With the bank holiday approaching an increasing number of Britons will be looking to carry out some DIY work.

However, as a Cornhill Direct study reveals Britons spend an average of £1,400 a year on renovation projects, a total of £90,000 going towards DIY over a lifetime may mean budding Handy Andys and Lawrence Llewelyn-Bowens may be advised to pick up the phone to take out a home improvement loan before laying their hands on brushes and tools.

But with findings by Churchill Home Insurance indicating that 51 per cent of adults claim they are not very good at DIY using part of a home improvement loan to purchase adequate content insurance could be advised.

The research suggested that Britons caused some £2.6 billion worth of damage while carrying out DIY projects last year.

And as the average accidental damage claim costs about £540, those without adequate home insurance could find themselves developing debt management difficulties following a DIY disaster.

Head of home insurance for Churchill Martin Scott said: "Householders who have elected to include accidental damage cover under their home insurance policy have the added reassurance that they are covered if a DIY accident causes damage in the home."

The study also revealed that although a fifth of consumers are to spend this Easter weekend doing home improvement work, 51 per cent of adults admit that they are not very good at it.

Director of insurance for moneysupermarket.com Richard Mason added: "While most projects are straightforward, over 200,000 people are taken to hospital each year after DIY disasters."

However, once a DIY project has been complete, consumers may be interested it is likely to bring more than aesthetic appeal to their homes.

Mr Mason advised that as improvements, such as a new bedroom or kitchen, can add thousands of pounds to the value of homes, borrowers should ensure that their property is accurately re-assessed.

General manager of the Building Cost Information Service Andrew Thompson commented: "With any work on your home it’s crucial to make sure it will be beneficial and add value."

However, he reminded consumers to consider the costs of safeguarding against fire risks and redecorating expenses into projected spending of their home improvement loan for DIY projects.

Senior personal loans manager for Alliance & Leicester Richard Al-Dabbagh added that although converting loft space into an extra bedroom can add some £100,000 onto the price of a house, those looking to make an even greater profit should look to take out a personal loan.

He commented: "If you are looking to undertake a sizeable home improvement, there will be a massive temptation to simply take out a further advance on your mortgage.

"But a personal loan could represent a cheaper alternative for those who can afford higher monthly repayments over the shorter term."

Meanwhile, Edward Simpson, head of public affairs at the Finance and Lending Association, added taking out a secured homeowner loan to finance a DIY project can be "an investment" for many Britons.

He said: "Because of the huge increase in house prices, people are tending towards investing in their own property – be that in touching it up or the building of extensions, because that’s a much cheaper option than going [into] the housing market."

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