Understanding homeowners’ renovation decisions: Findings of the VERD project
Authors: Charlie Wilson, George Chryssochoidis, Hazel Pettifor (University of East Anglia)
Published: October 2013
In October 2011, the VERD project team at the University of East Anglia began a two-year research project investigating homeowners’ renovation decisions. This report summarises the findings, revealing why homeowners renovate and why they decide to improve their home energy efficiency. The findings summarised here are based on data collected from homeowners in three ways: a national survey; interviews; stated preferences for renovation alternatives. The findings also build on an extensive review of published articles and reports on home renovations. The data collected allowed the VERD team to answer the following questions: (1) Why do homeowners first start thinking about renovations? (2) How do homeowners decide to renovate? And why do they include energy-efficiency measures? (3) What value propositions are attractive to renovating homeowners? And what role might the Green Deal play?