Property maintenance proves to be expensive

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by Kay Murchie

Many Britons are hit with unforeseen household repair bills and many use overdrafts or credit cards to pay for these unexpected expenses. Property upkeep cost Britons more than any other household bills, a study has shown.

Maintenance and repairs cost £19.2 billion in the UK in 2006, which is an average of £1,206 for the 15.9 million affected.

Repairs carried out property can add value to property prices but those that are performed inadequately can drive them down significantly. Repairs and renovations to properties can be paid for with re-mortgages and may boost the value of your property investment in the long term.