fbpx

Should I renovate to stay or go?


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/

 

Heidi Brown

Sales Representative

Direct: 416-898-4565

Escarpment Realty Inc., Brokerage

1595 Upper James Street, Suite 101 

Hamilton, ON, Canada L9B 0H7

The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner. 

powered by WEBKITS