RBC poll says first-time buyers save more, but delay kids, side hustles to afford a home
Canadians still describe buying a home as one of life’s biggest financial milestones, even as more of them worry they might misjudge the timing or their own affordability.
RBC’s Spring Home Ownership Poll finds that 67 percent of Canadians say they have always dreamed of buying a home, up from 62 percent in 2025, and 32 percent expect to purchase a house or condo within the next two years, holding steady year-over-year.
Four-in-five (80 percent) say buying a first home is one of life’s biggest financial milestones.
A majority see home ownership as a sign of financial independence (73 percent) and essential to their future (62 percent).
Janet Boyle, senior vice‑president of Home Equity Finance at RBC, says that “despite a complex and uncertain market, Canadians still aspire to home ownership.”
She says buyers’ mindsets have shifted from a “fear of missing out” to concern about making the right move at the right time, and that many seek mortgage advice to understand current conditions.
At the same time, 46 percent say there is too much pressure to buy a home today.
For 44 percent, thinking about whether they can afford a home is constantly on their mind, up from 37 percent in 2025.
Canadians split on how they see conditions: 33 percent view the current housing market as a seller’s market and 27 percent see a buyer’s market (46 percent and 17 percent respectively in 2025).
Among those planning to purchase their first home in the next two years, 62 percent feel closer to their dream of owning a home and 71 percent have a savings plan in place, with an average of $110,339 saved.
Seven-in-10 (70 percent) plan to use the tax-free First Home Savings Account (FHSA).
Affordability concerns run through this group.
A majority worry about whether it is the right time to buy (66 percent) and about making the wrong decision (63 percent).
Some 65 percent say they are ready to buy, but their finances are not.
Many anticipate trade-offs: 58 percent say they would do anything to buy a home, 46 percent expect to live with their parents longer, 42 percent are delaying having children, and 64 percent say they will need a side hustle or second job to afford a home.
Mortgage knowledge remains a barrier.
Almost two-thirds of first-time buyers say they do not know how much of a mortgage they can afford (64 percent) or what they will need to do for approval (64 percent), while 57 percent say they do not know where to start with getting a mortgage.
The polling also tracks the attitudes of current homeowners who plan to buy their next home within two years.
Among these next-time buyers, 75 percent say buying a house or condo is a good investment, and 70 percent say the benefits of owning outweigh the negatives.
Some 42 percent say they are considering buying their next home sooner because of lower interest rates.
Three-quarters (75 percent) say they are willing to move to the suburbs or a rural area to get a larger home and more space.
For existing homeowners, rising costs and mortgage renewals stand out.
Nationally, 59 percent say they are worried about covering the expenses of homeownership.
Still, 38 percent say they are taking advantage of lower interest rates to pay down more principal, and 29 percent say they are paying off their mortgage faster than expected.
In the past couple of months, 39 percent say they have worried about making the wrong decision when renewing their mortgage, rising to 58 percent among those renewing within the next two years.
Half (50 percent) say they will need a mortgage advisor to help them navigate the process.
Brad Evjen, senior mortgage specialist at RBC, says there is “a lot of cautious optimism” among clients.
He says they know they “can’t time the market” and are instead looking at cash flow, debt management strategies and long‑term goals when deciding whether to buy or hold a home.
Fast Facts from the poll underline the gap between First-time Buyers (FTHB) and Next-time Buyers (NTHB).
Among FTHB, 65 percent agree they are ready to buy a home, but their finances are not, compared with 34 percent of NTHB.
Some 64 percent of FTHB say they would need a side hustle or second job to afford a home, versus 45 percent of NTHB.
For knowledge, 64 percent of FTHB say they do not know how much of a mortgage they can afford and 64 percent say they do not know what they will need to do for approval, compared with 43 percent and 39 percent respectively among NTHB.
Average savings currently set aside for a home (excluding $0) sit at $110,339 for FTHB and $135,708 for NTHB.
