Essential reading for retailers and suppliers in the home improvement market

Home improvements too expensive for over 50s

Published: 8 September 2010
More than a third of Britons aged over 50 say their house is in need of repair, with one in seven unable to afford the cost to fix it.
Home improvements too expensive for over 50s
Research conducted by Saga Personal Finance last month revealed that women in particular are suffering financially, with one in five forced to allow their home to deteriorate, as they simply cannot afford to repair it.

Saga's poll of more than 14,000 over 50s in the UK found that 16% cite roofing as the area most in need of repair, while 13% say their drainage and guttering needs fixing.

When asked how they might pay for housing maintenance, more than one in seven respondents explained that they cannot afford it. Half of the people asked said they would use their savings and almost a third said they would turn to their regular income or pension.

More worrying is that many over 50s could be cold this winter as nearly one in ten said that their heating needs mending. London homes seem to be suffering most, with 42% of Londoners in need of housing repair, according to Saga. Meanwhile, 26% of Scottish respondents are in need of roofing repair.

Saga Group executive chairman Andrew Goodsell commented: "People are living longer which means that retirement incomes have to stretch a lot further to keep up with inflation. Many retirees find they need additional cash, whether it is to make every day life easier, fund house repairs, take the trip of a lifetime, or to contribute to care in later life."

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


Do you expect to see an increase in demand for garden pest control products as the huge trend for houseplants continues?



Latest reader comments

re: UPDATE: Scotts to sell Solus brands

Lesley Bridge
for spare parts go to info@gazebospareparts.co.uk they are brilliant...

re: Tool Shop Group expands with Camden opening

Andy Nash
This is a fantastic shop, with a really impressive range of DIY materials at very reasonable prices and staff who are very knowledgeable, ...

re: Flooring Republic set for “monster growth” in UK

christine blackler
I really do wish I had read these comments before ordering my flooring. This company should be renamed FOOLINGthePUBLIC. I have been ...

re: Centurion offers retailers free age-restricted sales sign

Fiona Garcia
To claim the sign, please contact Centurion marketing manager Glynn Fox at gfox@centurioneurope.co.uk or 01302 788700...

re: Centurion offers retailers free age-restricted sales sign

DIANNE SUTTON
Hi,Please could I claim one of your free age restricted product signs for our shop.Kind Regards DianneDIANNE SUTTONBEST WISHES, 50 HIGH ...

Most read stories