Making home improvements

9 June 2014

Millions of Brits are planning home improvements as they cannot afford to move, according to recent research from Lloyds Bank.
The biggest drivers for this trend are affordability and adding value to a property with 44% of those surveyed stating they have either undertaken or plan to carry out property renovations in 2014.
Homeowners between 24 and 35 were the most likely to carry out renovations due to not being able to move up the property ladder. Forty per cent of those surveyed stated that improving the aesthetic appeal of their home is a significant consideration. 

 

rc Page, Mortgages Director at Lloyds Bank, said: "With over 14 million of us opting to carry out large scale improvements, these kinds of projects are seen by many as the best way to make a house a home."

 

Millions of Brits are planning home improvements as they cannot afford to move, according to recent research from Lloyds Bank.

The biggest drivers for this trend are affordability and adding value to a property with 44% of those surveyed stating they have either undertaken or plan to carry out property renovations in 2014.

Homeowners between 24 and 35 were the most likely to carry out renovations due to not being able to move up the property ladder. Forty per cent of those surveyed stated that improving the aesthetic appeal of their home is a significant consideration.

Marc Page, Mortgages Director at Lloyds Bank, said: "With over 14 million of us opting to carry out large scale improvements, these kinds of projects are seen by many as the best way to make a house a home."

 

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