Energy bills are biggest worry to homeowners
04/08/2014
Energy bills are the biggest worry to European homeowners, ahead of rent and mortgage repayments, a survey of 17,000 households has revealed.
The survey on attitudes to home improvement, which was conducted by DIY retail group Kingfisher, revealed that 31% of European homeowners intended to introduce measures to cut their energy bills.
This means that energy efficiency is now the biggest priority among European households, which is particularly surprising, as it was one of the lowest priorities in 2012 when only 4% of homeowners held the same attitude.
Sir Ian Cheshire, chief executive at Kingfisher said “There is a staggering increase in the number of people who intend to prioritise energy efficiency”. He also continued to claim that “soaring bills” are the main reason for the shift in attitudes.
“People want more and more from their home”
The survey also suggested that as the cost of living increases, people desire more from their home.
Sir Ian Cheshire expanded on this by saying: "These days, our homes need to be an office, an entertainment hub and a multi-generational living space."
These comments were backed up as it was also revealed that 77% of Europeans feel their home needs adapting, and 22% need to create more space. Additionally, 46% of European homeowners have, or would like, a home office.
The most desirable home features were also found to be swimming pools, as 28% of homeowners said they would like one. Other desirable features included a fireplace (26%), a conservatory (23%) and a hot tub (22%).
Those in the UK are the fifth most likely to attempt to carry out these home improvements themselves, and the most likely to purchase DIY products online.
However, whilst those living in the UK appear to be proactive in carrying out DIY home improvements, nearly a quarter of recipients claimed that they couldn’t change a light bulb.
Need financial advice?
If you have any personal finance questions, then please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.
Share this..
Related stories
Will front-line services be hit by council budget reductions?
While a number of councils in the UK have decided to cut their back-office spending in order to try and maintain front-end services there is no doubt we will see cost savings and reductions in front-line services in the short to medium term. There is no way that councils in the UK can afford to spend the same money on frontline services as they have in the past. The problem for UK voters is the...
Read MoreDo budgets really work?
There are two basic types of people in the world, those who budget and ensure that there money will see them through and those who spend when they want to and hope for the best. In the good times both strategies can work but in the bad times the need to budget has never been more vital. Keeping a close eye on what is coming in and what is going out will let you plan ahead and try to avoid any di...
Read MoreIs it safe to research products on the Internet?
The Internet has become a vital element of the UK financial arena and offers the opportunity for immediate access to deals, offers and financial products which may not otherwise have been visible to you. However, many people fall into the trap of assuming that because new products and new services are detailed on the Internet there is no need to take financial advice. Oh how very wrong they can be...
Read More'Tackle bill defaults or miss out on cheaper energy', site warns
Homeowners have been urged to tackle defaults on their energy bills or risk missing out on the chance to make savings in future. Under existing rules, customers who fall behind with their payments for gas and electricity are prevented from switching provider. This means that they could miss the chance to secure a cheaper deal from an alternative energy provider. Sean Gardner, founder of MoneyExper...
Read MoreScottish government warns of power cuts
The Scottish government has this week stepped forward to warn the Scottish population of potential power cuts in the short to medium term due to the very dry weather currently sweeping the nation. It is not a well-known fact, but 20% of Scottish energy comes from renewable sources such as solar, wind and wave power compared to just 5% for the UK as a whole. While it is unlikely that large areas...
Read More