By June 17, 2013 Read More →

Half of UK homeowners say their home needs repairs

house1
  • Half of homeowners (7 million) admit their home is in need of some repairs
  • The most common problems include broken fences, mould/damp and overgrown gardens
  • But more than half of people who need repairs can’t afford the necessary work

7 million homeowners say their home is in need of some repairs, according to new research* for mortgage and loans broker Ocean Finance – but with money still tight for many people across the recession-hit UK, more than half can’t afford the necessary repair work.

In a survey of UK homeowners, around 49% said their home could do with some repair work. Of those, 32% said they needed to fix fences and boundaries around the home, while 30% need to repaint the building. Worryingly, one in four (26%) have problems with damp or mould, which could pose a risk to their health.

But of those who said their home needs repairs, over half (54%) simply can’t afford it – meaning their home could fall into further disrepair until they can afford to do something about it.

On the other hand, 40% said that they either haven’t had time or haven’t got round to it, while 24% need to find someone else to do the work.

Most common household repairs

Repairs needed %
Fences/boundaries need repairing 32%
Outside of the house needs painting 30%
Exterior windows need painting/repairing 27%
Damp or mould 26%
Areas need replastering 26%
Blocked gutters need cleaning/repairing 26%
Overgrown garden 23%
Brickwork needs repointing/chimney repairs 16%
Doors that don’t shut or lock 15%
Rotten woodwork 13%
Missing or damaged roofing 13%
Leaking pipes or roof 11%
Electrics need rewiring 11%
Problems with drains 7%
Cracked glazing 7%
Other 9%

Ian Williams of Ocean Finance said: “It’s easy to let small repair jobs mount up, and before you know it you have several different jobs that are going to cost a lot to fix. For that reason it’s usually worth taking care of problems as and when they come up.

“Keeping on top of maintenance around the home is vital to protect the value of your property.”

Posted in: Mortgages

About the Author:

Danny Wilson is an expert on all aspects of personal finance and has worked in the industry for long enough to know better....

Comments are closed.