As you would expect there are some regional differences — after living through the property boom in London over the last 10 years, 96 per
cent of homeowners in the south east feel safe in the knowledge that their homes will continue to increase in value.
«Seventy - five per
cent of homeowners in Saskatchewan and Manitoba are preparing to renovate within the next two years, which makes this region of the country the only area where intentions are on the rise,» says Catherine Adams, vice-president, home equity financing for RBC.
Not exact matches
Nevertheless, Canada is a nation
of homeowners — nearly 70 per
cent of households own their dwelling (
in the Greater Toronto and Hamilton Area, around 120,000 owners possess more than one residential property.)
The tax is the first
of its kind
in Canada, requiring
homeowners who do not live
in or rent out their properties to pay a one per
cent levy based on the assessed value
of the home.
Tenants make less than half the median income
of homeowners in the province and the dearth
of vacancies — about 1 per
cent in the city — means rents continue to climb.
Tim Reid, the founder
of Phoenix Real Estate Investing, which works with distressed
homeowners, says the number
of foreclosure notices issued by Alberta courts
in Calgary and Edmonton jumped by about 15 per
cent from November to December, and is up as much as 40 per
cent on the year.
To put that
in perspective, the average
homeowner in Washington, D.C. — where the average per - capita income is $ 70,000 — pays about 12
cents per kWH, according to the Department
of Labor.
Almost half (44 per
cent)
of homeowners were able to pay all
of their bills and save some money
in the past year suggesting a strong correlation between homeownership and financial fitness.
Such insurance is not included
in a comprehensive policy, but a
homeowner in Ontario could add this rider for roughly 50
cents per $ 1,000
of coverage, explains Gilles Gratton, spokesperson for Intact.
Almost 7 per
cent of homeowners with a mortgage were
in extreme stress and 10 per
cent were on the threshold.
Annie Kvick, a financial planner with Money Coaches Canada
in Vancouver, says that 15 per
cent to 20 per
cent of the clients she sees are
homeowners building up additional debts beyond their mortgage.
«By keeping its policy rate at one per
cent, the Bank
of Canada has created one
of the most stable and favourable and borrowing environments for potential
homeowners in decades,» Aggarwal said.
If, a
homeowner in Ontario were to add this coverage they'd pay roughly 50
cents per $ 1,000
of coverage, explains Gilles Gratton, spokesperson for Intact.
In Canada the government offers the RESOP (Renewable Energy Standard Offer Program) that allows residential
homeowners with solar panel installations to sell the EXTRA energy they produce back to the grid at 41
cents / kWh, while drawing power from the grid at an average rate
of 20
cents / kWh.
I assume that South Korea will be able to install solar as cheaply as Germany and looking at South Korean capacity levels for solar and seeing that the cost
of money to
homeowners is about 5 %, the cost
of point
of use solar
in South Korea should be about 11
cents a kilowatt - hour.
In 2004, 14 per
cent of homeowners switched lenders when renewing their mortgage.
Eighty - two per
cent of Ontario
homeowners have donated to charity
in the last two years;
homeowners are much more likely to say they voted
in the last municipal election than renters; and 35 per
cent of owners say they have volunteered
in their community.
In the City
of Kelowna, where Albertans account for between 10 and 15 per
cent of homeowners, local leaders were «disappointed» by the changes, said Doug Gilchrist director
of community planning and strategic investment.
Renters also appear to be saying they are tired
of paying someone else's mortgage payment, with 38 per
cent planning to become
homeowners in the next two years.
The number
of high - end home sales rose by 71 per
cent in Edmonton and 38 per
cent in Calgary, fuelled largely by
in - migration
of executives
in the oil and gas sector, as well as
homeowners trading up.
Homeowners had a lower share at 17.8 per
cent of these households
in 2006, up from 16.0 per
cent five years earlier.
• Nearly half
of Ontarian
homeowners (44 per
cent) would act fast and put
in an offer if they were worried that their dream home would attract multiple offers;
The study also noted a steady decline
in the number
of homeowners who have completed renovation projects
in the last two years, with the results going to 61 per
cent in 2007 from 65 per
cent in 2006 and 70 per
cent in 2005.
And 66 per
cent of Ontarian
homeowners outside
of the GTA were more likely to offer below the asking price and leave room for negotiations compared to only 53 per
cent of those
in the GTA.
-- Only three per
cent of homeowners who renovated
in the last two years say they did not have any «renovation headaches».
In the past year, 11 per
cent of homeowners have taken out equity, which they are using to consolidate other debts (28 per
cent) and make other investments (26 per
cent).
In the space
of four months last year, the
homeowners lost a collective $ 135 million as the median house price slid 18 per
cent, a faster decline than any major market during the U.S. market crash, according to Realosophy Reality Inc..»
The amount
of equity take - out
in the past year is unchanged from last year with around one
in five
homeowners, or 18 per
cent, taking equity out
of their home, at an average
of $ 46,000.
* About one - third (32 per
cent)
of homeowners with mortgages had some mortgage activity
in 2011, with 23 per
cent renewing or refinancing their mortgage.
-- Eighty - nine per
cent of Canadian
homeowners have at least 10 per
cent equity
in their homes and 80 per
cent have more than 20 per
cent equity.
Over 40 per
cent of all mortgage holders have at least 50 per
cent of the value
of their homes
in equity, and
of all Canadian
homeowners, which includes those without mortgages, 65 per
cent hold at least half the value
of their properties, says CAAMP.
Job loss is a major risk factor for
homeowners and 18 per
cent of those surveyed indicated an individual
in their household had lost a job
in the past six months.
Despite the number
of Canadians on the move, the survey found that as many as 26 per
cent of homeowners say they were totally or somewhat unprepared for the costs and expenses that come with the first year
in their new homes.
-- Overall home equity is at 72 per
cent of the total value
of housing
in Canada; for
homeowners who have mortgages, equity level averages 50 per
cent.