New research by home insurer LV= shows the recession has driven many UK homeowners to take on complex home improvements themselves, in a bid to increase the value of their home.
It claims that over the last few years as many as 4.05 million homeowners have undertaken electrical jobs without professional help, 3.3 million have attempted plumbing work and 1.35 million have carried out structural work such as removing walls.
900,000 have tried their hand at major building works, such as loft conversions, and 450,000 have tackled potentially dangerous gas repairs.
According to the LV= survey, many homeowners admitted undertaking these works in an attempt to improve the resale value of their homes. However, the effects of doing these jobs badly can reduce the sale price of a property by more than 5% in some cases, LV=claims.
John O’Roarke, managing director of LV= home insurance, said: “With house prices falling or stagnating in some parts of the UK
