Britons are spending £4 bn too much on home improvements , new research says.
ING Direct research highlights that inexperience and inadequate technical knowledge mean 1 project in 3 went over budget in the last three years, by £908 each.
We may be into DIY . However, we do not put aside enough time for financial planning and time planning of the projects.
As well as costing money, 4m people's building projects overrun and 1 in 20 projects overrun by three months.
We have such problems when we bite off more than we can chew.
25% of us overrun with our budget when we start, with 1 in 12 saying that they struggle to maintain momentum once the project is underway.
A third of overruns are because builders go over budget, with 35% reporting that builders take longer than promised to finish the work.
We spent £76 bn on home improvement projects in the last three years, 40% undertaken by professional builders.
The top ten home improvements are: painting/wall-papering (20%), new kitchen (16%), new bathroom (15%), extensions (8%), new floor/carpet (7%), fitting new doors/windows (6%), landscaped garden (5%), plaster of walls/ceilings (3%), loft conversions (2%) and knocking down a wall (1%)
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We Spend 4bn Too Much on Home Improvements
Mon, 03 Jul 2006
Recommended links
How To Reduce Your Property ValueWe Spend 6,000 Each on Improving Our Homes Each Year
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