Since most people love their homes, many will choose to do home improvements if given the chance. In fact, according to an article from RealtyTimes.com, expenditures on home renovations are at their highest levels in years:

canadian revolution spend

“Two recent reports suggest that while residential renovation is poised to slow down during the next few years due to higher interest rates and a more stable real estate market, spending will still continue to increase. Scotiabank economist Adrienne Warren says two per cent growth in inflation-adjusted expenditures is likely. TD Economics expects growth to be closer to three to five per cent this year and in 2014, followed by a “modest” dip in 2015.

“That said, the $45 billion in total renovation activity expected in that year will still be more than double its level of a decade ago,” says TD Economics.

The TD paper, written by economist Diana Petramala, says during the 1900s, home renovations accounted for about 25 per cent of total residential investment but now that share is almost 40 per cent.”

This trend is likely to carry over to Calgary, one of Canada’s most affluent cities. Renovations can update a house’s aesthetic appeal by incorporating the latest trends and construction materials into the design. Furthermore, rooms can be converted into more functional spaces, such as when a spare room is turned into a home office or when basements are transformed into home theaters. Home renovations in Calgary are also sound investments since they increase a property’s market value, especially when it comes time to sell.

Of course, renovations don’t have to end with just one room. Pinnacle Group, a Calgary home renovation expert, can give your entire house a makeover, transforming it completely. As such, owners can once again experience the joys of living in a new home without a change in address or neighborhood.

(Article Information and Image from CANADIAN RENOVATION SPENDING WILL STAY STRONG FOR YEARS, Realty Times, November 04, 2013)




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