TV DIY programmes fuel appetite for home improvements

With an abundance of DIY and property TV programmes on our screens, it comes as no surprise that Britain has turned into a nation of DIY enthusiasts, with three quarters (73%) claiming that TV is the place they get their inspiration for home improvement, according to new research by Alliance & Leicester Personal Loans.

The research also highlights the potential cost of improving your home, with Brits estimating that it will cost £11,833 on average for them to bring their house up to the standard or design they would want.

While the redecoration of rooms topped the list of improvements that needed to be made at home, improvements that cost thousands of pounds were also high on the to-do list of homeowners.

Top 10 most wanted home improvements:

Improvement – Percentage
1 Redecorate rooms 54%
2 New bathroom suite 43%
3 New flooring/carpeting 41%
4 Landscaping the garden 40%
5 Re-fitting the kitchen 40%
6 Redecorate the outside of the house 23%
7 New driveway 23%
8 Install/renew double glazing 21%
9 Loft conversion 20%
10 Replace guttering 18%

In terms of adding value to the home, it appears as though homeowners are quite savvy and can identify the improvements that will increase the selling price of their property. Figures from the Royal Institution of Chartered Surveyors (RICS) indicate that homeowners are right to place a loft conversion in the top spot, as this can add an estimated £10,000 to a property.

Top 5 improvements thought to add value to a property:

Improvement – Percentage - Expected Added Value
1 Loft conversion 29% £10,000
2 Re-fitting the kitchen 25% £8,000
3 New bathroom suite 11% £4,000
4 Landscaping the garden 8% £6,000
5 Double glazing 7% £7,500

Richard Al-Dabbagh, Head of Personal Loans at Alliance & Leicester, said: "TV programmes appear to make home improvements, and adding value to your home, an easy thing to do, and this has focussed homeowners' minds on improving their current home. Home improvements should make properties desirable, not only for homeowners while they are living in the house, but also for when they choose to make the most of the investment of time and money and sell.

"While redecorating rooms is a quite an easy and inexpensive home improvement, it is in fact loft conversions and new kitchens that can add the most value to a property. Homeowners who are looking to make these higher cost changes might consider taking out a personal loan to fund such improvements, but it is essential that they shop around for the best deal to suit them to make the most of their investment."

Nicholas Leeming from propertyfinder.co.uk explained: "While redecoration may not add a huge amount of value to your property in cash terms, if you're looking to sell, touching up decorations and tidying the garden can mean a quicker sale. In this market that is invaluable. There are currently fewer buyers out there so you need to make sure you appeal to everyone that walks in your door.

Nicholas Leeming added: "People are also quite right in thinking that appropriate loft conversions will add value, as will any conversions that create additional living rooms, bedrooms or bathrooms.

"If you want to add value to your home, think like a prospective buyer. They only have a short time in the home and first impressions are everything. "

For those considering applying for a loan to help pay for home improvements, or switching provider, Alliance & Leicester's website alliance-leicester.co.uk, provides access to useful tools including a handy Loan Calculator, to help people assess how much they can afford to borrow and how long they wish to spread their repayments.