According to the TD Canada Trust Generational Homeownership Survey, almost half of Canadians (48%) aged 18-34 years old have bought a first house that was at least 21 years old.
We then see that 5+ chose newer homes with only 27% of that group purchasing a property that is 21 years or older for their first home.
The TD Canada Trust Generational Homeownership Survey was conducted to understand the differences in behavious and attitude for Canadians across the generations when purchasing their first home.
Chris Wisniewski, Group Product Manager, Real Estate Secured Lending at TD Canada Trust noted that the TD Canada Trust Generational Homeownership Survey shows that one of the most significant differences in behaviour for first time home buyers across the generations in age of the home they purchased.
The behaviours suggest that today’s first time homebuyers are looking for cost-effective options.
Looking for more affordable options, younger Canadians are more willing to take on fixer uppers as they first home compared to 24% of those now at 5+ who did the same when they were first time homebuyers.
Location is a key for factor for most Canadians, however for younger first time homebuyers, this was made top priority.
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
No related posts found
