Tembo Financial February 26, 2016 No Comments

Canadians are increasingly spending more money to update their houses over purchasing new ones. The Financial Post notes that renovation spending reached $68 billion in 2014 with expectations of growth at 3 per cent annually in 2015 and 2016. Most of this money is going into improvements rather than repairs, which proves that these renovations are for the most part, optional.

The cost of homes in Toronto and the GTA are constantly on the rise and it appears that homeowners have found it more cost-effective to do alterations on their current home rather than to purchase a new one. The Canadian Real Estate Association states that the average amount of money spent on renovations following a real estate sale was nearly $10,000 in 2013. Taking this into account, it is clear that almost any new purchase in real estate will require some form of renovations.

Whether you chose to renovate your current home or purchase a new home, Tembo Financial can help you make this process as easy as possible. With access to your money in as little as 48 hours with no appraisal and no credit check* Tembo makes your home’s possibilities endless.

*Subject to qualification.

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