Business
Doorbells before wedding bells: New generation of homebuyers unlocking financial success
Doorbells before wedding bells: New generation of homebuyers unlocking financial success ...
About this update from Royal Bank Of Canada
[{"type":"text","content":"\n\n\n\n Doorbells before wedding bells: New generation of homebuyers unlocking financial success\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Houseful survey reveals first-time homebuyers under 30 in\n \n Canada\n \n prioritizing home ownership over other goals to secure their financial futures\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 21, 2024\n \n\n /CNW/ - Despite a challenging housing market and recurring headlines around housing affordability, first-time homebuyers in\n \n Canada\n \n under 30 are undeterred. Instead, they are doubling down on home ownership as a financial priority over common life milestones such as weddings.\n \n\n\n\n\n\n\n\n\n A new survey from\n \n Houseful\n \n reveals a trend of first-time homebuyers under 30 keeping home ownership top-of mind as they assess their priorities. According to the survey results, 78 per cent of single and unmarried first-time homebuyers under 30 are prioritizing saving for a mortgage over having a more lavish wedding, compared to 70 per cent of those over 30.\n \n\n While their priorities are focused on home ownership, they're aware of difficulties in the current market – 72 per cent of those under 30 state that reports about the market make housing look unattainable. Yet even with rising housing costs, they're putting home ownership first to build equity over a longer period and prepare for their future. 71 per cent believe home ownership will be an important part of their retirement plan.\n \n\n \"Younger adults are increasingly conscious of ongoing housing affordability challenges, which motivates them to secure a financially stable future by seizing saving opportunities earlier,\" said\n \n Karen Starns\n \n , CEO of\n \n Houseful\n \n . \"After getting a foothold in the market, they can gain the flexibility to pursue other life milestones that are important to them.\"\n \n\n With a new generation of first-time homebuyers entering the market,\n \n Houseful\n \n offers access to personalized tools, market insights and mortga...