DIY enthusiasts look to up value of homes
Date: 27/05/2008 14:57:57
Homeowners are turning to DIY improvements in an effort to add value to their properties, a survey has shown.
Information from Halifax suggests people are looking to upgrade in an effort to fend off the effects of a flattening
property market.
More than a quarter of people are planning to start a project in the next 12 months, with redecorating and
garden improvements the most common ideas in the pipeline.
Halifax head of mainstream mortgages Russell Galley said: "In the current market, homeowners can inject value
into their homes by undertaking the right home improvements."
The research shows homeowners usually expect decorating to up the value of their home by up to £2,500, while those
installing a new bathroom mainly hope this will increase the house's price by £2,500 to £10,000.
Further trends show more and more homeowners are looking to attempt improvements themselves rather than hand the job over
to professionals.
Earlier this month Halifax Home Insurance warned those taking on big projects to ensure they know what they
are doing to avoid the risk of invalidating their
home insurance policies.