Majority of Atlantic Canadians would spend more for a green home - TD Canada Trustreleases 3rdGreen Home Poll –
- 72%of Atlantic Canadians willing to pay a premium on an environmentally friendly home are motivated by cost savings on energy bills
- 28%of Atlantic Canadians have undergone a green renovation or plan to in the future
TORONTO, March 30, 2010 - Atlantic Canadians understand the benefits of owning an environmentally-friendly home, as 78%of people in the region are willing to pay more for a house that includes environmentally friendly features, according to the TD Canada TrustGreen Home Poll.
Saving money is a priority for Atlantic Canadian home owners
Of Atlantic Canadians who are willing to pay a premium on environmentally friendly homes, 72%say that cost savings on energy bills is a main motivation. Atlantic Canadians who are willing to pay more for environmentally friendly homes also appreciate the added features of a green home such as the health benefits (43%)and reducing their environmental impact (29%).
“This is the third year that Atlantic Canadians have told us that they will pay more for a home with environmentally friendly features and, as more and more homes are being built with green features included, the housing industry is making it easier for home buyers to find environmentally friendly options,” says Chris Wisniewski, AVP, Real Estate Secured Lending, TD Canada Trust.
Environmentally friendly home upgrades work for Atlantic Canadians – and their wallets
Environmentally friendly home renovations and upgrades are popular with Atlantic Canadians. More than a quarter (28%)have done a green home renovation or are planning to do one in the future. Another 36%of Atlantic Canadians would like to carry out a green home renovation but don’t know where to start. TD Canada Trustmakes it a little easier for home owners to find information about green home renovations and upgrades by offering links on their website (www.tdcanadatrust.com/greenhome/index.jsp) to several organizations such as Natural Resources Canada and other agencies.
In addition, government incentives, such as the federal government’s ecoENERGY program which offers grants for residential energy saving improvements1, encourage Atlantic Canadians to make changes. Though only 4%of Atlantic Canadians currently participate in an energy saving program, more people in this region than any other region say they are interested in participating in this kind of program (84%versus 66%nationally). Seventy-eight per cent of Atlantic Canadians say they would be more likely to make energy efficient upgrades if they benefit from tax credits. Fifty-eight per cent of Atlantic Canadians are likely to consider an environmental assessment prior to home renovations.
“Environmentally friendly choices can benefit the health of our families – including our financial health – and it can be easy to take advantage of them,” says Wisniewski. “With Earth Day® right around the corner, it’s the perfect time for Atlantic Canadian home owners to assess how green their homes are and make some positive changes.”
Atlantic Canadians are trying to live a little greener at home
Nearly nine in ten (88%)Atlantic Canadians choose greener home maintenance options. For example, home owners there are avoiding pesticide use (62%)and disposing of chemical products at the appropriate disposal centre (63%). People in this region are most likely in Canada to use green household cleaners (59%versus 46%nationally). Replacing existing fixtures, such as replacing regular light bulbs with CFL light bulbs (58%)and replacing or upgrading windows (41%), top the list of home improvements home owners have already undertaken or are planning to undertake in the next 12months. Other popular improvements include wrapping hot water tanks and pipes to improve heat retention (30%), insulating basements (29%)and replacing kitchen appliances with more energy-efficient models (29%).
About TD Canada Trustgreen home products
TD Canada Trusthas two ways that customers can save money and help protect the environment, the Green Mortgage and the Green Home Equity Line of Credit (HELOC). Both products offer a lower interest rate and rebates on certain purchases, while giving back to the environment. As well, when customers receive their rebate, TD Canada Trustdonates $100to the TD Friends of the Environment Foundation.
About the TD Canada TrustGreen Home Poll
The TD Canada TrustGreen Home Poll surveyed adult Canadians from across the country who own a home or are considering purchasing a home in the next 12months, to explore the relationship between the environment and home purchase or home renovations. The survey was conducted by Angus Reid Public Opinion, a division of Vision Critical, on March 12,2010with English and French speaking Canadians 18+. The sample size includes 1,494men and women, including 124Atlantic Canadians.
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Groupis the sixth largest bank in North America by branches and serves more than 18million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trustand TD Insurance; Wealth Management, including TD Waterhouseand an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Groupalso ranks among the world's leading online financial services firms, with more than 6million online customers. TD Bank Financial Grouphad CDN$567billion in assets on January 31,2010. The Toronto-Dominion Bank trades under the symbol "TD"on the Toronto and New York Stock Exchanges.
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Earth Day® is a trade-mark of Earth Day Canada (1991) Inc., used with the permission of Earth Day Canada (1991) Inc.