Monday, November 6, 2006
Category:
Home Improvements
This coming bank holiday, many home improvers are turning away from DIY in favour of GSI or getting someone in.
It has been researched by Abbey that although home improvement enthusiasts prefer the perceived cheaper option of DIY, with the majority of DIY projects taking up to 12 months or more, GSI could in the long run be a cheaper option.
The amount of time and money invested in DIY for materials etc… can sometimes prove to be far more costly than to GSI. Abbey research claims that to pay a professional to sand a 25m² would cost around £500 and take around six hours, while to DIY would take approximately twice as long and cost around £420, adding a further £146 when adding in an hourly rate, overall costing an extra £66. With such a varied number of options on offer to fund GSI it is not surprising that the nation’s enthusiasm for DIY may well be on the decline.
Jeff Scott, Head of Abbey Loans has said, “On the whole DIY seems to be a lengthy and stressful affair which can be made much more painless by simply paying to GSI. With a number of options available to fund GSI such as low interest personal loans, why DIY when you can GSI?”
As well as the obvious cost and leisure time matters involved in DIY, Abbey has noted that 10 per cent of their respondents have confirmed that living in a semi building site can take its toll on relationships. Relationship issues and breakdowns have been reported in the past due to the strain of trying to complete projects and living in disruptive circumstances.
As a way of funding GSI and reducing the stress of DIY, those contemplating
home improvements may want to consider taking out a secured personal loan. Borrowers will not only enjoy a stress free build but may also add value to their property. Most lenders offer personal secured loans in the region of £10,000 to £100,000, over a term from 5 to 25 years.
