The Canadian DIY and home improvement market is substantially smaller than the American market, but is still experiencing a healthy level of growth. In 2018, the retail sales of hardware and home renovation product stores amounted to approximately 38.52 billion Canadian dollars. Ontario is home to the highest number of building material and supply stores, and home improvement centers in Canada, at 2,262 and 570 locations respectively in 2019. Of these home improvement centers, 88 were Home Depot stores in 2018. Home Depot is the top home improvement retailer in Canada, generating around 8.5 billion Canadian dollars in sales in 2018. Lowe’s is another major player in the Canadian home improvement market, with 31 stores operating in 2011, and over twice that number operating in 2018.
The amount of time and money one is willing to spend on home improvement and renovations depends on a variety of factors, including the level of confidence in one’s own workmanship, the amount of disposable income, and the difficulty of the task at hand. The average Canadian homeowner is willing to spend around 11,000 Canadian dollars on home renovations as of 2018. Some eight percent of Canadian homeowners had spent over 20,000 Canadian dollars on home renovations in the past year, as of April 2019.
Skimping out on more expensive building materials might seem like an easy way to save money, but many homeowners rethink the decision when they consider that the cheaper materials might not look very good or last as long. Opting for more expensive materials is the top reason for Canadian homeowners to go over budget in their home improvement plans. The kitchen is the most popular interior home remodeling location among Canadian homeowners, followed by the guest bathroom.
