The reason single Canadians aren’t buying real estate
Single Canadian homebuyers are a financially savvy bunch, with modest debt levels compared to the national average, according to RE/MAX’s recent Single Buyers Report. While it’s understandable that two incomes can make buying real estate easier (and less intimidating!), there is still reason to consider a solo property investment.
Economic uncertainty and expensive home prices are the top their list of worries, single Canadians noted in a recent Leger survey commissioned by RE/MAX. However, it’s important to remember that buying real estate in Canada is one of the safest and most reliable financial investments anyone can make.
Top benefits for singles buying real estate:
1. Long-term investment benefits in a safe and secure market.The ROI potential and opportunities available in a housing market like Canada are endless. Home ownership will always remain a worthwhile investment.
2. Asset growth.As home prices continue to grow nationally, particularly in cities like Toronto and Vancouver, home ownership for many singles will continue to be a great opportunity for asset growth over the long term.
3. Income potential with a rental property.For singles looking for additional income, owning a home can yield big benefits like helping to pay a mortgage off even quicker!
Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty
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