Monday, June 13, 2011
Category:
Home Improvements
According to new research commissioned by Gocompare.com, ‘cash-strapped homeowners’ are delaying home maintenance projects in order to save money. In fact, 32 percent of those surveyed reportedly admitted that they are putting off home maintenance and decorating jobs to make savings. Meanwhile, it was found that fitting a new kitchen and bathroom suite had also been delayed by 22 percent and 17 percent respectively.
The comparison website’s research also revealed that 32 percent of respondents said that they ‘really need to make some cutbacks to make ends meet’. It was found that respondents had identified that they could make savings by not carrying out home maintenance and renovation projects. Findings also showed that 8 percent of respondents would consider reducing their outgoings by failing to renew their home buildings insurance, whilst a further 8 percent would consider not renewing their home contents insurance.
Gocompare.com has highlighted the fact that it is important not to make false economies whilst trying to save money. Homeowners are advised to ensure that their property is adequately protected and that essential repairs are not ignored. It has been pointed out that putting off structural repairs could lead to more costly damage in the long-run.
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Homeowners who are currently lacking the money required to pay for essential repairs to their property could consider taking out a secured loan. One of many finance options available, a secured loan for
home improvements could allow borrowers to rectify any areas of concern. For example, a leaking roof could be repaired to make the property watertight and to prevent further damage from being caused. Following significant repairs to the property, borrowers could even take the opportunity to redecorate and even refurbish their home if desired.
