Young adults ‘will go into debt’ to fund home improvements

Young adults are prepared to go into debt in order to upgrade their properties, a new survey has suggested.

A poll carried out by Unbiased.co.uk has found that a quarter of Britons hope to make home improvements over the coming year.

And it discovered that around five per cent of 18-24 year-olds plan to use a credit card or loan to fund the work.

Spokesperson Richard Winder urged anyone who is looking to “invest significant sums of money” into such projects to seek debt advice on “how best to finance these renovations”.

The research showed that 66 per cent of homeowners want to carry out DIY to make their houses “look and feel” how they wish.

Only eight per cent are doing it to add value to their properties, it added.

Figures from Sainsbury’s Home Insurance have revealed that 30 million Brits have done work such as plumbing or tiling personally instead of calling out a tradesman in a bid to save cash.

By Jamie Price