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2021 Renovation Inclination: Almost three quarters of homeowners are planning home improvements this year

·3 min read

TORONTO, March 29, 2021 /CNW/ - As Canadian homeowners enter another year in a worldwide pandemic full of uncertainty, one thing is clear: home renovations and repairs are more popular than ever. In a recent survey by HomeStars, almost three quarters (74 per cent) of Canadian homeowners are planning to improve their homes in 2021.

HomeStars Logo (CNW Group/HomeStars)
HomeStars Logo (CNW Group/HomeStars)

"Despite the pandemic, last year was incredibly busy for renovations as we've seen first-hand with our pros and homeowner service requests and there's no sign of it slowing down anytime soon," says Shir Magen, CEO of HomeStars. "With all this extra time at home, Canadians are investing in their spaces by making repairs, adding functionality or simply to 'spark joy' in the new normal we're living in."

Outdoor work dominates
The national survey conducted among HomeStars' homeowner base, found that the most popular projects this year will be outdoor work including landscaping and decks, with 54 per cent of homeowners planning to improve their outdoor space. In second place came bathroom renovations at 32 per cent, followed by kitchens at 23 per cent. Basement renovations and appliance repair/replace round out the top five at 17 and 12 per cent, respectively.

Mid-range budgets
In regard to anticipated spend, small repairs (those under $1,000) and large jobs over $50,000 were the least popular. The top budget ranges were:

  • $1,000 - $10,000 for 46 per cent of respondents (essentially the cost of an annual family vacation)

  • $10,000 - $25,000 for 24 per cent of respondents

  • $25,000 - $50,000 among 11 per cent of respondents

Why reno?
Twenty-nine per cent cited the reason for renovating was to enjoy their outdoor space now that they are spending more time at home. Fourteen per cent of homeowners said since they weren't spending on vacations, they would invest the money in home renovations and repairs. Only 6 per cent planned to spend money on improving their work from home and homeschooling space.

Aging in Place

When asked why they were planning on renovating, 50 per cent mentioned they were renovating their home to ensure they could age more comfortably, not surprising considering 79 per cent of respondents said they were planning on aging at home. Interestingly, the pandemic did not change this, with 70 per cent saying COVID-19 did not influence their decision to age at home.

Age-related home improvements that ranked highest in popularity was installing smart home technology at 32 per cent. This was followed by a curbless shower and walk-in bathtub, both tied at 12 per cent, followed by installing grab bars at 10 per cent.

Regardless of where Canadians are spending their renovation dollars, 2021 is shaping up to be another record year for the home improvement industry in Canada. If you're starting to plan your next project, HomeStars Cost Guides will give you a sense of what you can expect to pay. Read reviews or get matched to local pros and more at HomeStars.com.

Editor's note:
The HomeStars survey was conducted with 733 Canadian homeowners from March 2March 15, 2021.

About HomeStars:

HomeStars is Canada's largest online marketplace connecting homeowners with trusted home service professionals. In 2020, 9 million homeowners visited HomeStars looking for a pro for their next home improvement project. HomeStars was created in 2006 to help homeowners make better hiring decisions. HomeStars is based in Toronto, Ontario, and is an operating business of Angi, Inc. (NASDAQ: ANGI). To learn more, visit @HomeStars on Facebook, Twitter or Instagram.

According to HomeStars, 54 per cent of homeowners plan to improve their outdoor space. (CNW Group/HomeStars)
According to HomeStars, 54 per cent of homeowners plan to improve their outdoor space. (CNW Group/HomeStars)

SOURCE HomeStars

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