DIY and home improvement projects contribute to people seeing their property as an emotional investment and render them less likely to want to move out, according to Aviva.
Research by the insurance firm has shown that 68 per cent of Brits view their house as a personal part of their lives where they can relax and not simply a money-making product that they can sell. In addition, the report revealed that 72 per cent prefer to spend their leisure time there.
Dr Paul Keedwell, expert in environmental psychology at Cardiff University, devised a system to work out the total emotional added value people have invested in their homes, with DIY contributions making the most difference.
"We have acquired an emotional added value to our homes determined by home improvements, happy times with loved ones, personal belongings, mementos and inclusion in the local community," he said.
A recent study by Lloyds TSB Insurance found that more than 11 per cent of homeowning Brits – 3.2 million – carried out a serious home renovation project in 2008.
Posted by Barney Marshall