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Newsletter

Home improvements 'more important than holidays'

By Marianne Straker, Mon 26 Jul 2010 - Published in Home Insurance

People should be prioritising home improvements over their holidays, according to an expert.

Andrew Leech, director at the National Home Improvement Council, claimed that sales in the DIY industry tend to fall at the start of the summer because people are concentrating on their upcoming holidays.

"People are thinking about going away on holiday and not spending as much money on DIY improvements, but that is rather a negative approach because really home improvements should take priority over holidays," he commented.

Mr Leech added that in the current property market, it could make more sense for people to invest in their homes rather than spending money on an annual break.

In addition, the expert said that homeowners who are looking at ways to improve their properties seem to be concentrating on their gardens, as they realise this will allow them to enjoy the summer months more.

Recent research from Age UK found that 46 per cent of people who use equity release spend the funds on home maintenance, while 36 per cent will use it to pay for a holiday.