Huge numbers of homeowners, such as the readers of www.homeandbuild.ie plan to make money improving their properties, a new survey shows. Some six out of 10 customers with Bank of Ireland alone say they are planning home improvements this year.
The majority of those surveyed for the bank by South Western Group will spend under €5,000, with around one in five spending more than €5,000. Smaller numbers have plans to do some big work on their homes by spending in excess of €10,000.
Decorating and exterior painting feature heavily in the responses, with garden makeovers and insulation also planned by the house-proud homeowners. Most people plan to do the work during the summer months when the weather is usually better.
The survey found that 65pc of homeowners will use a tradesman to do the work, but around a third of them will do the work themselves.
Most people who plan to spend more than €5,000 had heard of the Government’s home renovation incentive scheme. This scheme provides an income tax credit for qualifying works to repair, renovate or improve a home. And large numbers of those surveyed intend to apply for a tax credit under the scheme.
Architect and star of the RTE show ‘Room to Improve’ Dermot Bannon said that anyone planning to do up their home should do plenty of research first.
“It’s such a unique and personal experience for everyone, you want to do everything possible to make sure you’re happy with the results,” said Bannon. He also urged people aiming to spend less than €5,000 on improvements to shop around to ensure they get the best possible value for money. Source: Irish Independent