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CREB May 30, 2013: Nearly Half Of All Canadian Homeowners Planning To Renovate

Half of Canadian Homeowners Plan to Renovate
 
 
 
It’s the season of home renovations and according to the Scotiabank Mortgage Landscape Study, 46 per cent of Alberta homeowners are planning significant renovations to their home in the next two years.
 
Albertans are the second most likely of all Canadian homeowners to have a major reno project planned, ranking only behind the Atlantic provinces where 47 per cent of homeowners planned to renovate.
 
The majority of all Canadian homeowners planning to renovate (93 per cent) said they knew how they finance their project, with the top financing sources being cash savings (62 per cent) and a line of credit (29 per cent).
 
The top rooms Canadian homeowners say they would most like to renovate were kitchens (33 per cent), followed by bathrooms (16 per cent) and basements (16 per cent).
 
“From painting a room to replacing your kitchen, financing a renovation should be based on your goals with budget and timeline being key to the whole process,” said David Stafford, managing director of Real Estate Secured Lending at Scotiabank. “The top three things to remember are understand what you can afford, have a budget and stick to your plan.”

4 Comments to CREB May 30, 2013: Nearly Half Of All Canadian Homeowners Planning To Renovate:

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Run off insurance on Friday, September 20, 2013 3:46 AM
Hey there! Someone in my Myspace group shared this site with us so I came to take a look. I’m definitely enjoying the information. I’m bookmarking and will be tweeting this to my followers! Excellent blog and fantastic style and design.
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Real Estate Investment in Massachusetts on Friday, October 18, 2013 1:31 AM
Well, The fall season is traditionally a busy time for home renovations. As Canadians finalize their reno plans and projects, many will be focusing on projects that will add the most value to their home.
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Lipozene on Sunday, August 03, 2014 4:12 AM
nice website
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Weight Loss on Friday, August 08, 2014 2:01 AM
Always has really good posts and topics please keep it up! loads of blogs are going under lately from lack of new posts etc
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