Canadian Press | July 21, 2014 | Last Updated: Jul 21 9:02 AM ET
While most Canadians want to be debt free, those carrying mortgages feel more comfortable owing money than previous generations, according to a survey.
Some Reno Recovery Rates
As predicted, the Bank of Canada recently announced it will maintain its overnight rate at 1% - allowing variable rate mortgage holders to, yet again, breathe easy.
There are two main reasons to renovate your home. 1) You are needing more functional kitchen and updated appliances, the bathroom needs to be refreshed and you can’t stand that ugly carpet anymore and would like hardwood floors installed. 2) You want to live there for awhile and if you need to sell you want to add value in the hopes of getting top dollar. If you’re anything like me, and watch HGTV home reno shows religiously, you may already feel like an interior designer! But there are factors we need to consider before we get started.