Nearly half of Canadian homeowners cannot afford to move up, RBC poll finds
First-time buyers now expect to purchase at age 41, 12 years later than current owners did.
A new poll from RBC shows nearly half of Canadian homeowners cannot afford to move to a larger or different home. The 2026 Home Ownership Poll found 46 percent of current owners say such a move is not financially realistic. Most existing owners, 52 percent, say moving up from their first home is harder than they expected. The survey also reveals first-time buyers are getting older and fewer owners can afford to upgrade.
Aspiring first-time owners now plan to buy at 41 years old on average, which is 12 years later than current owners did. Nearly half of these prospective buyers were unsure when they would be able to purchase a home. Most non-owners, 74 percent, said becoming a homeowner is much harder than it was for past generations. Over three in four, 77 percent, believe buying is harder than it was in the past, and 60 percent say traditional buyer advice is no longer true. The poll indicates high home prices are causing buyer gridlock, breaking down the traditional property ladder. "Buying a home you can stay in longer usually means stretching your budget further, so the math has to work in both directions," said RBC senior mortgage specialist Brad Evjen. He noted he prefers to walk clients through monthly payments against what moving up in five years would cost.
In response, 74 percent of aspiring first-time buyers are looking for a long-term home instead of a starter home. The survey found that 57 percent of prospective first-time buyers would consider multi-generational living with parents. Most buyers overall, 53 percent, including current owners, would consider that option. Nearly half of all respondents, 44 percent, would also consider multi-generational living. Now 29 percent of prospective first-time buyers say multi-generational buying is more a necessity than a choice. The poll found 35 percent of homeowners say they are prepared to sell and jointly buy with their kids to help them enter the market.
With files from Better Dwelling