Renovation Spending

Renovation Spending

According to CMHC’s recent Renovation and Home Purchase survey:

  • 1.9 million households (42% of homeowner households), surveyed in 10 major centres, indicated they completed renovations last year  This is a slight decrease from the 2.1 million households that completed a renovation in 2009.  The average cost of renovations was $12,972.
  • Almost $23 billion was spent on renovations in 2010 across the 10 major surveyed centres.  The majority of homeowner households renovated to update/add value or prepare to sell.
  • 39% of homeowners  indicated that they intend to spend $1,000 or more by the end of 2011.

Leave a Reply

Your email address will not be published. Required fields are marked *