Among Canadians who plan to buy a home within the next two years, women are more likely than men to be first-time homebuyers (49 vs. 35 per cent), according to the 19th Annual RBC Homeownership Poll.
The annual survey found purchasing habits have shifted with more women entering the housing market, income levels, changing demographics and lifestyle patterns.
However, women are being more cautious than men, weighing cost, affordability and job security before buying a home.
Of the Canadians polled who have recently become first-time homebuyers, men and women were tied (47 per cent) in saying affordability was the biggest concern that prevented them from purchasing a home earlier.
Your mortgage advisor should understand the challenge of balancing lifestyle needs and housing affordability. Whatever your specific circumstances or concerns, they should provide tailored advice on all aspects of financing a home purchase so you can have the confidence to take the next step in your goal of home ownership.
Tony Marchigiano | Mortgage Specialist | Royal Bank of Canada | T. 604-505-7109 | F. 778-737-0054