The importance of looking after your deposit when buying a new kitchen.
Homepage > Articles > The importance of looking after your deposit when buying a new kitchen.
Monday, October 24, 2011
I am sure you must have noticed in the press recently stories of people that have paid deposits of hundreds, sometimes thousands of pounds for their new kitchen only to find out they have lost everything when the firm they engaged has folded before starting their work, taking their money with them. It seems especially unfair at the moment given how hard it is today to save and have funds available for home improvements like fitting replacement kitchens. Several high profile names have failed in recent months leaving people to face financial hardship as a result of losing their money and however common these stories become we should not stop being surprised and saddened when we hear about them.
However it is the case that in spite of rising household costs and inflation some people have been able to save money for their new kitchen thanks to their hard work and low interest rates! With the housing market so uncertain a new kitchen remains a great way to invest in your property whilst improving one of the most used living spaces in your house. Improving your home with a new kitchen is a significant outlay and being able to save money in these tough times is difficult enough without having to worry about whether it is actually safe to spend the money! The recent bad press concerning these business failures and loss of people’s deposits means you could be forgiven for being reluctant to part with any money at all! However this financial fear shouldn’t be an issue. If you are prepared to do some research into the contractor you choose then for or anyone wanting to invest in a new kitchen loss of deposit shouldn’t be a concern.
If a contractor is part of the Deposit Protection Scheme administered by the Consumer Protection Association (CPA) then this gives you tangible evidence of a form of security that can help put your mind at ease. There is no need to gamble with your hard earned deposit. Look into the guarantee that the contractor can offer you. A new kitchen supplier would, quite normally, expect a deposit from you of up to 25% in order to secure the work being carried out in your home. A little research on your part can ensure that you can give this deposit with peace of mind.
Recommendations, testimonials, references are all things which you should still look for to back up the credibility of the firm you choose but one other vital thing to look for is a firm that can guarantee the safety of your deposit. If a company has taken the time and trouble to protect their credibility, and your money, by becoming part of such a scheme they should be very happy to tell you all about it.