Accessibility, investment potential among leading purchase motivators - study
The latest survey conducted by the Canada Mortgage and Housing Corporation (CMHC) found that would-be home buyers in every category – namely, first-time buyers, previous owners, and current owners – are all motivated my mostly the same factors when deciding to finally purchase a residential property. The Crown corporation’s 2018 Prospective Home Buyer Survey has determined that improved accessibility (i.e., less physical obstacles and barriers) and investment opportunities are the top motivators for Canadian would-be buyers. Surprisingly, “changes to mortgage regulations and concerns about possible future interest rate increases were not among the top motivators for prospective home buyers in 2017.” Fully one in four prospective home buyers said that they would likely consider delaying their purchases in the event of an increase in interest rates.
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