New buyers struggle to furnish home
Updated on 02 November 2007
Six out of 10 new homeowners have spent so much money getting on to the property ladder that they cannot afford to decorate and furnish their new home.
Around 35% of people said they only had enough money left to do some repainting once they had moved in, while a quarter of people claimed they could not even afford to do this, according to a survey carried out by insurer More Than.
At the same time Britons spend an average of just £972 a year furnishing their homes, the equivalent of only £19 a week.
Four out of 10 homeowners also admitted they would rather spend money on high-tech gadgets such as laptops and widescreen televisions, rather than essentials such as beds and kitchen equipment.
Half of people said they thought the increasing number of identical new build property developments were making UK houses characterless.
While 48% thought the problem was being made worse by home improvement television shows, which were encouraging the same decorating trends.
Mike Holliday-Williams, managing director of More Than, said: "Britain was once the place of cosy country cottages and quirky towns and cities.
"However, due to a housing shortage we are witnessing a new generation of development, where houses and apartments are increasingly standardised both inside and out.
"The impact on the average homeowner is two-fold. Firstly, finding a unique property is more costly and difficult and secondly it often means that the new owners will have to spend more time and money personalising their homes to their own tastes."
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