British homeowners are opting to carry out ambitious improvement projects rather than attempt to sell up and move, a new study has found.
With growing numbers of people wary of making a
property transaction in such an unpredictable economic climate, some 57 per cent of
Brits have either undertaken DIY projects within the past six months or plan to do so in the next year.
Of those polled by the insurance firm LV=, 15 per cent said that they are looking to carry out work with a view to making their property worth more money in the long-run, while around the same number said that they were carrying out such work as they feel that moving to a new home just isn't financially prudent or possible right now.
Emma Holyer, spokesperson for the firm, explained: "Despite the challenging housing
market and lack of affordable
mortgages, we are still a nation obsessed with our
homes and what money we can make on them.
"Many homeowners told us they were spending this money so they could profit more on their homes when they do come to sell them after the market has stabilised. This shows that although people are concerned about the short term housing market there does appear to be optimism in the long term."
Anyone carrying out
home improvement projects may want to look into
safe storage to protect their possessions while the work takes place.
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