Canadian Real Estate Renovation Trends (2021)

Canadians invest in home renovations to improve quality of life, not to add value in current Canadian real estate market

Challenging Canadian housing market conditions put additional importance to home renovations since the start of COVID-19, both for those looking to stay and those selling

More than half of Canadians renovated their home in 2020 with the intention of living in it, with 29% renovating to enhance their lifestyle for non-essential reasons (aesthetic and/or recreational purposes) and 29% doing so for essential reasons (safety and maintenance)

Only 16% of Canadians said they renovated to increase the market value of their home in order to sell within in the next one to three years

A new report by RE/MAX Canada is shedding light on shifting consumer trends in home renovations and the perceived return on investment (ROI), as impacted by COVID-19 and historically tight conditions across the Canadian real estate market. The RE/MAX 2021 Renovation Investment Report found that more than half of Canadians renovated their home last year for personal or “non-ROI” purposes, with three in 10 (29 per cent) choosing to renovate for non-essential “lifestyle” reasons, such as recreation-inspired projects.

https://blog.remax.ca/canadian-real-estate-renovation-tren…/

Canadian Real Estate Renovation Trends (2021)

Canadians invest in home renovations to improve quality of life, not to add value in current Canadian real estate market Challenging Canadian housing market conditions put additional importance to home renovations since the start of COVID-19, both for those looking to stay and those selling More tha…

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2019 Recreational Property Report Canadian Millennials’ interest in recreationa…

2019 Recreational Property Report

Canadian Millennials’ interest in recreational property ownership is higher than ever.

The RE/MAX 2019 Recreational Property Trends survey conducted by Leger finds that the majority of Millennials (56 per cent) are in the market to purchase a recreational property.

Key findings:

40 per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property.

30 per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank highest at 33 per cent, compared to Boomers at 28 per cent.

More than half (54 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up to two hours, 24 per cent saying they would travel two hours. Slightly less (22 per cent) are willing to travel three or more hours.


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Canadian Seniors Are The Only Demographic Seeing Higher Mortgage Delinquencies

Balancing out the statistic is a lower rate of Millennials turning delinquent, making the stat appear like a wash.

Canadian Seniors Are The Only Demographic Seeing Higher Mortgage Delinquencies

Canadian mortgage delinquencies haven’t moved much at the macro level. The rate of delinquencies is 0.30% for Q3 2020, flat from both the previous quarter and last year. It’s a little elevated since the 2018 lows. However, it’s generally stable, even considering the pandemic. Breaking these nu…

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Canadian bank now offering mortgage rate of under 1%

HSBC posted on Friday the availability of a variable rate of 0.99% over a five-year closed term, which is being offered to high-ratio, insured mortgages with a down payment of under 20% of the purchase price of the home.

Canadian bank now offering mortgage rate of under 1%

HSBC posted on Friday the availability of a variable rate of 0.99% over a five-year closed term, which is being offered to high-ratio, insured mortgages with a down payment of under 20% of the purchase price of the home. The provided annual percentage rate is based on a $200,000 mortgage.

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Real estate is one of the few sectors showing strong growth in Canadian economy

The real estate market continues to march strong.

Real estate is one of the few sectors showing strong growth in Canadian economy

Worries remain as the rebound in the Canadian economy slows in August but there is one area that is going gangbusters: real estate. Business analyst Michael Campbell joined us on Global News Morning with more.

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Canadian mortgage rates are the lowest in history. Can they go any lower?

Canadian mortgages rates are at a record low, but should potential home buyers lock in rates right now or will rates go any lower?

Canadian mortgage rates are the lowest in history. Can they go any lower?

Not by much, but yes, rates will go lower is the answer from several analysts citing the Bank of Canada’s policy, competition among lenders, seasonal factors and the pandemic’s impact on the economy.

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Canadian Personal HELOC Growth Rate Nearly Triples In A Month

Canadians are back to using their homes as ATMs.

Canadian Personal HELOC Growth Rate Nearly Triples In A Month

Canadians are back to using their homes as ATMs. At least they were, during the first month of the pandemic. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by home equity reached a new high in March. The record is less surprising than the annu…

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