More then two-thirds (70%) of British Columbia homeowners plan to renovate or make home improvements sometime within the next two years.
Down just one per cent from last year.
The new survey, conducted by Ipsos Reid, shows that more than half
(55 per cent) plan to begin renovations within the next twelve
months. It's also very encouraging to see that B.C. homeowners are
showing such a strong interest for renovation options that reduce
their homes' carbon footprint and decrease their electrical
consumption.
The average amount that homeowners plan to spend on their
renovations is $10,064 down from last year's average spend of
$11,629. Compared with the rest of the country, B.C. homeowners were
most likely to pay for all or most of their renovations with cash or
savings (74 per cent). According to the survey, 71 per cent of those
who plan renovations during the next two years are doing so because
it will increase the attractiveness of their homes, while 42 per
cent say it will increase their home's value. Three-quarters (75 per
cent) of those polled said that if their homes were in need of major
renovations, they would rather assume the work themselves than sell
and move.
The most popular choices for renovations and home improvements
among British Columbians include the following:
New floors 37%
Bathrooms 39%
Exterior Landscaping 36%
Kitchen Counter Tops 35%
Decks and Patios 29%
Eco-friendly renovations
Three-quarters of British Columbia homeowners
(75%) would chose an environmentally-friendly approach if it would
save money in the long run, even if it costs more now. Of those
polled, 56% would consider living "off the grid" - living in a
self-sufficient manner without reliance on public utilities, while
69% would consider becoming a ‘net zero’ household, enabling their
homes to produce at least as much energy as they use. A majority of
British Columbians (73%) believe that ‘green’ home improvements
would increase the value of their home
Other facts about how BC homeowners compare to other regions in
Canada:
Most likely to cite choosing the wrong products (16%) or doing the
job themselves (17%) as their biggest past renovation mistakes,
among the most likely (69%), to have a budget for their renovations,
just behind Quebec (70%).
| Intentions Among Regions | Average Spend | |
| BC | 69% | $10,064 |
| Alberta | 74% | $12,422 |
| Sask / Man | 71% | $9,743 |
| Ontario | 71% | $12,306 |
| Quebec | 67% | $8,463 |
| Atlantic Canada | 73% | $10,042 |
| Renovate | Sell / Move | |
| BC | 75% | 19% |
| Alberta | 71% | 23% |
| Sask / Man | 75% | 17% |
| Ontario | 75% | 19% |
| Quebec | 74% | 17% |
| Atlantic Canada | 78% | 15% |
These are some of the finding of an RBC poll conducted by Ipsos Reid between August 13 and August 18, 2009. The online survey is based on a randomly selected representative sample of 3,733 adult Canadian homeowners, including 458 British Columbians. With a representative sample of this size for British Columbia, the results are considered accurate to within +/- 4.6 percentage3 points, 19 times out of 20, of what they would have been had the entire adult population of British Columbia been polled. These data were statistically weighted to ensure the sample’s regional and age/sex composition reflects that of the actual Canadian population according to the 2006 Census data.
