
5 ROADBLOCKS TO AFFORDABLE HOMEOWNERSHIP (AND WAYS TO MOVE PAST THEM)
Dreaming of a new home but feeling priced out? You’re not alone! A 2024 survey by Royal LePage found that 46% of Gen-Z and millennial Canadians who don't already own a home have doubts as to whether they’ll ever be able to afford one.1
According to data from Canada Mortgage and Housing Corporation (CMHC) and Equifax, average monthly payments for new mortgage loans have risen 47% since the second quarter of 2020.2
Nevertheless, homeownership remains a significant value for Canadians, with 84% of 18 to 34-year-olds agreeing that buying a home is a worthwhile investment.1 And if you’re among that number, there are plenty of ways to make your homeownership dreams a reality.
In this guide, we’ll explore five common roadblocks to affordable homeownership and actionable solutions to help you overcome them. Let’s break down those barriers so you can finally get the home of your dreams!