Wednesday, April 4, 2007
Category:
Home Improvements
As the peak season for home improvements is nigh, Brits have revealed that their love for DIY may finally be fading.
This is according to the latest research from Woolwich mortgages which revealed that almost half of those surveyed confessed that they aren’t actually that keen on DIY and 75 per cent are tired of watching makeover / DIY programmes. 40 per cent of respondents said that their lack of enthusiasm for DIY is said to be down to not having the time, 37 per cent said that they were likely to do the job badly and 22 per cent thought that it invaded their leisure time.
Rather than do the job themselves, seven out of ten UK homeowners prefer to get someone in to do the job, or consider getting someone in before tackling the task themselves. Employing an expert was preferred by homeowners needing plumbing, extensions and by those who needed to install a new kitchen or bathroom. Other tasks that should be done for homeowners included carpeting, tiling or flooring, and replacing fires.
The survey also questioned the percentage of DIY tasks which go unfinished and it was found that a fifth of painting and decorating jobs are left uncompleted. Those most likely to opt for getting people in to complete work for them are those homeowners living in the East and West Midlands. Seven in ten questioned said it was due to the lack of time or the potential that DIY invades their leisure time.
Andy Gray, head of mortgages for Woolwich said: "It seems that the phrase 'time is money' applies to the UK’s new DFYers. People think their own time is precious and with the added concern that they are not going to do a good job, people are increasingly turning to experts to get the job done.
“Home improvements can make a tangible difference to the value of peoples homes, but a bad standard of work can drag the price down. Savvy buyers can often see through botched DIY jobs, meaning that sellers will either need to drop the price or employ an expert to re-do the task."
“In order to get the home improvements done properly people are increasingly looking to use their mortgage to fund them. With competition so high in the market place we are often able to reduce customers outgoings considerably on a monthly basis by remortgaging, which will help them afford to get the home improvement experts in.”
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Homeowners planning on getting someone in to complete bigger projects for them, and who are looking for finance to pay for the projects, could consider a secured
home improvement loan. One of many options to pay for grander home improvement projects, a secured home improvement loan could be used to fund an extension, garage conversion, loft conversion or even a basement conversion. These home improvement projects can provide the space needed to accommodate a growing family. A secured home improvement loan can also be used to give homes a long awaited makeover, or to refit kitchens or bathrooms as desired. Secured home improvement loans can usually be repaid over a term to suit the borrower from 5 to 25 years.
