Canadians see benefits of green home renos: Scotiabank

Two-thirds of Canadians say they are likely to consider making green renovations to their homes in order to make them more energy efficient or environmentally friendly, according to the results of a Scotiabank home renovations poll released October 17.

Solar panels on the roof of a detached home

Two-thirds of Canadians say they are likely to consider making green renovations to their homes in order to make them more energy efficient or environmentally friendly, according to the results of a Scotiabank home renovations poll released October 17.

The survey also found that 66% of Canadian homeowners considering these renos are likely to make the changes even if they are more costly than non-green alternatives.

“Whether you are renovating to sell or stay in your home, there is no question that eco-friendly home improvements increase its value while benefitting the environment,” said David Stafford, Scotiabank managing director of real estate secured lending.

“Green renovations typically lower your overall monthly operating costs which can free up cash to put towards paying down debt such as a line of credit or your mortgage.”

Homeowners in Manitoba and Saskatchewan are the most likely to consider green renovations (74%), followed by:

  • the Atlantic provinces (75%);
  • British Columbia (74%);
  • Ontario (68%);
  • Alberta (65%); and
  • Quebec (48%).

The most popular methods of making homes more environmentally friendly are installing ultra-low flush toilets (84%) and installing solar heating (78%).

ecrawford@biv.com

@EmmaCrawfordBIV