A new study carried out by Halifax shows what a lot of us knew already, that around twenty-five percent of DIY projects go over budget.
An astonishing GBP4.7 billion is the extra amount homeowners have to find to cover their additional costs, usually caused by underestimating the work involved and the costs associated with it. Kitchens appear to be the area where the biggest errors are made say Halifax, followed closely by bathrooms and then building extensions. The general opinion is that, because there are so many different hidden elements to these projects so the largest discrepancies are to be found here.
A Halifax home insurance division spokesman, who is an expert in this field, also added that it can be very easy to get carried away with jobs and add extra items that were not initially planned for.