Size matters less than quality to homebuyers

Canadian homebuyers are willing to compromise on the size of their new home but some things are not negotiable, according to a new survey

The Canadian Home Builders’ Association's inaugural survey of the preferences of recent homebuyers found that 35 per cent would like a single-family detached two-storey home; however, while 22 per cent would adjust their size requirements none would lower expectations of quality or energy efficiency.

The ‘must-haves’ in a new home include walk-in closets and energy-efficient appliances; both were considered vital by 68 per cent.

More than half (53 per cent) of the 12,000 respondents said that their community should have walks, and cycle paths and parks were also important for 41 per cent.

The demographic of those buying homes, including first-home buyers, is dominated by generation X (46 per cent) with millennials (gen Y) making up 38 per cent. Unmarried couples with no kids make up a large percentage of all buyers of new homes. 
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Elizabethtown-Kitley, Brinston, Lower Economy, Fullarton, Maniwaki

COMMENTS

  • by 2015-05-14 9:06:35 AM

    If only 22% are willing to adjust their size requirements then does that mean 78% would not? If so, then how can you say size doesn't matter?

  • by Aisha 2015-05-18 11:43:30 AM

    Walk in closets? Since when did they become so popular to the average house buyer.

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?