#HomeLove – At Home Renos

#GoodReads – At Home Renos via Canadian Real Estate Magazine.

“Canada’s housing market caught fire in mid-2020 and that spurred more than half of the country’s homeowners to renovate their existing abodes either to remain in place or to sell, says a new report from RE/MAX.

The RE/MAX 2021 Renovation Investment Report, which involved a survey conducted by Leger Marketing, found 29% of Canadian homeowners also renovated their homes last year to aesthetically improve their homes, while another 29% undertook renovations for essential reasons, like safety and maintenance. Fifty-nine percent of respondents were cognizant of the additional value a renovation would provide their homes…

The RE/MAX report also noted that in Ontario, from Kingston to London, listings sold quickly in 2020, regardless of their renovation status. Most renovations focused on outdoor upgrades.

A separate report recently released by Sotheby’s International Realty Canada demonstrated that home renovations bolstered price gains in the luxury segment of the housing market. The most common types of renovations, according to the report, involved outdoor spaces with gardens and landscaping, patio and deck upgrades, outdoor kitchens and dining areas, outdoor theatres, waterfront docks, and personal sports facilities, like pools and ball courts and children’s play amenities. Indoor upgrades typically involved kitchens, home offices and the addition of personal fitness areas and theatres…”

To read the full article, click here.