Yet nearly one-third of homeowners are unprepared financially for repairs
TORONTO–(BUSINESS WIRE)–The fourth annual Service Line Warranties of Canada (SLWC) State of the Home survey dealt a double dose of bad news. Seventy-six percent of Canadians reported having a home repair emergency in the prior 12 months and nearly 30% reported that they had $500 or less or nothing at all set aside for home repairs.
Most homeowners are familiar with the trials and tribulations that go along with owning a home, including the inevitability that a home repair emergency will happen at some point. This reality is supported by the findings of SLWC’s latest State of the Home survey, showing that home repair emergencies are happening more frequently.
- Although down from last year’s peak of 80%, more than three-quarters of Canadians reported having had one or more home repair emergencies in the past 12 months.
- The most common repairs were related to appliance failure or repair (29%) and heating, ventilation and air conditioning (HVAC) systems (26%); followed by a blocked or overflowing sink (19%); a blocked or overflowing toilet (18%); and leaking water pipes (17%).
- Nearly 30% of Canadians have $500 (6%) or less (9%) or nothing (12.5%) set aside for a home repair.
DIYing Home Emergency Repairs?
The survey also explored which home emergency repairs respondents say they’d hire a professional to take care of and which they would tackle themselves.
- When it comes to DIYing household repairs, many respondents prefer to get a professional’s help. This is especially the case when it comes to home emergency repairs related to a home’s air conditioning or heating system or water supply line. 92% of the respondents prefer to have professionals handle a heating or air conditioning repair and an overwhelming majority (90%) prefer to have professionals replace a water supply line.
- The trend continues with water heaters and electrical wires with 89.5% of homeowners sharing they’d prefer a professional to install a water heater and 70% of homeowners would rather a professional check their electrical wiring.
- On the other hand, 82% feel confident in their ability to install a new showerhead, 75% in installing a new light fixture, 60.5% in installing a new kitchen appliance and 57.5% in installing a new faucet.
Preparing for Seasonal Temps – Highs and Lows
We also asked Canadians what they are doing to prepare their homes for colder temperatures ahead.
- About 27% said they aren’t taking any measures to prepare their homes for winter.
- The steps that homeowners are taking to prepare for the cooler months ahead include fixing leaks around windows and doors (34.5%); tuning up their furnaces (31%); and installing smart thermostats (18%).
- Losing heat (29%) was Canadians’ greatest concern, followed closely by pipes freezing or bursting (24%) and losing power (22%), far outstripping being sick (11%) or being snowed in (5%).
We also wondered what Canadians did over the summer to keep their homes cool and comfortable as temperatures continue to climb in Canada.
- Only one-in-ten (9%) said they had done nothing to prepare for the summer heat.
- The most popular ways to ward off the heat was avoiding heat-generating activities, such as cooking, during the hottest part of the day (43%) and turning off electronics when they weren’t being used (39%). Canadians also had their air conditioning tuned up or filters changed (34.5%), switched to LED lights (28%) or installed window or portable AC units (19.5%).
- During the summer, Canadians’ biggest worry is severe weather (32%), with losing their air conditioning and losing power coming in at 20% each. Trailing behind was being sick (14%) and vacation plans being cancelled (7.5%).
Methodology
This survey was conducted Sept. 12, 2024, by Service Line Warranties of Canada, using SurveyMonkey Audience. The survey received 704 responses from adults in Ontario age 18 and older, of which 380 (54%) were homeowners. The sample of respondents was balanced by gender and region. For more on the SurveyMonkey Audience panel, please visit: https://www.surveymonkey.com/market-research/data-quality/.
About Service Line Warranties of Canada
Service Line Warranties of Canada (SLWC) is part of HomeServe, a leading provider of home repair solutions serving 4.7 million customers across North America since 2003.
Launched in 2014, SLWC is the trusted source of utility line protection programs in Ontario as recognized by the Local Authority Services, part of the Association of Municipalities on Ontario (AMO). SLWC is also a corporate partner of the Federation of Canadian Municipalities.
Together with HomeServe, SLWC is dedicated to supplying best-in-class repair plans and delivering superior customer service to consumers through over 1,200 leading city, municipal and utility partners across North America.
Contacts
Mike VanHorne
Service Line Warranties of Canada
Phone: 647-325-7614
Email: [email protected]
