Would you rather spend your money on giving your living room a quick refresh rather than a super expensive, time consuming project? Apparently you aren’t alone.
In a recent survey commissioned by Norton Finance (opens in new tab), it was revealed that more than two thirds of people would rather spend their cash on creating happier, more comfortable homes instead of focusing on spending money on maintenance to increase their property’s value. When asked how long it took them to complete minor, everyday fixing tasks, the majority of respondents (63 per cent) said they would ignore these jobs for at least a month before addressing them. A further fifth (18 per cent) meanwhile would avoid the tasks for at least six months.
Apparently, we also aren’t content with just one design refresh a year. The survey also showed that nearly 75 per cent of the homeowners surveyed said that they revamp their houses at least once and year, with 11 per cent refreshing their homes and gardens over four times annually.
Even though we might think we are just making small, frequent changes to our homes, all this revamping doesn’t come cheap. Apparently building comfort still requires a significant investment. The average homeowner surveyed said that they expect to pay more than £29,000 (more than the average household income of £27,300) to decorate and renovate their way to their ideal home.
Commenting on the findings, Paul Stringer, managing director of Norton Finance says, 'For many people, purchasing a home is the biggest investment they will make in a lifetime. Continued further investment – of both time and money – is also needed to maintain a great living space for ourselves and our families. With another summer season here, home and garden improvements more readily spring to the front of our minds. However, prioritising tasks and managing budgets can be a challenge.'