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Most Canadian First-Time Home Buyers Anxious They Will Miss Out Because of an Insufficient Down Payment
Most Canadian First-Time Home Buyers Anxious They Will Miss Out Because of an Insufficient...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n\n\n\nMost Canadian First-Time Home Buyers Anxious They Will Miss Out Because of an Insufficient Down Payment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 9, 2019\n\n\n\nWhile Vancouver has higher home prices, first-time home buyers in Montreal are more worried about their down payment (58% vs. 60%) First-time home buyers in Toronto had the highest anxiety that their down payment would not stretch enough to buy the home they wanted (68%) Of first-time home buyers who lived with their parents before buying, almost one-fifth said that remaining at home delayed parents' decision to downsize Despite higher median home values, Toronto (59%) and Vancouver (54%) respondents are most likely to prefer proximity to work over square footage than new home buyers in other regions studied TORONTO, May 9, 2019 /CNW/ - A survey1 released by Genworth Canada, the country's largest private residential mortgage insurer, in collaboration with Royal LePage, Canada's leading real estate services provider, analyzed key trends among first-time home buyers who purchased a home within the last two years.\nFifty-seven per cent of respondents nationwide said that before buying their home they worried they might miss out on a property they wanted because of an insufficient down payment. While Montreal's median home price is one third of that in Vancouver, respondents in Montreal reported being more worried (60%) than respondents in Vancouver (58%). Toronto respondents had the most anxiety (68%)2.\n\"While interest rates remain historically low, it is not surprising that first-time home buyers in Montreal are increasingly concerned about their down payment,\" said Phil Soper, president and chief executive ...