The financial crisis is seeing people focus more on carrying out home improvements, it has been suggested.
George Clarke, presenter of Channel 4 programme The Home Show and Build a New Life, states that homeowners are looking to "stay where they are and consolidate what they’ve got and add value to what they’ve got".
As the credit crunch rumbles on, he indicates that people are less interested in advancing up the property ladder but instead are looking to get the most out of their existing home.
Mr Clarke adds that moving house is currently quite an expensive process due to legal costs, stamp duty fees and other charges.
He also points out that upon moving into a new home, people will have to do work on it anyway as it will be decorated to someone else’s taste, so staying in and improving an existing home may instead be a cheaper and more convenient option.
Such comments follow a Halifax study carried out in May revealing that redecorating is the country’s most popular home improvement, following by garden renovations and adding new furnishings.
Posted by Barney Marshall