Ongoing renovation boom

HomeStars released its third-annual Reno Report which surveyed Canadian homeowners who had renovated since the beginning of Covid-19. The findings published in this 2021 report were surprising and contrary to popular media reports. It was widely believed that pandemic lockdowns had influenced the types of renovations homeowners took on – like better work, education or enjoyment spaces. However, more than two-thirds of respondents (68 per cent) said that Covid-19 did not influence their decision to renovate, with the top motivation being to improve the overall aesthetics in their homes.

“While extra time at home and unused vacation budgets have undoubtedly contributed to this ongoing renovation boom, we were surprised to see that homeowners weren’t making changes for their new reality,” says Shir Magen, CEO of HomeStars. “Despite a worldwide pandemic that contributed to major material shortages and price increases, we’ve seen the demand for home improvement continue to grow.” HomeStars is Canada’s largest online marketplace connecting homeowners with trusted home service professionals.

While the 2020 Reno Report found that outdoor renovations led in popularity, this year there was a distinct shift to indoor renovations. Of the Canadian homeowners who completed renovations during Covid-19, 94 per cent took on indoor renovations while 66 per cent of respondents did outdoor renovations. The most popular indoor job was interior painting, followed by installation of new appliances.

Canadian homeowners have continued to spend on renovations and most (81 per cent) had the cash on hand. For homeowners planning to renovate in the next twelve months, they expected to spend, on average, the same amount of money as those who renovated since the beginning of the pandemic. This applies to both indoor and outdoor renovations.

Among respondents, the overwhelming majority (80 per cent) indicated that sustainability is important to them when choosing building materials and making renovation decisions and 56 per cent used green products, with energy efficient appliances taking the top spot. But it was more than the environment that homeowners were passionate about, as creating a smart home was also high on the list. Two thirds (68 per cent) of respondents shared they have at least one smart home technology device - the most…