What motivates homowners to renovate their homes and what are they renovating?
According to a survey conducted by Edge Research on behalf of Houzz, the majority of Canadian homeowners who are planning to remodel are doing so to increase their home’s resale value. Nearly a quarter (24%) of these homeowners indicated that although they would prefer to move, home prices are too high so they are investing in their current home to meet their needs now and for the long term.
Bathroom and kitchen renovations topped the list of planned projects. It’s interesting that this is in line with findings by Trusted Pros, an online platform for homeowners searching for home improvement contractors, advice and ideas.
They reviewed the volume of searches and quote requests that were processed in 2014 to determine what were the most popular home renovations (or at least where the intent was). They found that in BC bathroom renovations topped the list, at 28% of the enquiries. Decks and kitchens came in at 2nd and 3rd, respectively (17% and 14% of the searches). While basement renovations came in 2nd overall in Canada, it only made 7th spot on BC, with 6% of enquiries.
Are you thinking about renovating but have lots of questions? Download our Renovation Guide – you’re sure to find the answers to most, if not all of your questions.