Fixer-uppers, commutes: Many making trade-offs to buy homes, report says

The dream of homeownership remains elusive for many Canadians, but a growing number are willing to make compromises to achieve this goal, according to a recent survey by real estate firm REMAX. Nearly two-thirds (65 per cent) of respondents say they are prepared to make a trade-off to secure a larger or more suitable home for their family.

This includes factors such as residing farther from city centers, considering older homes that require renovations, or even relocating outside their current community. Don Kottick, president of REMAX Canada, emphasized that despite the challenges, Canadians are exploring alternative paths to homeownership.

Location emerges as the most flexible factor, with almost half (47 per cent) of respondents willing to move up to an hour away from their current community and 16 per cent ready to move even further. A third (31 per cent) would consider moving away from the city center, while 21 per cent would opt for living far from amenities like shops and restaurants to afford a home.

However, the state of the property itself is also a significant consideration, with 20 per cent of respondents open to purchasing an older home that would necessitate substantial renovations.

Financial compromises are also being made, with 41 per cent of respondents willing to reduce discretionary spending, such as travel or dining out, to purchase a home. Nearly a quarter (24 per cent) are considering extending their mortgage amortization period to lower monthly payments. Family support, in the form of financial assistance, remains vital for many, with 20 per cent saying they would accept help from family members.

Meanwhile, 17 per cent would take on a second job, and a similar percentage would delay their retirement or other long-term savings plans to afford homeownership.

Despite these challenges, REMAX notes that homebuying is becoming slightly easier in some markets, as home sales have declined in 81 per cent of the markets analyzed in their report between January and June of 2026. However, prices have still risen in over half (56 per cent) of these markets.