New research from LV=, one of the UK’s largest home insurers, shows that new British homeowners spend £978,979,213[i] on home improvements including painting walls, changing flooring and renovating bathrooms in the first year of living in a new house.
The research found the average cost per household is £1,122 – the cost of a couples’ break to the Caribbean for a week or a family of four stay at Disneyland Paris[ii]. However, this bank holiday weekend – when many people will be turning their hand to sprucing up the house – insurer LV= is warning this cost can rise significantly if DIY ‘tryers’ (or D-I-Tryers) get caught out by home maintenance mishaps.
According to the research of 3,000 people, the top three changes homeowners make to their properties in the first year are painting walls (£17,255,003)[i], changing flooring (£101,262,548)[i] and renovating bathrooms (£82,820,525)[i].
LV= also lists some of the most common things people should watch out for when attempting DIY this weekend:
LV= is offering customers 25% off when they apply online for home insurance. For more information visit https://www.lv.com/home-insurance.