Home Improvements cost Brits 1/4 of a Billion
Would be home improvers have recently been warned to tread with an air of caution when planning to remodel or renovate their properties, without the help of professional contractors.
According to a new study by one of the UK’s leading loan providers, hundreds upon thousands of Brits may be risking their financial health by opting to restyle their homes in their spare time. It is suggested that as many as half of all DIY projects result in failure, causing the hobbyist to actually lose value in their home opposed to increasing it. As an accumulative total, Brits have lost more than ¼ of a billion in the last year, due to project failure.
Statistics show that home improvement loans have surged in popularity over recent years, partly due to the number of TV shows produced around the subject, and partly due to a widespread desire by consumers to capitalise on rising house prices. However, very few homeowners who undertake such projects have any kind of experience in the field, with many taking on extremely complex projects such as extensions and causing serious damage to their properties as a result.
Consumers have been advised to ignore any temptation to destroy a dry wall, or add a conservatory without consulting with a seasoned professional beforehand.
