It's no surprise that homeownership can create significant financial benefits over time. What's often overlooked is the value of the non-financial advantages – to the individual, their community and society as a whole. In fact, the value of homeownership spans the realms of health, education, and civic and socio-cultural spheres.

In-home wine cellars' popularity on the rise

Canadians love to kick back and enjoy a good sip or smooth tipple – after all, we spent $7 billion on wine alone in 2016, according to Statistics Canada. So it's no surprise that people are building the activity into their homes.

Whether a leisure-time imbiber, a hobbyist or a serious collector, wine racks, wine rooms and wet bars have become popular additions to new-home designs and renovated homes alike.

Leaders in middle-ring suburbs grapple with current challenges, while looking to the future

Calgary is a city that is continuing to grow and expand, with new suburbs and surrounding areas showing marked growth this year, yielding new infrastructure and amenities for residents. However, while Calgary's newer communities expand, older communities are experiencing unique challenges.

A closer look at the numbers behind Calgary's apartment-style housing market

Statistics Canada recently released an interesting piece of information regarding Calgary's residential real estate market that went relatively unnoticed.

According to the government agency, the share of households in the Calgary census metropolitan area living in condominiums was 21.8 per cent in 2016. That represented the second highest percentage in the country, behind only Vancouver at 30.6 per cent, and was much higher than the national average of 13.3 per cent.

Alberta's most popular renovation projects

Canadians spent nearly $53 billion on renovations throughout 2016, according to Statistics Canada. And throughout the first quarter of this year, Canadians have already spent more than $12 billion on renovations.

According to ATB Financial's Economics and Research Team, home renovations in Alberta alone hit "a record high" of $1.78 billion during the first three months of 2017.

So, just where are Canadians – and Albertans, specifically – spending their renovation dollars?

How Calgary's housing market stacks up against other major centres

When it comes to the housing market and the availability of affordable options, people often lose sight of the big picture. Instead of obsessing over the minute details of the market in any one particular city, it can be helpful to take a step back and examine things in a broader context to provide points of comparison. This dose of perspective helps one to remember that while $400,000 might seem like a lot to ask for a detached home in one city, in another major metropolitan area, people might be hard pressed to find a home for less than twice that amount.

Major renovations and minor modifications to make any home more accessible and livable for seniors

As Canada's population continues to skew older, more and more seniors want to remain in their homes rather than move into a retirement residence or long-term care facility. This preference for "aging in place" has increased the popularity of several home renovations and modifications that make the home more accessible, and easier to navigate, for older individuals. Here are some of the top aging-in-place renovations.

The number of Albertans spending money on renovations for their existing homes and recreational properties is on the rise.

According to Statistics Canada, investment in home renovations in the first quarter of 2017 hit a record high of $1.78 billion. A release from ATB Financial's Economics and Research Team says this is close to double the spending a decade ago.

Todd Hirsch, chief economist with ATB Financial, says he was surprised by the data for the first three months of this year.

"The increase that we saw in late 2016 and the first quarter of this year can be attributed to the rebuild in Fort McMurray (from last year's wildfires) because not every house was destroyed, which we tend to focus on." he said. "There were also many, many homes that needed to be renovated."

Provincial decline led the country

Spending on new residential construction in Alberta totalled $738.3 million in April, down from the $1.025 billion seen the previous April, according to the latest numbers from Statistics Canada.

The 28 per cent decline was the largest fall of any of the provinces, with decreased investment occurring in all dwelling types – although the decline was mainly due to lower spending on single-family dwellings.

In total, spending on new housing construction decreased in five provinces in April. Alberta was followed by Saskatchewan and Manitoba.

New homes construction in Calgary fell by 19.3 per cent in January

According to Statistics Canada, investment in new housing construction declined overall in Alberta by 19.3 per cent in January 2016 over last year.

Spending in the province decreased in all dwelling types except apartment and apartment-condominium buildings, which rose 22.5 per cent to $195 million.

With spending falling from $849.5 million to $685.4 million, Alberta's drop was the largest decline nationwide, with Saskatchewan's 30 per cent decline amounting to a cut of just $30 million.