Quebecers will pay more for environmentally friendly homes – if it saves them money - TD Canada Trustreleases 3rdGreen Home Poll –
- Of Quebecers willing to pay a premium for environmentally friendly homes, nearly two thirds say a main reason for paying more is future savings on their energy bills
- 28%of Quebecers have carried out a green home renovation or are planning to do one in the future
MONTREAL, March 30, 2010 - More than half of Quebecers (58%)say they would spend more on a house or condo that includes environmentally friendly features, according to the TD Canada TrustGreen Home Poll.
Saving money is a priority for Quebecers
Of Quebecers who are willing to pay a premium on environmentally friendly homes, 65%say that cost savings on future energy bills is a main motivation. Home owners in the province who are willing to pay more for environmentally friendly homes also appreciate the added features of a green home such as reducing their environmental impact (28%)and the health benefits (25%).
“This is the third year that Quebecers 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 Linda Dupont, Regional Sales Manager, Personal Credit, TD Canada Trust.
Environmentally friendly home upgrades work for Quebecers – and their wallets
Environmentally friendly home renovations and upgrades are popular with Quebec home owners. More than one quarter (28%)of Quebecers have done a green home renovation or are planning to do one in the future. Another 18%of Quebecers 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 Quebecers to make changes. Sixty-five per cent of Quebecers are interested in participating in an energy saving program and 5%are already participating in a program. Nearly half (49%)of respondents say they are more likely to make energy efficient upgrades if they benefit from tax credits. Fifty-one per cent of Quebecers 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 Dupont. “With Earth Day® right around the corner, it’s the perfect time for Quebec home owners to assess how green their homes are and make some positive changes.”
Quebec home owners are trying to live a little greener at home
Eighty-nine per cent of Quebecers choose greener home maintenance options such as avoiding pesticide use (53%), disposing of chemical products at the appropriate disposal centre (52%)and using green household cleaners (45%). Replacing existing fixtures, such as replacing regular light bulbs with CFL light bulbs (40%)and replacing or upgrading windows (28%), top the list of home improvements home owners have already undertaken or are planning to undertake in the next 12months. Other popular improvements include changing lighting fixtures to accommodate low wattage lighting (25%), replacing kitchen appliances with more energy-efficient models (24%)and applying weather-stripping and caulking to stop drafts (18%).
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 391Quebec respondents.
About TD Bank Financial Group
The year 2010marks the 150thanniversary of TD Bank Financial Groupin Quebec. TDBFGhas built on a long tradition of quality client service and community involvement that dates back to the opening of the first branch of the Bank of Toronto in Quebec in 1860. Today, TDBFG’sQuebec presence includes over 4,000employees and 125offices and points of service, as well as significant investments in community programs.
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.
For further information:
Earth Day® and the Leaf & Swirl DesignTM are trade-marks of Earth Day Canada (1991) Inc., used with the permission of Earth Day Canada (1991) Inc.