WHAT DO CANADIANS WANT WHEN PURCHASING A NEW HOME?

1
WHAT DO CANADIANS WANT WHEN PURCHASING A NEW HOME?
2

• When purchasing a new home in Canada, there are
  certain things that the majority of buyers seek
  to fulfil before making a purchase, and while
  these can vary according to the year and the
  individual circumstances of homebuyers, many
  follow patterns in the market.
• The ongoing health pandemic has of course altered
  the way many Canadian homebuyers shop for a
  mortgage and a property, and has changed their
  priorities, too.

3

• Being able to afford a property
• Affordability remains the most important aspect
  of a property for many Canadian homebuyers, and
  they often base their entire homebuying decision
  around it. Recent studies have consistently shown
  that for four out of five Canadians, if a
  property isnt within their budget without them
  having to make significant adjustments to their
  budget or seek loans, they wont progress with
  the purchase.

4

• As well as affordability, many Canadian
  homebuyers also take the number of rooms in a
  property into consideration, and how close it is
  to public transit hubs. With the pandemic in
  mind, outside space and property boundaries have
  also become more recent priorities. Many
  homebuyers, according to a recent poll, stated
  that the neighborhood the property was in did
  play a role in their decision making, but most
  said this was a desire, as opposed to an
  essential need that would significantly impact
  their final decision.
• Many house hunters also prefer to buy a new home
  instead of one that may be cheaper, but which
  requires some restoration or remodeling work. A
  significant decrease in the number of Canadian
  homebuyers looking for move-in ready homes was
  also noted in studies, with a paltry 6 wanting a
  turnkey house.

5

• What Canadian homebuyers want, and what they
  need
• When it comes to affordability, a whopping 80 of
  Canadian homebuyers surveyed put this as a need,
  rather than a want, and the number of rooms in a
  property showed similar results. Almost 70
  needed the property to be close to public
  transit, while the condition of the property saw
  a 50/50 split between those who wanted to be able
  to move straight into it, and those who needed
  to. What type of home the property was also saw a
  50/50 split between those surveyed.

6

• 50 of surveyed homebuyers wanting outdoor space
  attached to a property, and/or a home that was
  close to nature and outdoor spaces, while more
  than 70 wanted a home that is ready to move into
  right away.
• 50 of surveyed homebuyers wanting outdoor space
  attached to a property, and/or a home that was
  close to nature and outdoor spaces, while more
  than 70 wanted a home that is ready to move into
  right away.
• For further advice and guidance about house
  hunting and mortgage approval, seek advice from a
  local realtor and qualified mortgage broker.

7

• Red Key Mortgage is located in Calgary, Alberta.
  We are a boutique brokerage with high volume
  serving hundreds of clients locally and
  nationwide every year. We have a number of
  associates dealing in mortgages as licensed by
  the Real Estate Council of Alberta. As the best
  mortgage broker in Calgary, Red Key Mortgage,
  will provide all of your available options from
  the entire mortgage market and allow you to make
  an educated decision where you'd like your
  mortgage to go. Red Key Mortgage works with big
  banks in Canada, as well as over a dozen other
  AAA lenders. Best of all, our services are paid
  for by the lenders at no additional cost to our
  clients. If you are looking for a 2nd mortgage in
  Calgary, contact us today! We can't wait to get
  started.