Annual study snapshots renovation spending
October 4, 2023
Photo credit: HomeStars
HomeStars has released its annual Reno Report based on a national survey of Canadian homeowners who have renovated in the past 12 months, which includes an outlook into spending into 2024.
“While overall spending is down from last year, due to inflation and rising interest rates, the majority of homeowners surveyed are still planning to renovate, ” said Shir Magen, CEO of HomeStars.
The report also examines Canada’s favourite home design aesthetic, most desirable home location in the country, the demise of the fixer-upper, sustainable renovations, neighbour disputes over renovations and more.
Highlights of the survey:
Insights from survey respondent profiles:
The report includes additional findings on laneway homes, smart home features, and how trust impacts hiring contractors and suppliers, according to Toronto-based HomeStars, an online marketplace connecting homeowners with home service professionals.