More than a fifth (22%) of respondents said they would definitely start work, and 36% said the issue was on the agenda but had not yet made a final decision.
The greatest willingness to renovate appears to be in small villages and hamlets. Here, one in four respondents (26%) are already quite sure that they will improve the area around their house in the next 12 months. As we move towards the larger cities, this proportion decreases, with only 10% in Budapest.
A very large proportion of respondents, 80%, were unaware that the 50% home renovation grant, launched this year, is also available for garden, yard, or patio improvements. However, those who have already decided to renovate seem to be more knowledgeable about this issue. In fact, 15% of those planning work around the house are quite sure that they will use the state aid for reconstruction work, while a further 45% are still considering this option. However, many are very definite about their plans, as almost two-thirds (64%) of those planning to renovate their house will definitely start the work even without state aid.
Those who would like to use state aid typically plan to carry out large-scale projects. Among those who are aware of the possibility to use the aid for this purpose and want to take advantage of it, the average renovation value is around HUF 640,000. By contrast, the average budget is HUF 460,000 for those who were not aware of this possibility or did not wish to use it.
Overall, most (71%) plan to spend less than half a million forints on reconstruction around the house, while a fifth (20%) of those planning to renovate plan to spend between half a million and a million forints.
"There is a noticeable increase in the demand among the public for making gardens attractive. More and more people are willing to invest in this. The growing enthusiasm for renovation experienced during the pandemic is not waning, and is not limited to work inside homes. With the arrival of better weather, more and more people are also looking to spruce up their gardens," says an expert from Semmelrock.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
