First-time buyers 'spend thousands on home improvements'

First-time buyers are spending thousands of pounds on home improvements once they have moved in to their first property.

According to research by Santander Mortgages, the average first-time buyer spends more than £3,500 on home improvements after moving in.

This figure represents around three per cent of the average house price in the UK.

The money could include replacing flooring, as well as repainting walls or adding fresh wallpaper designs.

Phil Cliff, director of mortgages at Santander, said: "Many first time buyers are so focused on saving for the deposit and fees that they don't have as much as they'd like left in the bank for furniture and furnishings."

This study by Santander Mortgages comes shortly after Anne-Celine Jaeger, writing in the Guardian, offered advice to those who have moved into a small flat and wish to make it seem bigger.

She advised DIYers to paint their radiators the same colour as the wall behind them to make them blend in and make a space seem roomier.

Posted by Steve Burns

Date : 11/06/2010
Category: Flooring home improvement news