Lapointe Architects has noticed an increase in the number of inquiries regarding addition and renovation projects. This is supported by imperical data. In January of this year, Statistics Canada reported that single family improvement projects (additions and renovations) were up by 24 per cent, indicating a counter-cyclical trend towards smaller home renovation projects (The Daily, Jan 26, 2009, Statistics Canada in http://www.journalofcommerce.com/article/id32225).
As is well understood, an economic recession reduces pressure on construction trades and materiasl, resulting in substantial price drops. Combine this knowledge with the recent Federal Budget announcement of a Home Renovation Tax Credit worth up to $1350, and a winfall for home owners looking to upsize without moving may be on the hoziron. In order to take advantage of the reduction in prices, homeowners should be spending the rest of the winter completing design and constructionn drawings in order to be 'shovel-ready' in the spring. Give us a call if you are considering renovating.