TORONTO, Sept. 29 /CNW/ - While we're not seeing solar panels and
windmills on front lawns yet, the majority of Canadians are environmentally
conscious when purchasing a new home or renovating their home, according to
the second annual TD Canada Trust Green Home Poll. The biggest incentive for
those Ontarians willing to spend more on environmentally friendly features is
the potential saving on future energy bills (64%).
"Despite a slowing economy, two-thirds of Canadians are willing to pay
more for a home that includes greener features," says Joan Dal Bianco, Vice
President, Real Estate Secured Lending, TD Canada Trust. "This number is down
only slightly from 2007, which shows that even when times are a bit tougher,
the environment is still important to Canadians."
Fifty-nine per cent of Ontarians (57% of Canadians) are willing to spend
5 to 10% more on a home that includes environmentally friendly features.
Although improving the state of the environment is an important factor,
Ontarians say that what matters most when renovating a home is saving money in
the future (44%), followed by the resale value of their home (30%).
"With the average Ontario home price at nearly 300,000, the fact that
some Canadians are willing to spend 5 to 10% more on a home with green
features is an indication that people are committed to environmental
responsibility, especially energy savings down the road," says Dal Bianco.
Almost all Canadians are making their current homes more environmentally
friendly. In fact, 93% of Ontarians have made improvements or will be making
improvements in the next 12 months. The top improvement to making their home
greener is replacing regular light bulbs with CFL light bulbs (76%), followed
by applying weather-stripping and caulking to stop drafts (57%) and replacing,
kitchen appliances with more energy-efficient models (53%). Eighty-two per
cent of Ontarians have made or plan to make three or more improvements this
year (77% nationally). Older Canadians (55 plus) are taking the most action
when it comes to environmentally friendly home improvements.
Not surprisingly, environmental friendliness in and out of the home is
key for the majority of Canadians. Results from the first TD Friends of the
Environment Foundation 'How Green Are You?' Survey, conducted in May 2008,
also revealed that Canadians take their environmental commitment seriously.
According to the poll, 93% of Ontarians report that they recycle, with 49% of
respondents stating that they recycle everything and 44% recycling when
convenient. Overall, the 'How Green Are You?' Survey found that when it comes
to being environmentally responsible, 98% of Ontarians give themselves a
passing grade (compared to 96% nationally). When asked to grade their
environmental friendliness, 27% gave themselves an "A" and 55% gave themselves
a "B." Only 1% gave themselves an "F" and said that they did not really care
about the environment.
The TD Canada Trust Green Home Poll found that nearly all Canadians feel
that the government should create initiatives to make residential construction
greener. In fact, 94% of Ontarians agree with environmentally friendly change
being brought into building codes for new buildings and 83% agree with
building code changes for renovations. Canadians are less likely to agree with
government initiatives if they directly have to pay for them. Sixty-nine per
cent of Ontarians disagree with a carbon tax for "non-green" homes.
Two-thirds of Ontarians (67%) would consider an environmental assessment
prior to finalizing their renovation plans. Of those willing to consider an
environmental assessment, 51% would pay under $400 for the assessment while
one-third would like the assessment to be free.
Many banks offer incentives for homeowners either purchasing a home or
renovating a home. TD Canada Trust has two Green Home products for those who
are planning to purchase a home or leverage the equity in their existing home.
Both the TD Canada Trust Green Mortgage and the TD Canada Trust Green Home
Equity Line of Credit (HELOC) offer a lower interest rate and rebates on
certain purchases, while giving back to the environment. The cost of a
residential energy efficient assessment is eligible for a rebate.
About the TD Canada Trust Green Home Poll
The TD Canada Trust Green Home Poll surveyed adult Canadians from across
the country, to explore the relationship between the environment and home
purchase or home renovations. The survey was conducted by Angus Reid
Strategies on July 31, 2008 with English and French speaking Canadians 18+,
using the Angus Reid Custom Express. The sample size includes 1,000 men and
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh largest bank
in North America by branches and serves approximately 17 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust; Wealth Management, including TD Waterhouse and an investment
in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth
and Commerce Bank (to be known together as TD Bank); and Wholesale Banking,
including TD Securities. TD Bank Financial Group also ranks among the world's
leading on-line financial services firms, with more than 5.5 million on-line
customers. TD Bank Financial Group had CDN$509 billion in assets as of July
31, 2008. The Toronto-Dominion Bank trades on the Toronto and New York Stock
Exchanges under the symbol "TD", as well as on the Tokyo Stock Exchange.
For further information:
For further information: Carolyn Abbass, Karen McCullough, Paradigm
Public Relations, (416) 203-2223, email@example.com,