In July, Houzz released its annual home renovation report. Here are some of the key findings:
- Clients consulted with an average of 2.5 contractors or builders before signing a contract.
- More than half (56 percent) of all Canadian homes surveyed reported undergoing renovations in 2017, spending a median price of $16,000.
- Kitchens remain the most popular room to renovate (28 percent), followed by bathrooms at 24 percent.
- The average spend on kitchens was $3,750 for small spaces and $12,000 for any that were 90-sq.ft. or larger.
- The vast majority (80 percent) of owners are seeking cash deals. First-time homeowners are the group most likely to seek payment by credit card.