The home renovation giant Lowe's recently entered the Hamilton market and, to my understanding, has had huge success thus far (at least they spend an incredible amount on advertising).

So, perhaps their research is worth repeating.

Their lates survey states that the new Home Revovation Tax Credit in the 2009 Budget will make one in five Canadians more likely to undertake renovations in the next 12 months.

"For Canadians who may have been postponing their renovation projects,
big or small, there is no better time to invest in their home and take
advantage of the temporary tax credit," said Lowe's Canada president, Don T.
Stallings. "This is the year to save on home renovations..."

The federal government's temporary tax credit is designed to stimulate
investment in Canada's home renovation sector. The HRTC is a temporary 15 per
cent tax credit that can be claimed on up to $10,000 of eligible home
renovation expenditures between Jan. 27, 2009, and Feb. 1, 2010. The credit
will apply to the portion of eligible expenditures that exceeds $1,000 but
does not exceed $10,000, up to a maximum credit of $1,350.

Patricia Lovett-Reid has some good advice on how to spend the credit: http://finance.sympatico.msn.ca/Investing/PatriciaLovettReid/article.aspx?cp-documentid=17402069

Here's the link to Canada's Economic Action Plan page with further details on the Home Renovation Tax Credit:http://www.budget.gc.ca/2009/plan/bpa5a-eng.asp#Personal

Robert J. Morrow is editor of www.HamiltonHomeReview.com, an online real estate magazine serving Greater Hamilton, Ontario. Click here for a FREE SUBSCRIPTION sent to your email monthly. Click here to receive new Hamilton area listings in your email daily.