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Canadian Economist Gregory Klump names soaring real estate prices as a major contributor to the increase in home renovations seen in recent years. Many folks simply can’t afford to purchase their dream home and so they choose to love the one they’re (stuck) with. As a result, renovations are increasingly sought by homeowners looking to invest in their quality of life at their current home.
Homeowners Invest in Quality of Life
Big money is being put into home renovations. In 2016, the average renovation in BC cost $15,522, with over $71 billion spent total in the year prior. This trend isn’t slowing anytime soon; renovation spending is expected to increase by 2.8 percent in BC during 2017.
Money spent on home renovations is making a shift from kitchens and baths to the great outdoors. In 2016, 13% of all home renovations in Canada were deck renovations. People want to enjoy their home and for an increasing number of Canadians, this means creating more enjoyable outdoor space.
Deck Renovations Are Booming
Deck renovations and landscaping are attractive options for homeowners. A deck can easily increase living space by hundreds of square feet and offers a healthy return on investment of up to 90%. If you’re looking to invest in your quality of life with a renovation, find a great contractor to walk you through your options and budget.
Citywide Sundecks is the top decking contractor serving the lower mainland of BC. Call 604-SUN-DECK for more information and to schedule a free estimate.