Survey: 76% of Canadians face urgent home repairs

A recent survey from Service Line Warranties of Canada (SLWC) reported that 76% of Canadian homeowners experienced at least one home repair emergency over the past year. The study highlighted a critical financial gap, as nearly 30% of homeowners have $500 or less saved for repairs, with 12.5% having no savings allocated for these unexpected costs.

While appliance failures and HVAC issues are the most frequent emergencies, many homeowners remain financially unprepared. Despite their concerns, 92% of respondents would seek professional assistance for complex repairs, such as heating or water line issues.

The survey also revealed seasonal concerns, with Canadians preparing for winter by fixing leaks and tuning furnaces, though 27% have taken no steps for winter readiness. Key winter anxieties include heat loss and frozen pipes.