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New Study Shows Home Improvement Intentions Of DIY Loving Brits

May 29, 2008
Programmes such as Changing Rooms, Grand Designs and 60 Minute Makeover are causing rising numbers of budding Handy Andys and Nick Knowleses to renovate their homes.

Such is the claim of Alliance & Leicester Personal Loans, where in a recent piece of research it was shown that just under three-quarters (73 per cent) of budding DIYers claim to get inspiration to retile bathrooms, decorate rooms, convert loft space and undertake other projects after watching shows on the small screen.

According to the financial services provider, redecorating rooms is the most sought-after improvement to a property, with more than half (54 per cent) of those questioned looking to get this done. Some 43 per cent want a new bathroom, with 41 per cent looking to have either new flooring or carpeting fitted. Meanwhile, just under a fifth of respondents have their eyes set on replacing their guttering networks. Double-glazing, garden landscaping and having a new driveway were indicated as other home improvement projects Britons wish to have carried out.

Furthermore, it appears that consumers are willing to splash out significant sums of money on improving their home. Alliance & Leicester revealed that the typical Briton thinks it would cost them 11,833 pounds to carry out work on their house to make it match their property desires.

Those consumers looking for an effective means in which to finance renovation work on their home, may find that taking out a home improvement loan could be recommended.

However, it was revealed that having improvements carried out on rooms and gardens can have more than just an aesthetic impact on a house. Citing figures by the Royal Institution of Chartered Surveyors, the firm pointed out that having a loft conversion can add some 10,000 pounds on to the value of a property. Fitting double-glazing and a new bathroom were shown to place 8,000 and 7,500 pounds respectively on top of how much a home is worth.

Commenting on the data, Richard Al-Dabbagh, head of personal loans for Alliance & Leicester, claimed that the proliferation of DIY-focused TV programmes can make carrying out home improvements look like it is "an easy thing to do". He added that this has meant many consumers are now looking towards renovating their property.

Mr Al-Dabbagh said: "Home improvements should make properties desirable, not only for homeowners while they are living in the house, but also for when they choose to make the most of the investment of time and money and sell. While redecorating rooms is a quite an easy and inexpensive home improvement, it is in fact loft conversions and new kitchens that can add the most value to a property."

He went to assert that homeowners wishing to fund such home improvement projects might want to consider getting a personal loan. The financial expert added, however, that those looking to do this should take the time to ensure they get the loan which is most suitable for their needs.

Meanwhile, propertyfinder spokesperson Nicholas Leeming claimed that as there are fewer amounts of people looking to purchase a home it is important for consumers wishing to sell their property to do as much as possible in ensuring that their house appeals to would-be buyers. It was suggested that having a tidy garden and redecorating rooms can help result in a quick sale, although such moves may not add too much money to the overall value of a house.

Whether wishing to boost the value of a home before putting it on the market or simply looking complete a makeover of the living room, getting a personal loan for the purposes of home improvement may be recommended. In taking out this kind of loan, borrowers may find that they are able to not only purchase the material required for such projects but also hire qualified professionals to carry out the work. A home improvement loan could also be advised for those consumers looking to renovate their garden this summer.

Last month, a study by Lloyds TSB showed that half of Britons are set to spend more than 200 pounds on enhancing green spaces, with three per cent prepared to splash out 750 pounds.
About the Author
Abbi Rouse writes for All About Loans. Visist us today to apply for secured UK loans, low cost personal loans, and loans for tenants.
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