Monday, September 11, 2006
Category:
Home Improvements
Research conducted by Abbey has shown that some peoples’ home improvements are becoming a little out of the ordinary.
People are no longer just excited by swimming pools and Jacuzzis, some are suggesting that they would like to see bomb shelters, balconies and bars added to their properties. 11% of respondents to the Abbey survey said that they would like a bomb shelter, the younger generation of 16 to 34 year olds being the most keen.
While traditional home improvements such as adding a new kitchen or bathroom, are still popular, the Abbey survey shows that the most popular areas on respondents’ wish lists are outdoor rooms, cocooning and nouveau naff. One in three respondents wanted to landscape their gardens, add a roof garden or build a balcony. Home comfort is becoming more important, with 53% of respondents stating that they would like to have a home cinema and gym. Home improvements which would have been considered to be crass in years gone by are making their return with seventy percent of respondents saying that they would like a Jacuzzi, hot tub or sauna.
Though naff is making a come back, the nation is still in love with home designs of days gone by. Ten percent of those surveyed would take great pride in restoring the original features of a period property, even going as far as wanting to replace plastic pipes with cast iron ones. Of those surveyed, women were the biggest lovers of authentic features in the home.
Abbey’s survey also questioned why we are so keen to make home improvements. The main reason revealed by their survey was that we are a rather indulgent nation, with 72% of respondents stating that it was to satisfy their own individual taste. Women were seen to be more commercial when it comes to adding value to property with 85% stating this to be a key reason for carrying out improvements compared to 79% of men, and that it was a cheaper option than moving house. Over 80 percent of respondents to the Abbey survey didn’t mind spending more on home improvements in order to get the job done properly.
Commenting on the survey, Angus Porter, Abbey’s Customer Director said: ‘With house prices still rising, many people cannot afford to move up the property ladder. But many have access to equity in their own property, which can be put to good use by funding home improvements to re-vamp their home to suit their lifestyle.’
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An alternative option to fund
home improvements is a secured home improvement loan. Home owners could find that by putting a secured loan to good use by adding a conservatory, extension or loft conversion, might add value to their property, allowing them to move up the property ladder without actually moving house. Secured loans can usually be taken over a term of 5 to 25 years and can provide home owners with the finance to create their dream home.
