Home Renovation Canada Trends and Insights for Homeowners

Home renovation trends in Canada are shifting towards sustainability and energy efficiency. According to a recent survey, 75% of homeowners plan to incorporate eco-friendly features into their renovation projects.

Many homeowners are opting for materials with a lower carbon footprint, such as reclaimed wood and low-VOC paints. This trend is expected to continue, with 60% of respondents citing environmental concerns as a key motivator.

In terms of specific features, 45% of homeowners are prioritizing energy-efficient windows, while 35% are focusing on high-performance insulation. These upgrades not only reduce energy consumption but also increase property value.

In Canada, a renovation tax credit is available to homeowners who make improvements to their home to help people living with disabilities. This is known as the HATC or Home Accessibility Tax Credit.

The Government of Canada determines eligibility based on specific criteria, but it's not specified what those are.

To be eligible for the BC Home Renovation Tax Credit, individuals must already be claiming the federal government's disability tax credit and have been a resident of BC on the last day of the last tax year. They must also be a senior, i.e., 65 years or older.

The BC Home Renovation Tax Credit can amount to up to $1,000 per calendar year.

Renovations must be made with the purpose of improving mobility for the senior or reducing the risk of injury for the senior. Some examples of qualifying renovations include lowering countertops and cabinets, widening doors and hallways to accommodate wheelchairs, replacing knobs with lever handles, and installing walk-in bathtubs.

Here are some examples of qualifying renovations for the Home Accessibility Tax Credit in Canada:

Note that landscaping or aesthetic changes, appliance upgrades, and insulation changes do not qualify.

To be eligible for a home renovation tax credit in Canada, you'll need to meet certain requirements. The Government of Canada's Home Accessibility Tax Credit (HATC) is available to anyone who has made a home improvement to increase the accessibility of their home for a senior or a person with a disability.

The renovation must have the end goal of allowing the individual to be more mobile within their home, and must be intended to reduce the risk of harm to the individual in question. This can be a significant factor in determining the eligibility of your renovation.

You'll need to own the dwelling at least partially to qualify for the HATC. If you perform the work yourself, you can deduct the costs of your building materials, plans, and permits. If you hire a professional contractor, you can still claim this as an expense.

Here are the key eligibility criteria for the HATC:

In British Columbia, the eligibility criteria are slightly different. You'll need to be a BC resident, and either a senior over the age of 65 or a family member living with a senior, or a person with a disability or a family member living with a person with a disability.

House renovation costs can vary greatly depending on the scope of the project. A 2,000 square foot house can cost anywhere from $50,000 to $100,000 to renovate, depending on the level of renovation.

Basement renovations can be particularly costly, with project costs reaching as high as $35,000 or higher. Other spaces in the home, such as doors and windows, can also increase project costs, with new doors and windows costing between $5,000 and $10,000.

A budget of $75,000 can cover a range of renovations, including a new roof, hardwood flooring, and a completely renovated kitchen and/or bathroom. However, even with a higher budget, it may be necessary to opt for lower-quality materials or more DIY projects.

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Renovating a house can be a significant investment, and it's essential to have a clear understanding of the costs involved.

The cost of renovating a house can vary greatly depending on the type of renovations you're doing, with gutting a room and starting from scratch being one of the most expensive options.

A 2,000-square-foot house can cost anywhere from $50,000 to $100,000 to renovate, with a budget of $100,000 being a safe bet for a full renovation.

Renovating a 3-bedroom house can cost between $20,000 and $100,000, depending on the scale of the renovation.

Older homes, such as those 100 years old, can be particularly pricey to renovate, with a budget of $200,000 recommended for a full gut renovation.

A kitchen renovation can be one of the costliest endeavors, with costs ranging from $15,000 to $50,000 and up, depending on the appliances and materials chosen.

A basic bathroom renovation can cost at least $15,000, with costs increasing for structural upgrades and luxury features.

A low-end renovation, which includes cosmetic work such as flooring and paint, can be a more budget-friendly option, but still requires a significant investment, typically in the range of $20,000 to $50,000.

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A high-end renovation is often characterized by the use of high-end materials, which can drive up the cost.

Higher-end materials can include things like custom cabinetry and closets.

A full overhaul, which is more common in older homes and fixer-uppers, can also be a hallmark of a high-end renovation.

This type of renovation may include structural repairs, a complete layout change, and the addition of features like central air or a heat pump.

A new roof can also be part of a high-end renovation, and in some cases, a professional interior designer may be hired to oversee the project.

Only 51 per cent of Canadians claim to have a thorough grasp of the renovation process. This lack of understanding can lead to poor renovation decisions and a lower return on investment (ROI).

Nearly half of Canadians either don't know or disagree that they have the understanding needed to make ROI-enhancing renovation decisions. This highlights the need for education and guidance on renovation best practices.

50 per cent of Canadians surveyed said they expect their REALTOR to advise them on the right renovations to take on if they expressed interest in doing so when purchasing a home. This reliance on external professionals to guide home-buying decisions is anticipated to continue.

It's clear that many Canadians are unsure about how to make informed renovation decisions. This can be a major obstacle in achieving a successful and profitable renovation project.

Open concept living is a popular trend in home renovations, especially in Canada, where it's been a staple for years. By knocking down walls, homeowners can create spacious, flowing interiors that foster connectivity and enhance natural light flow.

This layout style is also gaining popularity in other parts of the world, promoting a sense of togetherness and flexibility in home design. Homeowners are embracing the concept of multifunctional living spaces that reflect a desire for modern, airy environments.

The open concept layout can be achieved through various renovation methods, but it often requires significant changes to the existing structure of the home. In many cases, this means removing walls and reconfiguring the floor plan to create a more open and airy feel.

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Outdoor living spaces are a popular trend in home renovations, reflecting a desire to maximize time spent outdoors and create inviting spaces for relaxation and entertainment.

Canada's natural landscapes are a major draw, with homeowners transforming their outdoor areas into functional extensions of their homes. From expansive decks to cozy fire pits, the possibilities are endless.

This trend is not unique to Canada, as outdoor living is gaining traction worldwide. Homeowners are seeking to blur the boundaries between indoor and outdoor spaces, creating seamless transitions between the two.

A mid-scale renovation in Canada can cost a pretty penny, but it's a great way to give your older home a much-needed facelift.

A mid-scale renovation typically involves a full kitchen and bathroom remodel, which can be a game-changer for any homeowner. This type of renovation is often more common in older homes with minimal issues.

Hardwood flooring is a popular choice for mid-scale renovations, and for good reason - it's durable and can add a touch of warmth to any room. The total cost of a mid-scale renovation will depend on the type of materials used, but it's often a worthwhile investment.

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A full house renovation can be a daunting task, but understanding what it entails can make the process less overwhelming.

The cost of a full house renovation can range from $15,000 to $200,000, depending on the scope of the project.

It's usually more cost-effective to start renovations one room at a time, rather than tackling the entire house at once.

Remember to factor in the cost of permits, which can be a significant expense for larger renovations.

If you hire a contractor, they'll take care of obtaining the necessary permits for you.

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A mid-scale renovation is a common type of renovation that can cost anywhere from $40,000 to $100,000, depending on the materials used and the scope of the project.

This type of renovation typically involves a full kitchen and bathroom remodel, as well as some exterior updates. It's a good option for older homes with minimal issues.

A whole house renovation can range from $15,000 to $200,000, depending on the scale of the project. This can be a significant investment, but it can also greatly improve the value and livability of your home.

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Here are some average costs for different types of whole house renovations:

Keep in mind that these are just rough estimates, and the actual cost of your renovation will depend on many factors, including the size of your home, the age of your home, and the materials you choose.