Cavanna Homes Highlights Cost Comparison Between Renovating and Buying New

Britain is spending more than ever upgrading older homes, but new figures suggest buyers may be starting to weigh up a different option.

The latest report from Houzz shows that homeowners who renovated in 2024 spent a median £21,440. That represents a 26 per cent increase on the previous year.

At a time when renovation costs are climbing sharply, housebuilder Cavanna Homes believes more buyers are recognising the financial case for purchasing a brand new home instead.

£21,440 Added to the Real Cost

According to the research, more than half of UK homeowners undertook renovation projects last year. Many focused on kitchens, bathrooms and updating outdated layouts to suit modern living.

In most cases, these were not minor touch ups. The report found that nine out of ten homeowners brought in professional help, pointing to substantial works rather than cosmetic changes.

For buyers considering an older property, that median £21,000 spend can effectively become part of the overall purchase price. Energy efficiency upgrades, new heating systems, insulation improvements and structural alterations can quickly increase budgets, particularly in older housing stock that was not designed to meet today’s expectations.

Energy Efficiency and Running Costs

New build homes present a different picture.

Built to current building regulations, they typically achieve strong EPC ratings and include high levels of insulation, modern glazing and efficient heating systems from the outset. Lower energy use can translate into lower running costs, offering greater clarity for households concerned about unpredictable bills.

Managing Risk and Unexpected Costs

There is also the question of risk.

Renovation projects can uncover hidden problems such as outdated wiring or ageing roofs. These discoveries can add both cost and delay.

By contrast, a new build home comes with newly installed systems and structural warranties, reducing the likelihood of unexpected expenses in the early years of ownership.

Cavanna Homes says its properties are designed with contemporary layouts, integrated kitchens and energy efficient features built in as standard. Instead of committing more than £21,000 to modernise an older property, buyers can move into a home designed around the way people live today.

As renovation spending continues to rise, the £21,440 median figure is becoming more than just a statistic. For some buyers, it may now form part of the decision about whether to update the old or start fresh with the new.

For more information about the energy efficient homes built by Cavanna Homes, visit cavannahomes.co.uk

📷A typical Cavanna Homes street scene