CMHC that’s Canada Mortgage and Housing Corp reports that renos are strong but with a twist. Where we used to reno to live in a home and enjoy it now folks are doing substantial renos for the sole purpose of Selling and getting a big buck for the place.
Most renos are painting, flooring and carpets, window and doors, and exterior projects such as fences, driveways, patios, swimming pools and major landscaping. Average cost of renos in Canada in 2006 was $12,431.00
CMHC reports that up to 43% of households are currently planning to renovate their homes. A very high number . You can visit www.cmhc.ca to obtain renovation planning guides and fact sheets to assist you in the planning phase of renovating your home.
$17.3 billion $ was spent on renovations in Canada in 2006. Do you think that maybe the housing industry seriously fuels our economy?