Wednesday, October 17
DIY

So, why do you DIY?

Google+ Pinterest LinkedIn Tumblr +

Instead of trying to impress our neighbours, we now do DIY to improve our home's market value, a report says.

London – It used to be a case of keeping up with the Joneses.

But instead of trying to impress our neighbours, now we do DIY to improve our home’s market value, according to a report.

In 2012, adding value to the home came just fifth on a list of reasons to carry out improvements and just 17 percent of those questioned said this was their primary motivation.

Back then, “refreshing” the decoration was most homeowners’ inspiration for renovating.

But DIY has become more mercenary following rises in property prices in parts of the country, researchers found. Some 68 percent – triple the number in 2012 – said they invested in home improvements to increase their home’s value.

The European Home Report, carried out by Kingfisher, which owns DIY and home improvement company B&Q, also found that the greatest worry for homeowners across Europe was rising energy prices.

Of the 17 000 householders across Europe who were surveyed, high heating bills was the greatest worry by far, with 65 percent saying it was their greatest worry about their home.

In comparison, less than half, 23 percent, said that they were worried about keeping up with the mortgage or rent.

In 2012, at a time of recession and tough economic times in most parts of Europe, they were more likely to be worried about their jobs and the future.

As a result of worries about energy prices, the homeowners surveyed were also much more likely to focus on making their homes more energy friendly.

They were eight times more likely to prioritise energy efficient changes, like installing insulation, double glazing and using smart meters, the report found.

Nearly a third (31 percent) of those surveyed said that they intended to update their home’s energy efficiency, compared to just four percent in 2012.

The survey, which will be carried out every two years, also found that women believe that good DIY skills are the third most important feature in a man, after intelligence and being cultured.

Sir Ian Cheshire, Group CEO of Kingfisher, said: “Despite worries about rising energy costs, the big increase in those looking to use their home as a wealth creator through doing home improvement shows people are more confident about their homes than they were just a couple of years ago.

“Rising energy prices are a very real fear – right across Europe, a bigger concern even than worries about paying the rent or the mortgage. There is a staggering increase in the number of people who intend to prioritise energy efficiency and it is soaring bills that is driving this agenda.”

Daily Mail

Share.

About Author