Homeowners eye green renos

Two-thirds (66%) of Canadian homeowners are likely to consider making their home more energy efficient or environmentally friendly by making green home renovations, according to a recent Scotiabank Home Renovations Poll.

Read: Majority of homeowners plan renovations

Of those likely to consider green home renovation options, 66% will do so even if they were more costly than non-green options.

Quick Facts:

• Canadian homeowners in Manitoba/Saskatchewan are the most likely to consider green renovations (76%) followed by the Atlantic provinces (75%), British Columbia (74%), Ontario (68%), Alberta (65%), and Quebec (48%).
• Canadian homeowners in Manitoba/Saskatchewan (74%) are the most likely to consider green renovations even if they are more costly than non-green options, followed by Alberta (70%), British Columbia (67%), Ontario (67%), the Atlantic provinces (62%), and Quebec (58%).
• Two thirds (65%) of Canadian homeowners agree that green renovation choices will lower the operating cost of their home in the long run.

Read: Homeowners to spend $15k on renovations

• Half (52%) of homeowners agree that green renovation choices will increase their home’s value.
• Eight-in-ten (78%) homeowners are likely to consider green products for a big renovation such as installing solar heating, while slightly more (84%) would choose green products for a small renovation such as installing ultra-low flush toilets.
• Homeowners in Manitoba and Saskatchewan are the most likely to consider smaller green renovation options (91%), as well as bigger green renovation options (83%).
• The top sources of inspiration for green home renovations are television programs (36%), family, friends, and neighbours (30%), home renovation stores (29%), and the internet and social media (29%).
• The primary barrier to green home renovations for Canadian homeowners is cost (56%).

Read: Young clients take on risky home renovations

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.