Homeownership Is Important To Younger Ontarians

By: Marilyn Rogers

Homeownership Is Important To Younger Ontarians

A recent poll conducted for the Ontario Real Estate Association has found that homeownership is important to younger Ontarians.

Approximately 77% of Generation Y and 79% of Generation X feel that owning a home is important to them, while the majority of both generations feel that owning a home is better than renting long-term. 

According to Sean Simpson, the vice president of Ipsos Public Affairs:

"A large majority of younger Ontarians believe that owning a home makes more sense than renting. They also have a positive perception of the economy and the current residential real estate market in Ontario, both of which are important considerations in the decision to buy a home. Insights like these help us understand the motivation for younger people to buy homes."

According to Phil Dorner, president of the Ontario Real Estate Association:

"The desire to own a home is alive and well among these demographics. Their positive forecasts show that these new and aspiring homeowners understand the long-term investment potential of residential real estate."

Areas like Peterborough are perfect for younger buyers and first-time buyers who are looking to purchase their first home. Peterborough is within comparable driving distance to Toronto and the GTA, while also having more than enough infrastructure for families to have all they need - for life, work and play - right in their own city at an affordable price.