Calgary renos could cost less in downturn, industry insiders say

Like many local industries, the renovation business is taking a hit during Alberta's economic downturn, but some in the industry say that could be good news for consumers.

Lewis Cowie's home renovation company isn't as busy as it once was.

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He says business is down about 30 per cent from mid-2014.

And that has forced him to make some changes.

"We've become much more demanding on our trade network, we've reduced our staff, kept all of our best people. People that aren't performing, we've moved on from," Cowie said.

And that could be welcome news for customers both in terms of quality of work and cost.

John McCoy's renovation company is a member of the Calgary Home Builders' Association.

He says people who are able to get renovations right now are getting a deal.

"A renovation that cost $100,000 a year-and-a-half ago, is probably selling today in the $85,000range. So I would say there's probably 10 to 15 per cent savings," McCoy explained.

McCoy says he's still seeing activity in the industry, but the average job is smaller in size.