“The survey results show Canadians have a deep emotional attachment to homeownership,” said Peter Vukanovich, President of Genworth Financial Canada. “Most people closely associate financial security and emotional well being with homeownership.
That’s particularly true among first-time homebuyers.”
The study measured both the financial and psychological factors of homeownership – providing the following insights into the link between homeownership and personal fulfillment:
• 84 per cent agree with the statement, ‘Owning a home provides a greater sense of
emotional well-being and security’.
• 85 per cent believe that even though homeownership may mean more work and
effort, they’d rather own than rent.
• 88 per cent say they would feel more financially secure owning their own home.
The national survey of 2,521 Canadians was conducted between April 24 and May 4. The complete Genworth Financial Canada First-Time Homebuyer’s Monitor with a regional breakdown is available at www.genworth.ca.
If you are considering the Purchase of your First Home and would like patient, honest input and perspective I invite you to have me over for a coffee, I would be pleased to answer your questions.
CMHC's Publication; 1st Time Buyer Handbook are available. Reserve your copy now, by calling me at 647 218 2414.