Most Canadians are in their 50s before living in their ideal home

Finding a home that ticks all the boxes is part of the Canadian Dream but a new survey reveals just how long it can take to achieve.

Most Canadians are not living in their ideal home according to the poll by CENTURY 21 Canada. While 41% of respondents said they are close to living in their ideal home and 43% are moderately close, when age is factored in only a third of 25-54 year olds are close.

Meanwhile, more than half of over 55s (56%) are close to their ideal situation. Even among those approaching that age group (45-54), one in five say they are far from their ideal.

“While you would expect young adults may not be not living in their ideal situations as they work to establish themselves, it was striking that their satisfaction level didn’t improve significantly until people got into their 50s,” said Brian Rushton, Executive Vice-President of CENTURY 21 Canada. “It was also surprising that while two-thirds of Canadians told us a single detached home is their ideal a quarter preferred an apartment, primarily because they value a low maintenance lifestyle.”

What are Canadian homeowners looking for?
Almost half of respondents said that type of home is one of the two most important factors of their ideal home while a similar share cited the location.

Condition of home, size, proximity to amenities, age of home, and proximity to transit, are other important factors mentioned.

While 65% of respondents nationally said that a single detached home was their ideal for reasons including privacy and a yard; 24% said they prefer an apartment due to the lower maintenance. The remaining 11% would opt for a semi-detached home or other housing type including houseboat.

The numbers varied by region, with only 52% of Metro Vancouver residents preferring a single detached house compared to 79% in Calgary and 80% in Regina.

Those in the 35-44 age range showed the highest interest in single detached houses , especially those with children at home. Single people and couples without children are more likely to prefer apartments.


More Mortgage Guide