15 Jan

Home renovators 'budgeting badly'

Home renovators 'budgeting badly'

Thousands of people around the UK are underestimating how much it will cost them to renovate their own homes, according to a recent study.

In fact, research published by Halifax Home Insurance shows that almost one in four Britons who invest in home improvements find themselves with a larger bill than they had planned for.

For many people, underestimating how much home renovations can cost has seen them spending thousands of pounds more on their endeavours than they had budgeted for, the home insurance firm reports.

Martyn Foulds, senior claims manager at Halifax Home Insurance,commented: "It's interesting to see that the major reason for spiraling costs is often due to homeowners adding extras to a project half way through.

"Clearly it is all too easy to get carried away with adding more expensive fixtures and fittings as the project unfolds."

Meanwhile, the Consumer Intelligence company suggested recently that UK consumer will increasingly be turning to price comparison services to find a good deal on their home insurance.

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