With house prices dropping for the fifth month in a row and mortgage approvals at their lowest since May 2020, more people in the UK are choosing to stay put in their homes, waiting for the property market storm to pass. In the meantime, home improvements are a great way to save money and add value to a property.

One of the top home improvements is insulation. Up to a third of heat within a home can escape through uninsulated cavity walls and loft spaces. The average cost of insulating cavity walls is around £1,800 for a detached house and loft insulation costs around £900, but both improvements could save up to £600 per year on energy bills. In addition, improved insulation can help to raise a home’s EPC rating, which can attract a higher price when selling.

Another suggestion is installing solar panels. Making your electricity will save around £300 per year and reduce your carbon footprint. However, solar panels may not be suitable for every home as they require around 20 square metres of roof space, and a north-facing garden is not ideal. The average cost of a solar panel system is around £6,000. Properties with solar panel systems could also see a price increase of up to 2%.

Upgrading windows and doors can increase a home’s value and curb appeal. Double glazing ranges in energy ratings from A++ to E, with A++ to C being accepted by Building Control. Opting for A-rated windows and doors will retain the heat, reduce heating bills, and lower carbon emissions. While PVC is the cheapest option for frames, installing aluminium windows and doors can save money as they last longer.

Investing in a home gym can save money on expensive gym memberships and significantly increase the value of a home by up to 44%. Options for installing a home gym range from converting a garage or existing room to adding a small extension or garden room. Renovating a space and buying gym equipment could cost around £9,000, but second-hand equipment is also available. A wellness space for yoga and meditation is another budget-friendly option.

Creating a home office is another improvement that can help save money. With the UK government reporting an average commute time of 27 minutes, creating a home office can help save on travel costs and reduce carbon footprint. Opting for a folding desk or a standing desk converter can save space and money, while adding a day bed can make the office versatile and double as a spare bedroom. Investing in an extension or garden room can add value to a property.

Overall, these home improvements can help homeowners save money and add value to their property, even during a challenging time for the property market.