Many Canadians are beginning to think outside of the box in an effort to achieve their dream of property ownership according to a new survey.
With the market still delivering strong values against a background of high-interest rates, an increasing number of people are investigating innovative strategies to purchase a home.
A new real estate survey has shown just how creative Canadians are becoming. These include:
- 32% of respondents said they had considered so-called “non-traditional” methods to buy a property.
- Rent-to-own models were the most popular approach, with 22% saying they were considering this purchasing model.
- A similar number (21%) said they were considering partnering with a family member – not a spouse – to purchase a property.
- Almost one in five (17%) said they intended to make a purchase and supplement their income by renting out a portion of the home to help meet the mortgage payments.
As an experienced brokerage in your area, we believe it’s a smart play to look at every angle to give yourself the best chance of owning a home.
If you are considering selling your current property and buying the next home of your dreams, please do not hesitate to contact us.
Local prices remain strong, and with the anticipation of falls in interest rates later this year, we are seeing an increasing number of buyers enter the market. So, this could be the perfect time to make your move!