To get a suitable home, buyers figure out what they’ll accept as a trade-off: Re/Max

TORONTO - A new survey conducted by Re/Max Canada reveals that Canadians are willing to make compromises to secure a home that better suits their requirements. The survey, released on Wednesday, indicates that 65% of respondents would make one or more adjustments to afford a larger or more suitable dwelling. Such compromises may entail residing farther from urban centers or opting for an older property that may need repairs.

Don Kottick, president of Re/Max Canada, stated in a press release that rather than giving up on homeownership, Canadians are exploring various options to achieve their goal. Some are considering moving outside their current community, while others are reevaluating the type of home they purchase and identifying their priorities.

The survey also found that 63% of respondents would relocate for a home that better fits their needs, with 47% willing to move up to an hour away from their current community. Despite a slowdown in the housing market, with home sales declining in 81% of analyzed markets and average prices rising in 56%, Re/Max believes that the slower pace may provide more opportunities for buyers to compare properties and focus on their most important criteria.