Centura Tile, North America’s premier distributor of both residential and commercial floor and wall fashions, is commenting on a recent CIBC poll insisting that Canadians are ready to up their renovation spending in 2014.
Conducted by Neilsen, the poll suggests that homeowners are ready to crack open their wallets to the tune of nearly $20,000 on upgrades, repairs, and renovations. That marks a near-30% increase from last year’s total of around $15,000. British Columbia is leading the spending charge, ready to part with over $28,000 in renovations, while anxious Ontarians are second to dig into their pockets with an estimated $23,000 in projected renovation spending. (Source: “CIBC Poll: Renovation Nation? Canadians say they'll spend almost 30 per cent more on home renos in 2014,” Yahoo! Finance, March 27, 2014; http://finance.yahoo.com/news/cibc-poll-renovation-nation-canadians-080000148.html.)
“We’re seeing more and more homeowners commit to extensive renovations,” says Ross Keltie, vice president of sales and marketing at Centura Tile. “With the strength and stability of the housing market, particularly in Ontario, it’s certainly a safe investment.”
The 40% of Canadian homeowners planning to renovate this year also makes the renovation market more exciting. Keltie notes that homeowners are now more intelligent than ever when it comes to repairs or renovations and usually have a clear picture of how they want their homes to look and what it takes to make that happen.
“That intelligence is reflected in 57% of homeowners intending to spend most of their renovation funds on basic home maintenance. Upkeep is important to the value and overall aesthetic of a home,” Keltie adds. “And staying true to most predictions, the kitchen and bathroom are still the top investments, making them the safest bets if homeowners want to see a return on their investment; refurbished kitchens and bathrooms can yield returns of up to 100% on the initial investment cost.” (Source: Ducas, I., “Return on renovation costs: How much will you get back?” Style At Home web site; http://www.styleathome.com/homes/renovating/return-on-renovation-costs-how-much-will-you-get-back/a/882, last accessed April 25, 2014.)
“With kitchens and bathrooms still central to the value of a home, finding ways to implement tiles correctly becomes that much more important,” Keltie concludes. “Centura Tile brings nearly a century of experience to Canadian homeowners in providing them with uniquely styled, top-brand selections of floor and wall tile materials. And as responsible retailers, Centura Tile keeps their prices competitive and offers eco-friendly products.”
Centura Tile is the premier distributor of both residential and commercial floor and wall fashions throughout North America. Founded in 1933, Centura Tile has grown from a single location in Toronto to 14 locations coast-to-coast; each with a full showroom and warehousing facilities. Each Centura Tile location carries an extensive range of floor and wall products, such as ceramic tile, porcelain, mosaics, stone, vinyl, rubber, carpet, laminate, and hardwood from leading manufacturers around the world. Centura Tile also has the most complete range of accessory products to compliment any installation, including bases, treads, mortar, grout, engineered cements, adhesives, trim systems, and tools. To learn more about Centura Tile, visit the company’s web site at www.Centura.ca or call 1-416-785-5151.