Research from the Society for the Protection of Ancient Buildings (SPAB) has found that homeowners are making cautious and considerate choices when it comes to home spending and saving.
In a poll of over 1000 people, the research revealed that 49% of homeowners feel they are disciplined in only buying things that they need.
A further 36% of them said they had made deposits into a regular savings account in the last month. Nearly a third of this group claims to be saving for a rainy day.
More than half of the homeowners surveyed believe that property maintenance is one the most important factors in determining the value of their property.
People have cut back on ëfun itemsí such as desirable interior features like dÈcor and new kitchens/bathrooms. 62% of respondents believe that internal dÈcor, up to date kitchens and bathroom fittings are more important than exterior and building maintenance.
Philip Venning, Director of the SPAB, comments; “Not surprisingly, a new spirit of austerity is abroad. After years when many homeowners seemed to value style over substance it is apparent that the ëbling’ days of spending on highly visible home ëimprovements’ like state of the art kitchens and bathrooms are behind us with more of us making sober, serious decisions about where our money really counts.î
ìMany people can tackle straightforward things like checking and clearing blocked gutters and drains themselves, but equally, our annual campaign is a timely reminder that, sometimes, calling in a professional to fix roof tiles or broken guttering can save money in the long run.”
Once way you could keep up with home maintenance is by ensuring that you have up-date home insurance cover. As the winter approaches, the building could be at risk of damage and so it is worth checking your building as well as contents insurance.
Compare home insurance with Money Expert.