Majority of Canadians expect to renovate this year
A new Scotiabank survey finds more than two-thirds of Canadian homeowners intend to renovate this year, with most cashing in their savings to fund their home improvements.
By Robert Koci
By Brynna Leslie
If you’re wondering where to focus your sales efforts in the coming months, a new survey commissioned by Scotiabank may help.
The bank found that 65 per cent of Canadians expect to do some kind of home renovations this year.
Bathrooms top the list , with 38 per cent of respondents to the Harris/Decima survey citing this is a top renovation priority in the coming months. Another 33 per cent said the kitchen needs work. A little more than a quarter of respondents intend to tackle an outdoor renovation, and 24 per cent said their basement.
And Canadians intend to use money they’ve saved to get the renovations done. Nearly three quarters of respondents said they will use cash savings for at least part of the home improvement projects.
Read more about the Scotiabank survey here.