over the past few years, house price growth has slowed, so homeowners have turned to other options to add value to their homes – with renovations being a clear opportunity. Making the right changes to your home can increase its market value significantly; if improving your home’s asking price is your priority, it’s important to keep in mind the cost of the improvement and the value it could add".