With the impact of COVID-19 and historically tight conditions across the Canadian real estate market, many homeowners have shifted their focus to home renovations and the perceived return on investment (ROI).

Our new RE/MAX 2021 Renovation Investment Report found that more than half of Canadians renovated their home last year for personal or “non-ROI” purposes, with three in 10 (29 per cent) choosing to renovate for non-essential “lifestyle” reasons, such as recreation-inspired projects. See the findings below and share the results with your clients and prospects alike.

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KEY FINDINGS:

  • Challenging Canadian housing market conditions put additional importance to home renovations since the start of COVID-19, both for those looking to stay and those selling
  • More than half of Canadians renovated their home in 2020 with the intention of living in it, with 29% renovating to enhance their lifestyle for non-essential reasons (aesthetic and/or recreational purposes) and 29% doing so for essential reasons (safety and maintenance)
  • Only 16% of Canadians said they renovated to increase the market value of their home in order to sell within in the next one to three years

 

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SOCIAL SHAREABLES:

Keep your clients informed! Click below to download these assets to share with your clients on your social media channels.

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HOW TO USE THIS REPORT:

RE/MAX Reports are distributed throughout the year and are designed to highlight RE/MAX market insights to educate the public and our network. Visit blog.remax.ca/medianewsroom/ to view the latest RE/MAX reports and news.

  • Provide a copy in your listing presentations
  • Share with your network via email or social
  • Encourage clients and prospects to view the report on social media by sharing the visual assets