As we continue to stay and work at home more than ever before, there has been a shift in many things, including how we use and view our homes.  

A new report released by RE/MAX Canada showed a new trend on the motivations of homeowners when improving their homes.  The report shows how homeowners are moving away from the thoughts of renovating solely to improve the value of their home….and improving to further enjoy the living within their home.

In this survey of homeowners who completed renovations on their home in 2020, they had the following things to say: 

• More than half renovated their home with plans to stay in their home
• 29% reported renovating to improve the look of their home
• 29% reported renovating for maintenance reasons
• Only 16% reported renovating to improve the value of their home in preparation to sell in the next 1 to 3 years

Homeowners do realize, although improving their home for their comfort is here, they are still mindful to consider the return on investment. However, these recent stats say renovations to  improve their comfort, recreation or leisure aspects of their home is going strong.  

To view the whole report check out: 

https://blog.remax.ca/canadian-real-estate-renovation-trends/