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Home improvement plans sweeping the nation

Tuesday, 28 April 2009 12:13 PM

A quarter of Brits are planning on making substantial improvements to their homes this year, according to research by Unbiased.co.uk.

The professional advice website has found one in ten homeowners are currently saving up to afford home improvements, with two thirds of those doing so to make their home "look and feel as they wish".

Unbiased.co.uk also found 15 per cent of home improvers were looking to make more space for their family, with eight per cent wanting to add value to their home. The younger age bracket (18-34) in particular, attributed home improvement to "adding value to their home".

Richard Winder, spokesperson for Unbiased.co.uk said: "As the housing market continues to show no solid signs of recovery, many consumers may be put off buying or selling a property.

"It is therefore encouraging to see not all homeowners are allowing themselves to be beaten by the downturn. Many are turning their attention to the house they're in and planning substantial home improvements this year, which could potentially add both monetary and aesthetic value to a property.

"However, we would urge anyone planning to invest significant sums of money into their home to seek advice on how best to finance these renovations in the current climate. Those who are currently considering their options should seek professional advice from an independent financial adviser."

Nearly a third of those surveyed in the research said they'd like to improve their home but simply wouldn't be able to pay for it.

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