{"id":791203,"date":"2019-07-10T03:29:05","date_gmt":"2019-07-10T07:29:05","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=791203"},"modified":"2024-11-21T10:38:39","modified_gmt":"2024-11-21T15:38:39","slug":"moving-to-buy-a-home","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/research\/moving-to-buy-a-home","title":{"rendered":"Moving to buy a home"},"content":{"rendered":"

With the cost of property through the roof in many of Canada\u2019s major cities, buying a home can seem out of reach. Yet homeownership remains a goal for many Canadians, and those who are unable to afford the place of their dreams are often willing to compromise. For some, this requires buying a smaller place or having a long commute; for others, it means moving to a more affordable city. But are Canadians really willing to move to own their own four walls? And which cities would they consider moving to? We polled 1,200 Canadian adults to find out.<\/p>

Key findings<\/h3>
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The majority of Canadians are willing to move cities to own a home<\/h3>

More Canadians are willing to move to another city to be able to afford a home than not \u2013 but not by much. According to the survey, 54% of adults said they\u2019d move compared to 46% who wouldn\u2019t. Generation Z adults (18-24 year olds) are the most willing to move, with 85% saying they would consider relocating. The majority of millennials (25-34 year olds) and those aged 35-44 are also open to the idea, with almost 70% saying they\u2019d consider moving to buy.<\/p>

The older you are, the less likely you are to be open to moving \u2013 likely because older Canadians already own their homes or are set in their cities. According to the survey, 57% of the upper-age bracket of Generation X (45-54 year olds) would consider moving, compared to 51% of 55-64 year olds and 26% of those 65+. Men and women almost equally say they\u2019d relocate to be able to buy a place, with 55% of men saying they\u2019d consider the move, and 52% of women saying the same.<\/p>

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Most popular cities to move to for homeownership<\/h3>

Toronto is one of the most expensive Canadian cities<\/a> to purchase a home, but also the most desirable to be a homeowner in. According to the survey, 10% of respondents, the equivalent of about 3 million Canadian adults, said they\u2019d move to Toronto in order to be able to buy a place. Over a quarter of Generation Z would happily move to Toronto while just 3.5% of those from the Prairie Provinces said the same.<\/p>

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\"Where<\/a><\/p>

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Halifax was the second most popular choice (9.67%), particularly among those aged 35-44 (16%). It\u2019s not so desirable for Generation Z though, with just over 2% saying they\u2019d consider moving there. St. Catharines\/Niagara came in third place (8%), followed by Ottawa (7.83%), Kelowna, London and Kitchener (all 6.92%). Ottawa was particularly popular among young folk, with over a fifth of 18-24 year olds saying they\u2019d be willing to move there to buy. Montreal and Vancouver are popular with younger Canadians, but their appeal steadily drops off with age. According to the survey, 17.02% of Generation Z would be willing to move to both cities and 12.65% of millennials. Regina is the city people are least likely to want to move to (2.67%), followed by Whistler (2.75%), Windsor (3.5%), Saskatoon (3.58%) and Oshawa (4.08%).<\/p>

10 most popular cities by age group<\/h4>