The amount of money people spent on home improvements last year reached a massive £16.6 billion; the majority of this being financed by remortgaging their property or taking out a secured loan or an unsecured loan.

According to Lloyds TSB this is a £2.5 billion increase over the past decade.

But, the credit crunch has pushed more and more people into the realm of DIY as they attempt to avoid the cost getting a tradesman in.

DIY spending increased by 42 per cent in the decade to the end of 2008, while the amount of money handed over to tradesmen increased by just 11 per cent during the same period.

According to moneysupermarket.com, 43 per cent of people will not be able to afford to pay for much needed improvements to their home this Easter weekend - so even more may turn to the DIY approach in 2009.

However, as well as the fact that DIY can be dangerous if people undertake work they are not capable of completing, it could be costly.

Many won't be insured if they destroy their home when carrying out home improvements and it is usually more costly to have someone come in and fix a mistake than it is to get them to just carry out the work in the first place.

Posted 07/04/2009 13:07:45