2022-07-04

Canadians taking on residence renovation initiatives to increase lifestyles: report

1 min read
 

Did you complete (or at minimum commence) a property renovation job all through the last year?

A the latest report from RE/MAX Canada identified that a substantial amount of Canadians have undertaken a house-improvement venture considering that the onset of the pandemic.

In accordance to the results, 29 for every cent started renovations to improve their way of living, although 29 per cent began renovations for essential motives–this sort of as safety or upkeep–and only 16 for every cent did it to maximize resale value.

Nevertheless, even though most took on projects for factors other than resale price, 59 for each cent reported they generally take into account the return on expense these projects will have on their home’s value.

“The idea of the household as an financial investment continues to be an significant consideration for Canadian property owners however, they evidently price the dwelling for what it is meant to be: a location to live and love investing time,” Elton Ash, regional government vice president for RE/MAX of Western Canada, said in a news release.

“The pandemic has motivated pretty much every factor of our life, together with what Canadians want and have to have in a property. The uncertainty also compelled quite a few sellers to shift to the sidelines or renovate their house to accommodate present-day excellent-of-lifestyle needs, which has further tightened current market situations,” he continued.

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