Despite the credit crunch and reports of falling property prices, homeowners still believe the best investment choice for 2008 is building, renovating or improving their own homes.

'Getting the builders in' beat ISAs, shares and premium bonds as the best way to make money, according to a survey conducted on behalf of the FMB Master Builder of the Year Awards 2008, the search for the best builder in Britain.

The vast majority - 60% of women and 50% of men - said home improvement was the best way to make money, more than double the number favouring any other investment.

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Less than a quarter favoured traditional products such as ISAs (23%) and only 10% rated shares. Premium bonds, lottery tickets, wine and art scarcely registered as good investments.

The most popular home improvements were new kitchens and remodelled gardens. Almost half had added a new kitchen as an investment and 40% had improved their garden as a way to make their home worth more. A third favoured adding a downstairs loo or a walk-in shower, but less than 10% deemed the much-touted conservatory a real investment.

FMB Director General Richard Diment said: "Putting money away for a rainy day is definitely sensible, but it certainly doesn't make you feel as good as getting a good builder to add an extension, which creates space and makes for a better standard of living."

(CD/JM)