Canadians continue to view home ownership as a major financial goal even as affordability pressures and market uncertainty weigh on buyers and homeowners, according to a new poll released by RBC Royal Bank.
The lender’s Spring Home Ownership Poll suggests strong demand persists, with 67 per cent of Canadians saying they have always dreamed of buying a home, up from 62 per cent a year earlier, while 32 per cent expect to purchase a house or condominium within the next two years.
The findings point to continued interest in real estate as both a personal and financial milestone, even as concerns about timing, affordability and mortgage renewals shape decision-making among prospective and current homeowners.
Janet Boyle
“Despite a complex and uncertain market, Canadians still aspire to home ownership and the perception of financial independence that comes with it,” says Janet Boyle, Senior Vice President of Home Equity Finance, RBC. “What’s changed is that many buyers’ mindsets have shifted from the fear of missing out to concern about making the right move at the right time. Working with a mortgage advisor can help reduce uncertainty and provide the guidance and clarity Canadians need to navigate today’s market and get closer to their home ownership goals.”
Pressure and uncertainty persist
The poll found that many Canadians continue to feel pressure related to home buying, with 46 per cent saying there is too much pressure to purchase a home today. Meanwhile, 44 per cent reported that concerns about whether they can afford a home are constantly on their mind, up from 37 per cent in 2025.
Views on market conditions also appear divided. One-third of respondents described current conditions as a seller’s market, while 27 per cent viewed it as a buyer’s market. Those figures mark a shift from last year, when 46 per cent said it was a seller’s market and 17 per cent identified it as a buyer’s market.
At the same time, four-in-five Canadians said purchasing a home is one of life’s biggest financial milestones. A majority also associated home ownership with financial independence or viewed it as essential to their future.
First-time buyers advance savings plans
Among Canadians planning to purchase their first home within two years, 62 per cent said they feel closer to achieving that goal. Many have also taken steps to prepare financially, with 71 per cent reporting they have a savings plan in place and an average of $110,339 set aside.
Seven-in-10 said they plan to use the tax-free First Home Savings Account.
However, affordability concerns remain significant. A majority of prospective first-time buyers said they worry about whether it is the right time to buy and about making the wrong decision. While 65 per cent indicated they feel ready to purchase, they said their finances are not yet sufficient.
The poll suggests some expect lifestyle trade-offs to achieve ownership. More than half said they would do anything to buy a home, while others anticipate living with their parents longer, delaying having children or taking on additional work to afford a property.
Mortgage knowledge was also cited as a barrier. Nearly two-thirds of respondents said they do not know how much they can afford or what is required for mortgage approval, and more than half said they are unsure where to begin the home-buying process.
Kindel Media photo
Existing homeowners consider next move
For current homeowners planning to purchase another property within the next two years, confidence in the long-term value of real estate remains evident.
Three-quarters said buying a house or condominium is a good investment and that the benefits of ownership outweigh the negatives. Some also indicated they may accelerate plans to move, with 42 per cent saying they are considering buying sooner because of lower interest rates.
Location and space considerations are also influencing decisions. The poll found 75 per cent of respondents would be willing to move to suburban or rural areas in search of larger homes.
Renewals and rising costs in focus
Mortgage renewals and ongoing expenses are emerging as key concerns for homeowners.
Nearly six-in-10 said they are worried about covering the costs associated with home ownership. At the same time, some are using lower interest rates to reduce debt more quickly, with 38 per cent paying down principal and 29 per cent reporting they are paying off their mortgages faster than expected.
The survey found 39 per cent of homeowners are concerned about making the wrong decision when renewing their mortgage. That figure rises to 58 per cent among those facing renewal within the next two years.
Half of respondents said they expect to rely on a mortgage advisor to help navigate the process.
Brad Evjen
“There is a lot of cautious optimism amongst our clients these days,” says Brad Evjen, Senior Mortgage Specialist at RBC. “While you can’t time the market, you can make educated decisions. Considering cash flow, debt management strategies and future goals all factor into buying or owning a home. Having access to the right tools, expert advice and mortgage solutions can make a real difference in helping buyers feel prepared and confident to navigate the homebuying experience in a way that suits them.”
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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