While there is a lot of uncertainty in the world these days, we do know for sure that Barack Obama will be the next president of the United States. And another thing we know for sure is life keeps chugging along for Canadian homeowners. In a recent survey TD Canada Trust revealed some interesting information.
Here is the text from a press release put out by TD Canada Trust around this survey.
TD Canada Trust Homeowner Confidence Poll finds Canadians moving ahead
with renovation plans
>>
TORONTO, Jan. 19 /CNW/ – Despite the reports of economic doom and gloom,
it is life as usual for many Canadian homeowners. In fact, of those Canadians
who had renovation plans, the majority are moving forward as planned or doing
even more renovations, according to the TD Canada Trust Homeowner Confidence
Poll. Further, 92% of homeowners surveyed said that the current state of the
economy has not required them to consider selling their home.
“If you’re planning on riding out this tough economy by cocooning in the
comforts of your home, why not be comfortable in your space?”, says Joan Dal
Bianco, Vice President, Real Estate Secured Lending, TD Canada Trust.
“Renovations can be a good investment and if it means you’ll be spending more
time at home or reducing energy costs, they can also be a money saver in the
long-run.”
While 53% of Canadians said they are moving forward as planned or doing
even more renovations, many also see the current state of the economy as a
good time to consider buying a home. In fact, 63% of Canadians said they feel
this is a good opportunity to purchase a home. With traditionally higher
housing prices, those in Ontario and the West are most likely to see this as a
good time to buy (69% and 66% respectively).
“Our research shows 72% of Canadians who are thinking about putting their
homes on the market are concerned that the economy will affect their ability
to sell in the next year. The fact is, the home market has changed – it’s
become much more balanced, creating opportunities for both buyers and
sellers,” says Dal Bianco. “So, whether you’re a first time buyer or a repeat
buyer and you want to find out what your financial options are, we have
specialists who will work with you and help you figure out how to make your
ownership dreams a reality.”
Canadians were divided in their response when asked if they are taking
measures to save more (37%), or if they are planning to put more towards debt
(33%), given the current economy. Interestingly, almost one third of Canadians
said they are making no changes to their financial strategy.
So when if YOU are looking to buy real estate, its a great buyer’s market!
Call me at 416-462-1888 and let’s arrange to meet!
Sam
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