First-Time Buyers

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Blog by Ottawa Real Estate | Ottawa Homes for Sale | Ottawa Relocation | June 27th, 2011

A Look at First-Time Homebuyers

More than 80 per cent of first-time buyers (who purchased a home in the past two years) and those who intend to buy (in the next two years) said they are confident in their financial future, according to a study by Genworth Financial Canada.  In comparison, only 63 per cent of those who do not own a home said they felt good about their long-term finances.

Happy Buyers

The study also found that: 

  • 92 per cent of respondents said that homeownership may mean more work and effort but it's worth it. 
  • 68 per cent have the goal to pay off their mortgage as fast as possible. 
  • 62 per cent said they were more likely to have a long-term financial plan for retirement. 
  • 69 per cent said they expect their financial situation to improve in the next year.