More than half of UK homeowners don’t set aside any money to cover the costs of unexpected home repairs or DIY, according to research by home assistance provider HomeServe.
Almost one in 10 admitted, however, they’re spending more than £2,000 a year on tackling essential household jobs.
It has been revealed that homeowners (23%) are having to dip into other savings, take out credit cards, loans or payday loans or borrow from family and friends to fund often basic repairs to boilers, leaking taps, dripping shower heads or dealing with pest problems.
The study of more than 2,000 UK homes also revealed that, on average, UK homes spend £469 every year on essential repairs to their homes.
For around 7%, that figure reached more than £2,000, although many more (some 30%) are spending less than £100 a year.
When asked to list the home repairs that caused most worry in their homes respondents’ top three were boiler and gas-related repairs (45%), plumbing and drainage problems (34%) and damaged water pipes (24%).
It was also noted that when it comes to taking on common DIY and home repairs, both men and women are equally happy to complete these taks, with men spending 24 hours and women spending 20 hours on average on home repairs and improvements every year.
Bryn Hamer, HomeServe Membership’s Customer Director, commented: “As DIY season begins in earnest this Spring, we know that many homeowners will take on the challenges of DIY fixes and repairs themselves this year.
“For many, this might be because they don’t have money set aside specifically to manage life’s little problems when they strike. For others, it’s about relishing the challenge to get stuck into those jobs and repairs they’ve put off over the colder, winter months.”
Bryn concluded: “As a nation we’re prepared to roll our sleeves up and give many DIY problems or simple home repairs a go ourselves, and we hope the suite of new self-help How-To videos we’re producing with support many with that. But when things get a bit sticky then homeowners know we’re always here to help!”
To help homeowners tackle a series of simple jobs around the home, HomeServe is currently developing a series of simple “How-To” videos, which will launch in the next few weeks.
