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DIY television shows are clearly striking a chord with Australians, with more than 40 per cent admitting they are planning to renovate their property over the coming months.
Speaking about the findings from the 2013 Homeowners' Intention Survey, Mortgage Choice’s Belinda Williamson said that of those looking to renovate, over 77 per cent regard this as a means to improve their quality of living.
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"While renovations can potentially increase the value of a property, our survey results show that the purpose for many Australians is to improve their lifestyle by customising their home to suit them," Ms Williamson said.
"This lifestyle focus was further highlighted by the fact that of those Australians intending to renovate, 15 per cent were looking to renew their outdoor entertainment area first. This was among the top three most popular areas to renovate and followed upgrading the kitchen and bathroom at 28 per cent and 27 per cent of respondents, respectively."
The survey also revealed that of those intending to renovate, 54 per cent are planning major cosmetic renovations such as retiling or replacing cupboards, while 27 per cent are planning major structural changes including changing the layout of the home and 19 per cent are planning minor cosmetic changes like a coat of paint.
