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May 25, 2008

RENOVATIONS: Popular 2007 renos

Homeowner households in the Vancouver area expect to pour an average of $14,000 into renovations in 2008 -- the country's second highest reno budget following Toronto's, Canada Mortgage and Housing Corp. says.

Last year, Vancouver area homeowners spent an average of $14,942 on renos, CMHC says.

The five most popular reno projects across the country last year were remodelling rooms (31 per cent of homeowners), painting or wallpapering (27 per cent), flooring (26 per cent), windows and doors (19 per cent) and extensive landscaping (17 per cent).

Forty-six per cent of Canadian households said the cost of their projects last year matched what they had budgeted, while 37 per cent exceeded their budget.

(Source: Vancouver Province)


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