Understanding The Value of Property Maintenance
As the UK’s largest property management company, we know first-hand that it takes both time and money to successfully maintain a home. We do it every day. But we understand that for most people it’s something they have to do on top of everything else. We wanted to find out more, so we surveyed 2,000 adults from across the UK about their property maintenance habits, with some surprising results.
In this report we’ve looked at what common household maintenance tasks people spend the most amount of time on and how much money they spend on them. We also looked at Britons’ least favourite tasks and why people put off the essential work that needs doing around the house.
We live in an increasingly busy society, where mounting responsibilities, work obligations and various other commitments mean our spare time is precious. Despite this, our research showed the average amount of time Britons spend on household maintenance, such as window cleaning, decoration or carrying out repairs is 114 hours a year. This means we spend 14 working days, or seven weekends each year maintaining our properties.
Respondents also estimated that they spent £700 a year on DIY tasks, which doesn’t take into account the value of their own time. Applying the average labourer rate of £10 an hour equates to an extra £1,140 for all the time and more than £1,840 when you take both figures into account.
This is important, as in times of economic uncertainty people may be increasingly reluctant to spend what can sometimes be large amounts of money on hiring professionals for issues that at the time appear to be a small problem, such as a cracked wall. This could be cause for concern as we have seen that people attempting household maintenance are DIY experts – as in Delay it Yourself. 82% of respondents admitted to putting off jobs around the house, which may lead to them turning into bigger issues and affecting their property’s value.
And for those who take the DIY plunge, there is also a risk that they could end up causing damage to their property, or – worse – to themselves. One in 10 of those that delay home repairs are put off as they are worried about damaging or devaluing their home, and nearly a third (28%) have injured themselves while maintaining their home.
At FirstPort we know that people would much rather spend their time with their loved ones, enjoying their hobbies, or relaxing rather than doing DIY. We understand that our homes are much more than just bricks and mortar, and for most of us they’re places which we pride ourselves on. That’s why at FirstPort we work hard to deliver the highest maintenance standards as well as value for money for our residents.
I hope you find this report an interesting, informative read.
Nigel Howell, CEO, FirstPort