Business
Published September 25, 2023, 3:06 pm ET
Buildings are seen in flood water following a major rain event in Halifax on Saturday, July 22, 2023.THE CANADIAN PRESS/Darren Calabrese
TORONTO – Homeowners in Atlantic Canada completed the most emergency repairs due to weather-related events last year, according to HomeStars’ latest renovation report.
A third of homeowners across Canada who renovated or repaired their properties in the past year made weather-related repairs, while 41 per cent of residents in Atlantic Canada specifically reported making emergency repairs, many due to catastrophic flooding.
The survey shows that 79 percent of respondents say sustainability is important when choosing building materials for renovations, while 59 percent who renovated in the last 12 months chose eco-friendly products.
Shir Magen, CEO of HomeStars, says that while inflation and interest rates are dampening overall spending on repairs and renovations, 73 per cent of Canadians surveyed still plan to do at least one home renovation in the next 12 months.
According to the report, Canadian homeowners spent an average of $12,300 on renovations last year, but spending is expected to be lower in the next 12 months, at an average of $10,264.
The survey, conducted by HomeStars, surveyed 1,105 homeowners ages 23 and older who had renovated or repaired their homes in the past year between July 20 and July 27. No margin of error can be assigned to the survey because online surveys are not considered true random samples.
This report by The Canadian Press was first published Sept. 25, 2023.
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