Canadian Homeowners Bulletproof Resale Value Despite Uncertain Economic Times
July 30, 2008

While unstable economic conditions threaten to shoot holes in the value of houses across Canada, the proven ROI of home improvement has made HandyCanadian.com a top resource for owners seeking to bulletproof the resale price of their properties with the help of local contractors. 

Canada (The Canadian Press) July 30, 2008 -- “There’s a renovation boom in Canada and the driving force is the knowledge that renovations deliver enhanced equity in a property,” says entrepreneur Max Sheppard who, with partner Michael Taylor, founded of HandyCanadian.com, Canada's largest online matching service for homeowners and contractors.

“It’s been demonstrated time and again that renovations performed by qualified, licensed service providers can dramatically increase the asking price and the selling price of a property despite economic conditions,” adds Taylor.  “And local contractors have the specialized, regional knowledge that can help homeowners save on their projects substantially.”

“The key is finding the right local contractor,” emphasizes Sheppard.  “That’s why HandyCanadian.com features a free, searchable database of service providers that ranks contractors based on consumer feedback. Our goal is to increase home values, keep homeowners happy, and rid the world of sub-quality service providers.”

To ensure that homeowners find contractors that are a good fit for their needs, HandyCanadian.com offers a broad spectrum of tools that consumers may use to expand their knowledge base.  “One of our most popular resources is the area devoted to selecting and working with a contractor,” says Taylor. 

“Selecting and Working With A Contractor from Start to Finish” covers the basics such as how to select the right contractor, getting quotes, contracts, and payment arrangements.  “We have a section with tips on how to avoid potential problems,” reports Sheppard, “but we’ve also made sure to cover what homeowners need to do should those problems arise.”

Hand-Built By and For Canadians
HandyCanadian.com is the flagship of a growing Handy ‘fleet’ that includes other region-specific websites designed for Americans and Australians.  It was developed by its two-man executive team who relied on their “28-year’s collective experience in website/program development and business management, with strong marketing skills,” says Taylor.

The site hit the ground running in January of 2006 and quickly established itself as Canada’s largest contractor-to-consumer matching service.  Sheppard attributes the success to the site’s innovative, automatically generated program with custom job posting and matchmaking capabilities.  The broad-based nature of the site allows homeowners with varying budgets to find the service providers who are able to meet their needs.

Million Dollar Baby
In just 18 months, HandyCanadian.com has seen, “over 2 million visitors, 2660 contractor members, $203,524,000 in posted projects,” reports Sheppard.  “With thousands of home and garden articles, as well as ‘tip sheets’ and discussion areas, our site is a premiere source for finding reliable contractors and/or home improvement advice for do-it-yourselfers.” 

“People who use our site often tell how surprised they are to find so many qualified local who are truly eager to take on their projects,” notes Taylor.  “It’s not uncommon for homeowners to receive several responses from our contractor members within just an hour of posting their needs.” 

Everybody’s Doing It
Across Canada, first-time home buyers, growing families and especially Baby Boomers with paid-off mortgages, are customizing their homes.  In national averages, the Canadian Mortgage and Housing Corp. (CMHC) found that 40% of homeowners aged 18-34 are looking to personalize their own castle.  “That number increases to 45% when you look at homeowners who are over 40,” notes Taylor. 

As reported in the Calgary Herald in April, Statistics Canada found that renovation spending grew by 8.3 per cent from November to December 2007 to $9.2 billion, up from the same period in 2006.  “The numbers are not surprising in light of the proven ROI on home improvement,” observes Sheppard. 

The Appraisal Institute of Canada identified kitchen and bathroom renovations as offering the greatest payback potential.  “Kitchen and bathroom renovations return anywhere from 75 to 100% of their investment,” says Taylor.  “That makes them peerless strategies for bulletproofing the resale value of a Canadian home in any market.”

“It’s one thing to renovate for your own pleasure and another to make changes for the purposes of resale value,” observes Taylor.  He recommends that homeowners concerned exclusively with resale avoid the projects listed by the AIC as having lowest payback potential:  adding a swimming pool (10-40%) and installing a skylight (0-25%)

Let Somebody Else Do It
With the busy lifestyles of today's families, the CMHC report found that 40% of the work was contracted out.  Twenty-eight percent of homeowners took a DIY approach and 26% of the projects were done by contract labor using materials bought by the homeowner. 

“Some homeowners are handier than others,” observes Taylor.  “The best way to ensure that things go smoothly is with a local contractor who knows what to do to meet building codes, adhere to ordinances, and where to go for necessary permits.”

For additional information about HandyCanadian.com, to find a contractor, or to post your professional services offering, you may visit www.HandyCanadian.com.  Service providers and homeowners in the U.S. are invited to visit www.HandyAmerican.com and Australians may click on www.HandyAustralian.com