Home is where her heart is: 3rd annual TD Canada Trust Women and Home Ownership Poll reveals the growing importance of having a place to call your own
Although financial security continues to top the list of home ownership benefits, the comforts of home are increasingly important to Canadian women. According to the third annual TD
When asked to describe the best things about home ownership, Canadian women said it is about making a house a home. Having a place of their own (34%), being able to decorate or renovate the way they want (34%) and having a backyard or garden (32%) were some of the responses that increased dramatically from the first survey conducted in 2008. Women had cited having a place of their own at 22%, being able to decorate or renovate the way they want at 14%, and having a backyard or garden at only 5% back in 2008.
"Even though the comforts of home have become increasingly important to women, the financial reasons for home ownership have also increased in importance," says
"It's not surprising that the financial reasons for ownership have increased in importance for people. People are looking for ways to feel financially stable again and see home ownership as a way to build equity and invest in their future."
The financial commitment of owning a home can be a double-edged sword; for many women home ownership offers a sense of financial security yet the financial responsibility can be a headache for others. Twenty-nine per cent of women say that the additional expenses and financial responsibility related to owning a home are their least favourite things about home ownership.
"With interests rates still fairly low, there are affordable financing options available for women considering purchasing a home," says Wisniewski. "However, as interest rates are expected to rise in the near future, it's important that home buyers consider their financial options carefully. We know home buyers have questions, especially those purchasing for the first time so we hope they will come to a branch for some great advice about the options available. For even greater convenience TD has mobile mortgage specialists who can work around their schedule to meet them anytime, anywhere."
In fact, getting more advice when talking to experts and asking even more questions is something most women surveyed wished they had considered when buying their first home. When asked which topics they wish they knew more about when they purchased their home, 40% of women wished they had more knowledge about the fees and costs associated with purchasing a home, 32% wanted more information about the expected annual expense of owning a property and 30% wanted more information about mortgage options.
To discuss financial options for buying, selling or renovating a home, including things like expected costs, Canadians can visit any TD
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