As homeowners’ finances start to feel the pinch, many homeowners are delaying home maintenance projects in a bid to save money.
Analysis from insurance comparison site Gocompare found that almost a third of homeowners have put off home maintenance and decorating, while over a fifth have delayed fitting a new kitchen.
Phil Paterson-Fox, Gocompare.com’s head of home services, commented: “In the current economic environment it is a good idea to review your finances and cut back on unnecessary spending – but it is important that in order to save money now, you don’t make false economies. For most of us, our home is our most valuable asset, so when making cut backs you need to ensure that it is adequately protected.
“Homeowners need to think carefully about the maintenance jobs they are putting off. While it may be ok to delay cosmetic redecorating jobs, essential repairs should not be ignored. Delaying structural repairs – a leaking roof for example, may lead to more damage and a bigger bill for repairs in the long-run than if it is dealt with promptly.”
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