DIY spending spirals out of control

As many as one in four DIY projects are completed at a cost substantially over its original budget, according to the latest research from Halifax Home Insurance.

According to the organisation Britons should expect the unexpected when planning major works on their homes – as DIY projects run an average of £4,690 over budget.

As a result Brits spend around £10,320 on each project on their properties and around £4.7 billion more than they would initially have planned.

However, it appears an element of any overspending may even be deliberate.

It appears homeowners get carried away when the work begins, with 53 per cent of DIY enthusiasts blaming upgrading to higher specification fixtures and fittings as the main cause of budget overspends.

A further 20 per cent revealed building work had unearthed further problems with a property which had to be rectified as a result.

A similar number admitted they had simply failed to correctly estimate the cost of the work.

Up to nine per cent of improvers cited being overcharged by workmen as the main reason for exceeding budgets, while four per cent claimed tradespeople had damaged their property.

"It’s interesting to see that the major reason for spiralling costs is often due to homeowners adding extras to a project half way through. Clearly it is all too easy to get carried away with adding more expensive fixtures and fittings as the project unfolds," said Martyn Foulds, senior claims manager at Halifax Home Insurance.

"Before embarking on any home improvement project, homeowners should always check tradesmen have the appropriate accreditations and references for their work.

"It is also critical that homeowners check that all tradesmen they employ have adequate insurance to cover for any damage caused to their belongings."