04 Apr
Posted by Allison Thomas as Corporate Finance

Over a third (39%) of Britons plan to carry out home improvements themselves over the next twelve months due to financial problems. Yet, nearly one in five (14%) of homeowners will cause £344 of damage because of DIY disasters.
The research from Santander Insurance UK shows up to 72% homeowners will attempt work themselves to save on costs; 20% more than last year. Yet, over half (52%) say they would not feel confident in knowing how to go about a simple task, such as unblocking their drains.
Financial tightening is causing an increasing number of people to try their hand at DIY. 20% of DIY homeowners will attempt to cut down on home improvement costs this year.
Miguel Sard, Chief Executive, Santander Insurance UK said:
“This is traditionally the season when homeowners would take time out to beautify their home or make essential repairs.
“With budgets across the country being squeezed, homeowners are instead attempting to do the work themselves.”
The most destructive group of people to attempt DIY and fail are 18 to 34 year olds whose bill for the damage will average at £2,497.
While building regulation that says that electrical work in the home should be carried out by a government-approved electrician, 47% of people will still attempt to fit a new plug socket or light fitting.
Miguel Sard, added:
“This is the point at which basic DIY becomes a health and safety risk.
“When it comes to the electrics of the house or major construction work, it is just not worth taking the risks.”
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