TORONTO, Oct. 29, 2008 (Canada NewsWire via COMTEX) -- RY | Quote | Chart | News | PowerRating -- Ontario homeowners are showing more enthusiasm for home renovations, according to a new RBC survey. The poll, conducted by Ipsos Reid, found that 71 per cent of Ontarians surveyed plan to renovate within the next two years, just above the national average of 70 per cent and up five percentage points from 2007. Of those polled, 75 per cent said that if their homes were in need of major renovations, they would still rather assume the work themselves, than sell and move.
"Despite the current economic uncertainty, we can expect to see a moderate increase in renovation activity in Ontario over the next couple years," says Catherine Adams, vice-president, Home Equity Financing. "For those making renovation plans, it's important to carefully consider all the potential costs involved, obtain quotes, look for the best financing options and set a realistic budget that you'll be able to stick to."
Among homeowners who have completed renovation projects in the last two years, the poll found that 67 per cent of respondents in Ontario had a budget for their renovations. Of those, 46 per cent said they went over budget, by an average of 25 per cent. In fact, Ontarians were more likely than homeowners in other regions to say going over budget was their biggest renovation mistake or disaster (28 per cent). Despite budget overages, the majority of Ontarians (72 per cent) are likely to pay for most or all of their renovations with cash or savings.
The average amount that Ontario homeowners plan to spend on their renovations is also up over last year from $10,489 to $12,306 - well above the national average of $10,853 and just shy of Alberta ($12,420) which has the largest average budget spend in the country.
The most popular choices for renovations and home improvements among Ontarians include new floors (42 per cent), bathrooms (40 per cent), and exterior landscaping (36 per cent). Kitchen counter tops (30 per cent) and decks and patios (26 per cent) were also among the most likely makeover choices.
Eco-friendly renovations
More than three-quarters of Ontario homeowners (78 per cent) would choose an environmentally-friendly approach if it would save money in the long run, even if it costs more now. Of those polled, 56 per cent would consider "living off the grid" - living in a self sufficient manner without reliance on public utilities, while 67 per cent of Ontario homeowners would consider becoming 'net zero' household, enabling their homes to produce at least as much energy as they use. The majority of Ontarians (78 per cent) believe that 'green' improvements would increase the value of their home.
<< Intentions among Regions Average Spend ------------------------ ------------- Ontario 71% $12,306 BC 69% $10,064 Alberta 74% $12,422 Sask/Man 71% $ 9,743 Quebec 67% $ 8,463 Atlantic Canada 73% $10,042 Renovate or Sell/Move --------------------- Region Renovate Sell Ontario 75% 19% BC 75% 19% Alberta 71% 23% Sask/Man 75% 17% Quebec 74% 17% Atlantic Canada 78% 15% >>
These are some of the findings of an RBC poll conducted by Ipsos Reid between August 13 and August 18, 2008. The online survey is based on a randomly selected representative sample of 3,733 adult Canadian homeowners, including 1,423 Ontario residents. With a representative sample of this size for Ontario, the results are considered accurate to within 2.6 percentage points, 19 times out of 20, of what they would have been had the entire adult population of Ontario been polled. These data were statistically weighted to ensure the sample's regional and age/sex composition reflects that of the actual Canadian population according to the 2006 census data.
Wednesday, October 29, 2008
Monday, October 27, 2008
Incomplete home renovations
Incomplete home renovations
Hard-up developers are giving up on unfinished homes, meaning a tidy profit for the next buyer
Susan Emmett
Pen y Bryn sits in a beautiful spot in the wilds of North Wales. Set in a bowl of rolling hills, with stunning views, it is an ideal location. Yet the condition of the property, which looks like a cross between a medieval castle in ruins and the remains of an old mine, is less than attractive.
It could be perfect – if only the work were complete. Sadly, the credit crunch and the banking crisis have taken their toll on the owners, Paul Hilton, 42, a sculptor from Liverpool, and his wife, Harpal Rai, 39, a fashion buyer. They cannot afford to finish the job.
“There is a huge amount to do,” Hilton says. “In the current market, there is no incentive to spend money I haven’t got finishing the place. Something has got to give.”
The couple’s mounting debt – they are also trying to sell their permanent home – means they cannot continue with their ambitious plans or dream of moving to a house in the country any time soon. They have had little choice but to call in the estate agents. The property is for sale at £350,000: still considerably more than they paid for it, but nothing like what they had hoped for.
www.the-reno-coach.com
Hard-up developers are giving up on unfinished homes, meaning a tidy profit for the next buyer
Susan Emmett
Pen y Bryn sits in a beautiful spot in the wilds of North Wales. Set in a bowl of rolling hills, with stunning views, it is an ideal location. Yet the condition of the property, which looks like a cross between a medieval castle in ruins and the remains of an old mine, is less than attractive.
It could be perfect – if only the work were complete. Sadly, the credit crunch and the banking crisis have taken their toll on the owners, Paul Hilton, 42, a sculptor from Liverpool, and his wife, Harpal Rai, 39, a fashion buyer. They cannot afford to finish the job.
“There is a huge amount to do,” Hilton says. “In the current market, there is no incentive to spend money I haven’t got finishing the place. Something has got to give.”
The couple’s mounting debt – they are also trying to sell their permanent home – means they cannot continue with their ambitious plans or dream of moving to a house in the country any time soon. They have had little choice but to call in the estate agents. The property is for sale at £350,000: still considerably more than they paid for it, but nothing like what they had hoped for.
www.the-reno-coach.com
Thursday, October 23, 2008
How to Work Best with Your Renovation Coach
How to Work Best with Your Renovation Coach
By:Reiner Hoyer
Remodeling in Toronto is an exciting and rewarding experience. There are a lot of beautiful homes and apartments ready and waiting to accept a makeover!
The hardest choice is where to begin and then how to fit all the project components together to ensure you are completely happy with the outcome - within your desired time frames and within budget.
Remodeling may come easy to you and you may complete your project quickly and on budget. Or you may be like the rest of us and have a great plan, but no idea about how to begin to initiate the process - have you ever thought about hiring one of the highly qualified Renovation Coach in Toronto?
The thought of hiring someone to do something you think you should be able to do yourself is sometimes a little difficult, but how can a Renovation coach in Toronto help you?
Well to begin with, the job of a Renovation Coach is to act as a 'middle man', they find the best contractors available to do the particular job you need completed. General contractors are responsible for finding you the best most qualified contractor available that will help you to complete your dream remodeling project.
So you have decided to use some of your budget to access the services of a Renovation Coach to help you to complete your dream project, you need to get the best results for your money - but how?
The first thing you will need to remember is that you have to be ready to be completely open and honest with your communication. You will be relying on this person to achieve maximum results for you and you need to develop trust early in the relationship.
There are a number of things that you can do to establish a trusting relationship. You may begin to research the availability of good Renovation Consultants in Toronto with friends and family or perhaps at work. If people can recommend someone the next obvious step is to view their work, either in person or by looking at photographs, and then discuss in detail the overall professionalism of the Renovation Coach to get a better understanding of their work ethic. If you don't know anyone who has accessed the services of a Renovation Coach in Toronto, then do your own research, look for someone who specializes in the projects you require, set up a meeting with them and view their work.
The next thing you should do (if you haven't already) is confirm your plans. What do you want to achieve for your space, how much money do you have to spend and what time frames do you have in mind. Without these basic decisions, your project will either not begin or will end up costing you a lot of money and time!
Ensure you have details about the size of the space you want to change, information about your building and any building permits or local regulations that you need to abide by. Do the research! Make it easy for your contractor and put together a book of ideas full of your favourite materials, fabrics, colors and fittings! Take photographs of existing spaces that friends and family live in, visit art galleries to get a better idea of colors and textures, and really research thoroughly what you want.
A good Renovation Coach will help you to access sub contractors and products quickly and easily, and will be worth the money so that you can spend more time worrying about other things in your life. In saying this, however, verbally stress the importance of your budget and time frames - you don't want to spend more money than you need to.
Renovation Coaches have so much knowledge and access to the latest products, materials and technologies, try not to get too carried away with what they offer. Be really clear and upfront with all items that will potentially cost you money, no matter how attractive they appear. Hiring the services of a Renovation Coach has the potential to make your life stress free for the duration of the intended remodeling project.
If you embark on your project with a positive attitude, have a clear understanding of what you want and need, stick to your budget and time frames and maintain an open level of communication with your contractor you will be happy with the end result.
The Reno Coach
By:Reiner Hoyer
Remodeling in Toronto is an exciting and rewarding experience. There are a lot of beautiful homes and apartments ready and waiting to accept a makeover!
The hardest choice is where to begin and then how to fit all the project components together to ensure you are completely happy with the outcome - within your desired time frames and within budget.
Remodeling may come easy to you and you may complete your project quickly and on budget. Or you may be like the rest of us and have a great plan, but no idea about how to begin to initiate the process - have you ever thought about hiring one of the highly qualified Renovation Coach in Toronto?
The thought of hiring someone to do something you think you should be able to do yourself is sometimes a little difficult, but how can a Renovation coach in Toronto help you?
Well to begin with, the job of a Renovation Coach is to act as a 'middle man', they find the best contractors available to do the particular job you need completed. General contractors are responsible for finding you the best most qualified contractor available that will help you to complete your dream remodeling project.
So you have decided to use some of your budget to access the services of a Renovation Coach to help you to complete your dream project, you need to get the best results for your money - but how?
The first thing you will need to remember is that you have to be ready to be completely open and honest with your communication. You will be relying on this person to achieve maximum results for you and you need to develop trust early in the relationship.
There are a number of things that you can do to establish a trusting relationship. You may begin to research the availability of good Renovation Consultants in Toronto with friends and family or perhaps at work. If people can recommend someone the next obvious step is to view their work, either in person or by looking at photographs, and then discuss in detail the overall professionalism of the Renovation Coach to get a better understanding of their work ethic. If you don't know anyone who has accessed the services of a Renovation Coach in Toronto, then do your own research, look for someone who specializes in the projects you require, set up a meeting with them and view their work.
The next thing you should do (if you haven't already) is confirm your plans. What do you want to achieve for your space, how much money do you have to spend and what time frames do you have in mind. Without these basic decisions, your project will either not begin or will end up costing you a lot of money and time!
Ensure you have details about the size of the space you want to change, information about your building and any building permits or local regulations that you need to abide by. Do the research! Make it easy for your contractor and put together a book of ideas full of your favourite materials, fabrics, colors and fittings! Take photographs of existing spaces that friends and family live in, visit art galleries to get a better idea of colors and textures, and really research thoroughly what you want.
A good Renovation Coach will help you to access sub contractors and products quickly and easily, and will be worth the money so that you can spend more time worrying about other things in your life. In saying this, however, verbally stress the importance of your budget and time frames - you don't want to spend more money than you need to.
Renovation Coaches have so much knowledge and access to the latest products, materials and technologies, try not to get too carried away with what they offer. Be really clear and upfront with all items that will potentially cost you money, no matter how attractive they appear. Hiring the services of a Renovation Coach has the potential to make your life stress free for the duration of the intended remodeling project.
If you embark on your project with a positive attitude, have a clear understanding of what you want and need, stick to your budget and time frames and maintain an open level of communication with your contractor you will be happy with the end result.
The Reno Coach
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