Now that summer has arrived, many are thinking about taking some time off work to relax, or possibly plan a getaway.
But for many, the warm weather brings on plans to spruce up or renovate their homes, specifically the yards.
A new CIBC poll finds 37% of Canadians plan to work on their home over the next couple of months, and will spend, on average, just over $13,000. That’s nearly $1000 more than 2015.
As for the work being done, 42% plan to focus their efforts on landscaping, including patios and decks, and 54% plan to do some basic maintenance.
However, it appears indoor renos aren’t the priority: 33% will renovate their bathrooms and 26% plan to re-do their kitchens. The numbers were slightly higher last year.
The majority of homeowners say they are worried about going over budget, but only about a third say they’ve actually costed everything out first.
“The poll findings show that Canadians are focused on outdoor projects. Spending more on the outdoors may not necessarily be the first option when it comes to return on investment, however you should never underestimate the value of curb appeal. If you’ve already taken care of the big hitters inside the home and have the renovation funds, why not turn your attention to outdoor projects?” – Scott McGillivray, host of HGTV’s Income Property.