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Women more likely to be first-time homebuyers in the next two years: RBC Poll

Posted by Jeff Trounsell (jefftrounsell) on May 25 2012
Blog >> May 2012

 

Among Canadians who plan to buy a home within the next two years, women are more likely than men to be first-time homebuyers (49 vs. 35 per cent), according to the 19th Annual RBC Homeownership Poll.

 

The annual survey found purchasing habits have shifted with more women entering the housing market, income levels, changing demographics and lifestyle patterns.

 

However, women are being more cautious than men, weighing cost, affordability and job security before buying a home.

 

Of the Canadians polled who have recently become first-time homebuyers, men and women were tied (47 per cent) in saying affordability was the biggest concern that prevented them from purchasing a home earlier.

 

The best time to purchase your first home whether you are male or female is when you can afford to. If you can’t afford to purchase in the area you want to live in or are not ready to make those sacrifices then buy where you can afford and continue to rent where you want to live. Even though you’re renting at least you are building equity somewhere than having your money sit in the bank. I was always told by my father that Real Estate is the best investment you can ever make. If the market crashes or continues to rise, either way you’ll always find renters to pay your mortgage – which makes it a safe bet.


Last changed: May 24 2012 at 7:55 PM


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