“Hey honey, we should definitely do a remodel!” he says. “Okay!” You respond. But then you stare off into space, thinking about that tv show you watched last night. And then you think… “But I thought it was called a renovation???”
Ha! This would not be the first time this has happened. And why? To tell you the truth, I don’t know. Maybe the term “renovation” has been over used on HGTV and “remodel” was tossed to the side because it sounded less sexy. Maybe it’s a Canadian thing. Who knows.
Moving into a new home can be stressful. Arguably, it’s actually one of the most stressful life events that we can go through. So, given the world economic climate at the moment, it’s no surprise that more and more homeowners are remaining in their homes as opposed to buying a new property.
The weather isn’t the only type of climate that is cooling in Southern Ontario lately. Recent interest hikes geared towards curbing inflation rates have seen a slowing in the rate of new projects starting in our industry, although the pace of starts for new detached home builds is still about 7.4% higher on average than the 5-year seasonally adjusted average, but still down double-digit percentages from six months ago.