The number of householders doing their own home improvement rather than moving house is up five-fold, according to new reports.
A survey by Hiscox reported in the Independent indicated that in 2013 just three per cent of householders were improving their dwelling instead of moving.
Now, this number is at 15 per cent, with more than one in four millennials taking it upon themselves to make their house exactly how they want it and need it to be over relocating.
This is partly down to a lack of choice in the housing market, with the Royal Institution of Chartered Surveyors reporting that the number of properties on estate agents’ books has reached an all-time nadir.
Is it important that if attempting a major DIY job without hiring the professionals, that you invest in the right equipment, such as high quality Mohawk finishing products.
Home insurance spokesman at Hiscox Phil Thorn was quoted in the newspaper as saying: “The decision to improve instead of move is a new normal for homeowners whose lifestyles are evolving. People are looking at ways to adapt their existing homes to meet their changing needs, whether that’s a growing family or the beginnings of a new home business.”
He added that it is important to be realistic about timescale and finance when embarking on a big DIY project, as many people start out thinking it will cost less than it usually does, and that it will take less time than once thought, which is an important consideration when looking to add value to a home.