First Time Homebuyers: report

Approximately 45% of all first time home buyers are purchasing independently, without the help of a co-borrower, according to a recent survey by TD Canada Trust. If we take a look at gender, 57% were men and 33% women.

The study also showed a few trends among independent first time home buyers.

First time homebuyers are most likely to say they would not compromise on:

• Price (50%)
• Number of bedrooms (43%)
• Size of backyard/garden (41%)
• Proximity to work (39%)

They are most willing to make concessions about:

• Proximity to recreational activities (82%)
• Features of the home (82%)
• A renovated kitchen and proximity to shopping (both 79%)

In addition, about 1/3 of independent home buyers looked to purchase a home with a rental suite, to help assist with mortgage payments.

Many of our first time home buyers are referred to us by existing clientele. We look forward to working with you, to make sure you feel comfortable and informed every step of the way.

Bob Hanscom Mortgage Agency