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Increasing numbers of Britons are opting to renovate their properties rather than endure the stress and financial burden of trading them in.

Research from Standard Life Bank shows that one in ten UK property owners aged between 30 and 40 has added an extra room to their dwelling, with the average expansion adding some 150 sq ft to their home.

"Savvy homeowners appreciate that their property is a valuable asset and investing time, effort and money could be worthwhile," commented Standard Life Bank trends expert Ashley Ramsay.

In addition to the financial benefits, so-called 'relocation stress syndrome' is a major factor in deterring homeowners from putting their property on the market.

One recent study out of Australia suggested that moving home is second only to divorce as a source for stress and anxiety

"Having chosen where they want to live and settled into neighbourhoods, they (homeowners) are loathe to start over again," said Ms Ramsay.

Experts add that even simple home renovations such as installing double glazing can add value to a property, with the added benefits of conserving energy and lowering heating bills.

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Author:  Joanne McCabe

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