A Snapshot of First-Time Home Buyers

  Genworth Canada recently polled over 1,800 first-time homebuyers in Canada in their ‘2017 Homeownership Study’, to get a feel for what that prominent demographic looks like. Almost half of first-time buyers (49%) believe owning a home is a wise financial decision. Top reasons homebuyers were motivated to purchase include: 1) believe owning is a wiser financial decision (49%); 2) want to control the home they live in (46%); and 3) saved enough for a down payment (45%). A further three in ten (29%) said they disliked renting a home. Nearly six out of ten or 57% of first-time homebuyers indicated that they would have a more difficult time…