Renovate or Relocate? Why Millions Are Choosing to Stay Put

Moving home used to be the big life upgrade. New area, new space, new everything.

But right now? Across England and Wales, 1.7 million homes have gone down a different route: renovation over relocation.

Yep - that’s one in 15 properties choosing a loft conversion over a For Sale sign.

And honestly… it makes total sense.

Why people are swapping moving vans for builders

The cost of moving has crept up quietly (and not-so-quietly):

• Stamp Duty → a chunky bill before you’ve even unpacked a mug.

• Higher mortgage rates → fewer people wanting to start fresh on a pricier deal.

• Rising house prices → tricky to find something bigger without adding another £££ leap.

• Lack of “perfect” homes → let’s be honest, most properties still need work anyway.

So people are saying:

“If I’m going to spend money either way… I may as well make this house work harder for me.”

And honestly? Fair enough.

“If I’m going to spend money either way… I may as well make this house work harder for me.”

And honestly? Fair enough.

What counts as a renovation?

We’re not talking about a lick of paint or a new IKEA shelf.

The properties flagged with “official improvement indicators” have usually had things like:

• Extensions

• Loft conversions

• Major structural changes

Basically, work that genuinely changes how the home functions.

Fun fact: your Council Tax won’t increase while you live there, even if you add value. The band only resets if you sell or if there’s a nationwide revaluation. Handy.

We’re seeing the same trend here at NG Mortgages

Across Wirral, more clients are coming to us with a similar plan:

“I need a new rate… but I also want to pull some money out and finally sort the kitchen/loft/extension.”

It’s smart. If you like your location, your neighbours, the school catchment, the commute - why gamble on a new place that still needs work anyway?

Remortgaging to release equity can:

• Help you fund the renovation

• Increase your property’s size or value

• Save you the cost (and drama) of moving altogether

• Let you create a home that actually fits your life now

So… should you stay or should you go?

It comes down to two things:

1. Do you like where you live?

If the postcode works, upgrading your current home might be the smarter play.

2. Does the maths add up?

Renovating isn’t always cheaper, but it’s often better value because you’re shaping your home to your exact plans.

If you’re on the Wirral and thinking about releasing equity for a project, switching deals or just wondering what your options look like… I can help you run the numbers in plain English.

No jargon.
No upselling.
Just honest advice and a clear plan.

Mortgages, simplified.
And sometimes… home life, improved.