More than half of homeowners want to ‘improve not move’ – spending big on their current home instead of buying a new one.

A poll of 2,000 adults who own a property, found 41 per cent ‘love’ their home, leaving 53 per cent wanting to adapt it to suit their changing needs.

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And one in six (17 per cent) would be willing to spend more than £20,000 on renovations.

Just 24 per cent would rather move elsewhere and start afresh but 46 per cent admit they will probably look to ‘list’ it within the decade.

The top reason driving people to move was the fact it may not meet their mobility needs as they get older.

While changes in lifestyle and a bigger property were other factors in considering listing it over loving it and making adjustments.

Sam Stannah, CEO of Uplifts, a home lift manufacturer, which commissioned the research, said: “Clearly, many people love the homes they live in – but there’s an acceptance that life can change in a heartbeat.

“We all cherish our homes, the research confirms this – however, what’s truly eye-opening is the level of anxiety that arises when we consider if the home we love today will continue to meet our needs in the future.

“The findings have shown homeowners are very much aware they might have to make a decision to move home or renovate to meet their changing mobility needs.

“But also, there are plenty of owners on the ladder who don’t feel their current property quite matches what they want in terms of space and location, currently.”

The research found the average homeowner has lived at their property for an average of 15 years.

With the comfort and familiarity, location and suitable size and layout the top reasons for 53 per cent considering their current place their ideal homestead. 

While the local community, feeling of security and facilities and amenities nearby among the others.

It also emerged 61 per cent believe their current home was big enough to accommodate any changes should their health requirements change.

And 41 per cent considered such needs when purchasing their property.

According to Checkatrade, the average cost of a house extension can be anywhere between £30,000 to £42,000, more than double the average amount respondents are willing to pay to meet changing needs – £14,000.

Aside from the stress of moving, mortgage lender Halifax estimates the cost of moving house, from stamp duty to conveyancing can cost £12,000.

Ultimately, deteriorating health and downsizing were the top reasons respondents would feel they’d consider selling – if push came to shove.

But those that are keen to make a move said the area they currently live in, having too many things to fix and their current rooms not being big enough were top motivations to list it.

The research, carried out via OnePoll, found 15 per cent of those polled have mobility issues – with climbing the stairs, stepping out of bed and reaching high shelves the top difficulties faced.

Yet only nine per cent of all adults considered a home lift installation a realistic prospect to help with mobility from floor-to-floor.

Sam Stannah, from Uplifts, added: “The research indicates many people believe installation of products to improve their home may feel out of reach.

“And as a result, the heartbreaking decision of having to leave a beloved forever home can become a reality for many.

“However, installing a home lift can be done without disrupting the layout of a home or requiring invasive or costly work.”

One of my favourite displacement activities is perusing the second-hand bookshops in Bradford on Avon during my lunch break.

The charm of second-hand bookshops is their randomness. “Second-hand books are wild books” unlike the “domesticated volumes of the library”, Virginia Woolf observed.

It was on one of these sojourns that I picked up a copy of Steven Pinker’s The Sense of Style – a guide on how to write.

Unlike speaking, writing is an unnatural act. Those of us in finance, in particular, struggle to get it right. Our industry suffers from what Pinker describes as “academese, bureaucratese, corporatese… and other stuffy prose”, characterised by compulsive hedging and professional narcissism. Why is this?

It often feels as though the finance sector operates in a bubble, with our own specific language and sub-culture

One contributing factor is that our collective reading habits are remarkably narrow. Judging from numerous proud endorsements on social media, we all read the same ubiquitous business/leadership/self-help guff.

It often feels as though the finance sector operates in a bubble, with our own specific language and sub-culture. Generally, I think we are a bit self-reverential, which perhaps comes across in the way we communicate outwardly.

I suspect our self-consciousness also has something to do with the regulatory burden, which encourages an evasive style. To avoid responsibility, writers adopt a passive voice (actor unmentioned) and insert zombie nouns in place of more straight-forward pronouns like I, me and you.

Some suggest we suffer from the curse of knowledge: a difficulty in imagining what it’s like for someone else not to know something you know

Some suggest we suffer from the curse of knowledge: a difficulty in imagining what it’s like for someone else not to know something you know. Others propose, less charitably, the bamboozlement theory – that opaque prose is a deliberate choice.

Ordinarily, when trying to understand any human shortcoming, the first tool I reach for is Hanlon’s Razor: never attribute to malice that which is adequately explained by stupidity.  The machinations of the finance sector, once more, is an exception to the rule.

For example, I know of one national wealth manager (at least) that encourages the supply of its disclosure document in unformatted, black and white, block text.  Surreptitiously tucked alongside colourful, matte finish sales brochures. This feels more like needle-in-a-haystack obfuscation strategy than lazy style oversight.

So – assuming we want to – how can we communicate more effectively to the wider population?

This feels more like needle-in-a-haystack obfuscation strategy than lazy style oversight

I’ve often thought we should recruit more arts graduates. The maths of personal finance really isn’t that difficult, and tech now does a lot of the heavy lifting anyway. The industry is moving away from investment/product-based solutions towards a broader planning approach with a bigger emphasis on soft skills and communication.

AI also presents a huge opportunity. Having initially been sceptical, I now use ChatGPT daily for basic research, proof-reading and writing blogs.  As the technology improves and we get better at using it, there will surely be a positive impact on the overall quality of writing in financial services.

Some people are already having fun with it – I saw a LinkedIn post showing how ChatGPT defined the word pension in the style of Holden Caulfield from The Catcher in the Rye. The output was really quite extraordinary, capturing the tone of voice perfectly.

I’ve since played around with other famous authors with mixed results. My Ernest Hemmingway makeover successfully replicated his taught, muscular prose but was littered with references to fish and bullfighting, which felt a bit off-topic.

This is the catch: while AI can help produce content, we humans remain the arbiters of what works and what is appropriate in any given context. Instead of being creators, we will become curators. This shift demands the same higher-order skills we currently lack, which brings me back to second-hand bookshops.

As Pinker explains, “Good writers are avid readers.” Perhaps, then, the hours spent procrastinating on my lunch breaks were worthwhile after all.

Dan Wiltshire is an independent financial planner at Wiltshire Wealth

HALF of consumers who struggle with their energy bills have never asked for help.

A poll of 2,000 adults found 39 per cent have difficulty managing them, but 45 per cent have never sought assistance – whether that be turning to loved ones or seeking professional advice.

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Reasons for this include belief they wouldn’t qualify for the support (34 per cent), stigma or embarrassment (28 per cent), and lack of information (26 per cent).

A fifth believe there isn’t enough energy advice out there.

And more than four in 10 (42 per cent) are worried about how they are going to keep on top of things this winter.

The research was commissioned by British Gas as part of its independent charitable trust – British Gas Energy Trust – which has partnered with the Post Office and eight local community-based charities to offer free, drop-in events at post offices across the UK this winter.

Abi Robins, director of responsible business at British Gas, said: “We know the colder months can be tough on a lot of people and there isn’t always advice readily available.

“The Post Office Pop-Ups provide help on lots of topics such as budget planning, energy debt advice, help with accessing energy debt write-off grants, and energy efficiency measures.

“Grants, fund money and energy advice services are also available through the Trust– with donations from British Gas topping £200m since 2004 – as well as providing direct support to struggling customers with matched debt repayments and non-repayable credit.”

The study also found rising costs, difficulty managing finances, and fear of disconnection were among the main concerns when it comes to paying energy bills this winter.

When speaking to someone about getting support, 26 per cent would want a face-to-face conversation.

But 35 per cent admit they find it difficult to talk about the struggles they face when paying their energy bills.

Of those who have previously got help, 35 per cent turned to friends or family, 27 per cent used Government schemes, and 24 per cent sought financial advice or counselling.

And according to the OnePoll.com data, half found it easy sourcing this information.

Exactly six in 10 of all respondents think there should be more support programmes to help people managing rising energy costs.

Jessica Taplin, chief executive of British Gas Energy Trust, said: “We know some consumers really want face to face advice, so these pop-ups are just one way we’re helping those already struggling with rising living costs this winter.

“We offer energy debt write-off grants through our Individuals and Families Fund, open now, and Energy Support Fund, opening 4th of November, to households facing fuel poverty, among other criteria.”

Simon Lambert, commercial and operations director at Post Office, said: “Every week, more than a million energy customers visit our branches to pay bills or top up.

“These pop-ups – held in London, Edinburgh, Glasgow, Leicester, Leeds, Newport and Stockport – are a fantastic way to connect customers with the additional support they may need this winter.”

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