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Brits prefer making do to buying new

Thursday, 8 September 2011 12:45 PM

Two thirds of Brits say they would rather repair things in their homes than buy new, according to a survey by insurance company Legal & General.

Meanwhile 46 per cent of us see making home improvements as a priority over the coming year, compared to just 22 per cent who think moving to a bigger home or better area is more important.

And saving for the future (nominated by 75 per cent of those polled) and paying off debts (55 per cent) take priority over buying the latest gadgets (19 per cent).

The Changing Face of British Homes Report reveals a significant shift in how people see their home and their possessions over the last three years.

In 2008 86 per cent of Brits admitted to replacing broken or damaged household items without any attempt to fix them first.

The survey also shows that home ownership is becoming a longer-term objective for many people with only 17 per cent of 16-34 year olds saying it is a priority. Legal and General say this is encouraging young people to think differently about making a home of a rental property.

Brits are keener to spend money on entertaining friends and family at home and pursuing sports and hobbies than they are on buying expensive things for the home. And “up-cycling” – taking something disposable and transforming it into something more useful – is gaining in popularity.

Mike Lawler, director for Legal & General’s general insurance business, said: “We have seen a clear shift in the way we view our homes and possessions in recent years. In the first Changing Face of British Homes report, 15 per cent of people said they would like to dedicate a room in their home to become a library – now people are questioning the need to even have bookshelves.”

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