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Less home buying/selling, more DIY
According to a survey by Halifax, homeowners are preparing for a long summer of DIY, in the hope that a spot of tarting up will add the value their properties won't gain from a naturally rising market. Forty-four per cent are apparently looking to add an average of £5,000 to the value of their homes; 12% are more ambitious, with a target of £10,000 to £25,000. Exactly how they intend to achieve this is a lot less ambitious... redecorating (71%), garden improvements (35%), new furnishings (33%), new carpets (25%), a new bathroom (21%).
Technorati Tags: interiors, property, real estate Comments
Presumably they will do this without borrowing and with disposable income after rises in fuel and food prices. Or are the DIY retailers going to have a discount price war?
Posted by Bob Walton at
May 27, 2008 10:09 AM
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�25,000 - that's a lot of shelves. Every shelf you put up will add �500 to the value of your house (said a spokesman for B&Q).
Posted by tom at
May 27, 2008 11:35 AM
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@tom - Hah! Hadn't heard that one. But I suspect the whole home improvement thing is a bit of a crapshoot when it comes to adding value... unless your DIY skills extend to building...
@Bob Walton - i was wondering the same thing. Hope it's the latter, I need a new hedgetrimmer.
Posted by Ben at the Rat and Mouse at
May 27, 2008 12:47 PM
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