Most of the landowners in Canada are planning on having their homes renovated and repaired rather than having to move or relocate to another place. CIBC did a survey that exposed that the typical spending would be about $11,800, which is the least for three years with regular home repairs and adorning up the most prospective jobs.
More than 50% of the homeowners are intending on refurbishing their homes other than moving to a different place. They plan on having their homes repaired and improved. Scott McGillivray, a well famous real estate investor, television icon and contractor, said; “These findings show that the decision to either refurbish or relocate, comes down to your financial situation, emotional attachment to your home, and ultimate real estate goals,”
About two thirds of the homeowners will have to use some money from their savings to have their renovations’ bills settled off. A 10% of them will take out loans or cash with help from their credit lines, 8% will pay through their credit card and 7% will do so by means of HELOC.
J C Loum