Despite cooling economy, Manitoba and Saskatchewan homeowners still hot for
renovations: RBC survey
Manitoba and Saskatchewan residents plan to spend more on their home renovations than homeowners in any other region of the country. In fact, renovation intentions in the Prairies are the highest in
"Despite an economic softening, the majority of homeowners in Manitoba and Saskatchewan are still keen to renovate and plan to significantly improve and invest in their homes," said
Among homeowners who have completed renovation projects in the last two years, the study found that 66 per cent of respondents in the region had a set budget for their renovations. Of those, 50 per cent said they went over budget, by an average of 25 per cent, the highest rate in the country. In fact, when asked about their biggest renovation mistake or disaster, "going over budget" was the most commonly cited response (27 per cent).
Renovation Tax Credit
Homeowners in the provinces are also taking advantage of the federal government's home renovation tax credit with 65 per cent of renovators planning to use the incentive and 39 per cent renovating more because of it.
Eco-friendly renovations
Manitoba and Saskatchewan homeowners are most likely to include eco-friendly home improvements during the renovations (60 per cent) and 79 per cent of renovators would choose an environmentally-friendly approach if it would save money in the long run, even if it costs more now.
The most popular choices for renovations and home improvements among Prairie homeowners include new windows or doors (28 per cent) and exterior landscaping (27 per cent). The top reasons for renovating include making the home more attractive (64 per cent) and increasing the value (61 per cent).
Renovation Intentions Among Regions Average Spend B.C. 65% $10129 Alberta 64% $12374 Sask/Man 73% $15133 Ontario 67% $12428 Quebec 65% $ 7734 Atlantic Canada 72% $12586
These are some of the findings of an RBC poll conducted by Ipsos Reid between
For full tabular results, please see the Ipsos Reid website at www.ipsos.ca.
For further information: Media Contact: Liz Redston, Media Relations, (204) 988-3516
Share this article