A rising number of Canadians now associate buying their first home with their 40s rather than their 20s. Research from RBC shows non-homeowners now expect to make their first purchase at an average age of 41—a full 12 years later than current homeowners did. Half of non-homeowners surveyed say they have no idea when they’ll be able to buy.
The data reveals a growing divide between generations. Three-quarters (74%) of respondents say today’s housing market presents greater challenges than previous generations faced. Two-thirds (65%) believe older generations don’t understand the challenges facing today’s buyers, while 52% reject traditional homebuying advice as no longer relevant.
The conventional approach of buying a starter home and later upgrading is disappearing. Among first-time buyers planning to purchase within the next two years, 74% would rather buy a home they can stay in longer than one they might outgrow. Current homeowners appear to understand that thinking. More than half (52%) say moving up from their first home has been harder than expected, while 46% would like a larger or different property but can’t realistically afford one.
Brad Evjen, RBC’s senior mortgage specialist, explains that choosing a home designed for long-term occupancy often means extending one’s budget. “For some, the bigger first home is the better decision. For others it isn’t, and it’s worth knowing which of those two scenarios fits your situation before you start looking.”
Financial constraints are driving buyers toward multigenerational living arrangements. 53% of prospective buyers planning to purchase within two years would consider sharing a home with family members. Among current homeowners, 35% would consider selling their property to buy a home with their child to help them enter the market. Among prospective buyers, 34% believe multigenerational living is becoming more common because of affordability, while 32% see it as a practical way to manage housing costs.
Uncertainty about timing continues to pose significant obstacles. Half of prospective buyers worry that waiting could mean being priced out if home prices rise, while an equal share worry about purchasing now only to see prices fall later. Financial stress extends beyond buyers: 51% of homeowners renewing mortgages in the next two years describe the process as nearly as stressful as their initial purchase, and 60% expect their next renewal to put pressure on household finances.
The findings stem from an online survey of 1,810 Canadians aged 18 to 64, conducted by Leger between August 5 and 24, 2026.
