According to a new BMO survey, 43% of Canadian homeowners say they couldn’t have done it without financial help from family. Whether it’s help with a down payment, monthly bills, or even renovations, the “Bank of Mom and Dad” is becoming less of a backup plan and more of a baseline.
And while many still believe in the long-term value of owning a home, confidence in the market is shifting.
Right now, 67% of would-be buyers say they’re holding off until interest rates drop, ideally to 3% or less. But it’s not just rates—confidence is also in short supply. Concerns about a recession are on the rise, especially in regions like Southern Ontario and B.C., where housing prices have softened and buyers are understandably cautious.
The data shows a clear pause in action. Of the 38% of Canadians who plan to buy, only 14% are hoping to do it this year. Nearly a quarter are aiming for 2026 or beyond.
For younger Canadians, the dream of owning a home is becoming harder to hold on to. Half believe it’s less attainable than it was just a year ago. Among Millennials, 66% say they feel like they’ve missed their window altogether. And honestly? It’s tough to blame them.
Still, 59% of Canadians say owning a home remains one of their top life goals. The desire is there—it’s the path that’s changing.
Faced with higher costs and limited options, some Canadians are getting creative.
Shared homeownership is gaining popularity, with 45% open to buying a home with friends, family, or even non-romantic partners.
Renting is also becoming more acceptable, especially among Boomers and Gen Xers. More than half say they prefer the flexibility, and six in 10 feel no pressure to buy.
Interestingly, 70% of Canadians say they feel confident about their current financial situation—but they’re still anxious. The top concerns?
Unexpected expenses (82%)
Overall financial health (81%)
Housing costs (72%)
It’s a tricky balancing act: feeling stable, but hesitant to take the leap.
If you’re reading this and feeling conflicted, you’re not alone. Whether you’re saving, waiting, helping a loved one, or just figuring out what’s right for you, the takeaway is this: homeownership is still possible—but it’s changing.
And that’s not necessarily a bad thing
We help Canadians explore their options—without pressure, and with clarity. Whether it’s buying now, later, or never, we’re here to offer tools and perspective to help you decide what makes the most sense for your next move.
