Can't Build? Renovate

By 250 News

Before and after shot of a renovated living room

The home renovation market remains very strong in B.C.

A new survey by  RBC /IPSOS Reid indicates 70% of the people surveyed  in B.C. ( second only to  the prairies at 75%) say they plan to  do renovations  over the next two years and  of that number 58%  say they will start those projects within the next  12 months.   According to RBC’s 2007 Renovation Survey, B.C. homeowners expect to spend an average of $11,629 on their renovations and bathrooms (39 per cent) and kitchens (37 per cent) remain the most likely targets for makeovers. The average renovation expense is expected to be $11,629 in B.C.

At left,  a kitchen area in an older Prince George area home, "before", while at right, the same area "after" the renovation

“I’m fairly certain British Columbians will continue to see dated kitchen and bathroom sinks being thrown out with the trash or the recycling for some time to come,” noted Kevin Lutz, manager, Mortgage Specialists for B.C. “Renovation intentions are down in most parts of Canada, while they have actually increased here.”

•  Most likely, along with Saskatchewan and Manitoba, to use the internet for inspiration (25%)
•  Most likely to pay for renovations without any cash or savings (7%)
•  Most likely to turn to a home improvement show for inspiration (28%) along with residents of the Prairies and Ontario
•  Most likely, along with Ontarians, to hire a contractor to perform home renovations (42%)
•  Most likely, along with Ontarians, to renovate to make home easier to sell (13%)
•  Most likely to cite the quality of the workmanship as the biggest renovation headache (14%)
•  Most likely to sell their home and move if their home needed major renovations (25%)                                                                                                                                  

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