Thousands of pounds spent by first time buyers

Eager and excited first time buyers are spending a small fortune on home improvements. Many get caught up in the excitement of their first home that they often spend a lot of money redecorating or buying furniture for their new pad. Research has shown that around £3,500 is spent on their new property, around 43% is spent on a new sofa compared to 41% of which is spent on a new bed. They do not however forget about the kitchen with 34% on average being spent on buying new appliances such as microwaves and toasters.

The recession does not seem to be preventing first time buyers from spending money on their first property investment, in fact they spend around twice as much as what would have been spent I n the 1970s. Current findings have also shown that buying a new home and doing such improvements are not necessarily being done with a partner in toe as more people than ever are climbing the property ladder alone. Approximately only 29% of people nowadays wait until they are married to purchase their first property which means the majority of people only have one salary to carry out such home improvements.