Consumers are always on the lookout for ways to improve their properties. As well as the big ticket items people can get for their abodes, there are also plenty of less expensive but still highly effective products for people to purchase.
For example, homeowners can benefit from addressing a lack of storage. In the absence of effective shelving, people can really struggle to keep their rooms free from clutter. It doesn’t matter how well decorated and stylish houses and flats are, if they are a mess, they won’t look good.
Thankfully, it is now straightforward for individuals to get their hands on new bookcases, and it seems as though many people may be doing precisely this. Figures released by Sainsbury’s Bank reveal that UK consumers are splashing out on home improvements.
The firm noted that last year alone, consumers borrowed a total of £5.6 billion to enhance their properties. Over the 12-month period, 19 per cent more individuals took personal loans for home improvements than in 2011.
Meanwhile, the average sum borrowed increased from £8,792 two years ago to £9,024 in 2012.
Responding to the findings, head of loans at Sainsbury’s Bank said: “Our research shows that, year-on-year, more people are looking to invest in their property and carry out home improvements. As well as the obvious improvements to standard of living, home improvements can add real value to a property. We’d encourage those planning work to shop around to ensure they see the best possible return on their investment.”