Polish up 53 billion

Norway is in Europe when it comes to renovation. PHOTO: Sara Johannessen / SCANPIX

We spend more money than ever on fixing up the house.

Aftenposten reported on Monday that we are restoring our cabins for 9 billion each year. But we also use more money than ever to polish up our homes.

“In 2010, it is likely that Norwegians are using 53 billion kroner on renovations. It is historically more” said Truls Vasvik the Forecast Center to Adresseavisen.

Maintains property value

According to a research firm it runs about 35 billion, or 66 percent of the renovation money for necessary investments to maintain the value of homes, reports said.

The financial crisis put a damper on some people’s purchasing power. Over the last two years refurbishing numbers were down.

The decline was not as large as we had expected, and this is probably because a home holds a special position in Norway, says Vasvik.

Self-Perceived

Professor of Sociology at NTNU, Shaft Tjora, stresses that our homes not only act as an investment or residence. They also tell a little about who we are and how we will appear to others.

The property is part of our self-perception. This is one of the reasons we like to invite people home.

“We love the friends and comments on clever solutions or nifty color choices at home” he said.

In Europe the top

According to statistics of the network Euroconstruct Norwegians are still at the top in European renovation.

This opinion of Tjora is because of both climate-wise, economically and culturally determined.

The weather helps us spend much more time at home, and then of course we like to have something good around us. That we have plenty of advice in relation to our neighboring countries, have much to say for how much money we spend on fixing up.

Source: Aftenposten