Perhaps Vancouver is your home sweet home but how many homes do you think a Canadian owns in their lifetime?
A recent survey by TD Bank finds that one in five Canadians own five homes in their lifetime and 23% of those surveyed plan to move again in six years and less than one third say their next move will be their last.
49% think their next home will be larger vs 51% who think it'll be smaller and 7 in 10 repeat homebuyers say their next home will be a detached, not a townhome or condo.
21% plan to take the maximum mortgage they'll qualify for and 72% plan to stick to their current lender.
Only one in three home buyers are cautious saying they wouldn't buy a new home until their current home is sold, but 45% would put in an offer if the perfect place was available and hope theirs sells.
Two thirds plan to choose accelerated payments for their next mortgage.
29% say they'd be moving due to retirement. 16% said they're bored with their current home and 39% will use one as a rental property. 51% said they'd improve the resale value of their home by redecorating.
Buying or selling Vancouver real estate? Put Maggie Chandler's hyper-local experience to work for you! CAll 604-328-0077