Spending money on
home insurance and undertaking DIY projects is more likely to result in a profit than buying a brand new property, it has been claimed.
In the opinion of Wayne Hemingway, designer, co-founder of HemingwayDesign and chair of Building for Life, many people have been wrongly informed that buying houses and then selling them a few decades later results in a substantial money gain.
He believes that society is to blame for promoting the idea that "bricks and mortar is the passport to the future".
Instead, homeowners should view their house as a place which they can make their own and enjoy as they grow old, he continued.
Mr Hemingway explained: "If you had bought a brand new home off a house builder in 1970 and sold it on top of the market in 2006, you would have earned more money by putting that cash in the bank."
The Royal Institute of Chartered Surveyors has revealed that buyer interest increased in March.
Any DIY accidents can be covered by home insurance from
InsureandGo.
