Despite ongoing market uncertainties, a recent RBC survey reveals that the dream of homeownership remains strong for many Canadians, particularly in the GTA. The poll indicates that 67% of Canadians still aspire to own a home, a notable increase from 62% the previous year. Furthermore, 32% anticipate making a purchase within the next two years.
First-time buyers are demonstrating commitment, with 71% having savings averaging $110,339. However, concerns persist regarding affordability, timing, and potential mortgage renewals. Many are prepared to make sacrifices, such as living with parents longer or taking on side hustles, to achieve their homeownership goals. Mortgage renewals are also a significant concern for existing homeowners.
For a deeper dive into the survey’s findings and expert advice on navigating the current market, read the full article on The Toronto Star.
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