A new survey commissioned by CENTURY 21 found that most Canadians aren’t getting close to their ideal living situation until well into their 50s, and that one quarter of Canadians idealize apartments.
The survey of 1,000 adults from eight metropolitan centres found that, when asked how close their current living situation was to their ideal, 41 per cent said close (8 to 10 on a 10-point scale), 43 per cent said moderately close, and 16 per cent said far from ideal.
Factoring in age, only a third of those aged 25 to 54 said their current living situation was close to their ideal, while a majority (56 per cent) of those aged 55+ said the same. Meanwhile, in the 45 to 54 age range, about one in five said their living situation was far from ideal – about the same percentage as young adults.
“While you would expect young adults may not be living in their ideal situations as they work to establish themselves, it was striking that their satisfaction level didn’t improve significantly until people got into their 50s,” said Brian Rushton, Executive Vice-President of CENTURY 21 Canada. “It was also surprising that while two-thirds of Canadians told us a single detached home is their ideal, a quarter preferred an apartment, primarily because they value a low maintenance lifestyle.”
49 per cent of those surveyed identified type of home as their top two priorities when considering purchasing a new home, while 46 per cent identified location/neighbourhood as one of their top two considerations. Other factors identified include: condition of home; size; proximity to amenities; age of home; and proximity to transit.
“This survey tells us that when people buy a home they are buying a lifestyle. What that means varies widely with the individual, but it typically requires deciding what is most important within your budget and what compromises you’ll make to get as close to your own ideal living arrangement as possible,” Rushton said. “This is consistent with what we hear from CENTURY 21 realtors, who tell us they regularly work with clients to help them determine their top priorities in a new home and how that lines up with their lifestyle.”
Across all eight metropolitan areas, 65 per cent of Canadians identified a single detached home as their ideal, with another 24 per cent identifying an apartment as their ideal. The remaining 11 per cent preferred a semi-detached home or other arrangement (trailer, houseboat, etc.).
The numbers varied by region, with only 52 per cent of Metro Vancouver residents preferring a single detached house compared to 79 per cent in Calgary and 80 per cent in Regina. Interest in single detached houses peaks at ages 35 – 44, especially among those with children at home, declining afterwards. Single people and couples without children are more likely to prefer apartments.
Those who prefer a single detached home identified a private and independent lifestyle, a yard, tranquility, space, and privacy as their top reasons, while those who prefer apartments identified a hassle-free lifestyle and lower maintenance as their top reasons.
On a similar note, while 63 per cent of Canadians would like a bigger home, a significant minority (19 per cent) would like to move into a smaller home.
The online survey was conducted by the Lana Porter Group Inc. with 1,000 Canadians aged 18+ between June 15 and 25. The sample included 200 residents each in the greater metropolitan areas of Vancouver and Toronto and 100 each in the greater metropolitan areas of Calgary, Edmonton, Regina, Winnipeg, Montreal, and Halifax.
