Please complete your profile to unlock commenting and other important features.

User AvatarBuild your avatar
Please select your date of birth for special perks on your birthday. Your username will be your unique profile link and will be publicly used in comments.
Narcity Pro

This is a Pro feature.

Time to level up your local game with Narcity Pro.

Pro

$5/month

$40/year

  • Everything in the Free plan
  • Ad-free reading and browsing
  • Unlimited access to all content including AI summaries
  • Directly support our local and national reporting and become a Patron
  • Cancel anytime.
For Pro members only Pro
Summary

Millennial & Gen Z Canadians Are Exploring These ‘Workarounds’ To Actually Buy A House

You better get creative if you want to buy a house!

Millennial & Gen Z Canadians Are Exploring These ‘Workarounds’ To Actually Buy A House
Antonio Guillem | Dreamstime, Fallsview | Dreamstime
Contributor

A new report from RE/MAX proves just how difficult it is for young people to buy a home in Canada these days.

According to the data, one in three (33%) prospective homebuyers in Canada are getting creative and exploring alternative options to get into the real estate market.

Of the Canadians that are looking into alternative buying options, 54% are Millennials and Gen Z. So, what are the "alternative options" they're looking into?

Many people are looking into renting out a portion of their primary residence once they buy. In fact, 21% of people who are exploring alternative options said that was their plan.

Another 13% are considering pooling their money together with friends or family in order to buy. In addition, 7% are looking to live "with like-minded neighbours in a co-op/shared living arrangement."

There also appears to be a lot of young people who are seeking out financing options to try and make buying a home a little more accessible and affordable.

From Your Site Articles
real estatebuying a home in canadacanada real estate
Real EstateCanada

Explore this list   👀

    • Britanny Burr
      Britanny Burr was a Staff Writer at Narcity Canada, who drove growth within Narcity's Western coverage and readership. Having lived between her hometown, Canmore, Alberta and Calgary, Montreal, Vancouver, and NYC over the past 10 years, she is obsessed with finding the best local hot spots. She holds a B.A. in English and has over six years of professional writing experience as Head Writer and Editor for YUL.Buzz in Montreal, and Creative Copywriter at JAKT in NYC. News by day, poetry by night — the written word is Britanny's nearest and dearest.
    Advertisement Content

    Canadian survey finds Gen Z 'leading the charge' when it comes to investing tax refunds

    But a knowledge gap could mean they're leaving money on the table.

    This Canadian city just ranked as the second-best in the country to buy real estate in 2025

    On the hunt for a house?🏠

    This small town in Canada is selling residential lots for just $10 to get you to move there

    Your dream home could be closer (and cheaper) than you think! 🏠

    Minimum wage is going up across Canada soon — but one province is getting left behind

    It could mean a raise of over $1,600 a year! 💸

    This BC small town with charming streets ranked as one of Canada's 'top travel destinations'

    The perfect weekend escape awaits you here.

    This enchanting small town set on a BC island was named among North America's 'most peaceful'

    Sandy beaches, ancient forests and a cozy town — anyone?. 🌲

    Parks Canada is hiring for these high-paying jobs and you can make up to $129,000

    Some positions don't require a university degree!

    Canada's new $2 coin is an actual piece of art featuring blue, yellow and orange hues

    This colourful circulation coin is historic!

    Ontario Trillium Benefit payments for September go out soon — Here's how much you can get

    More government cash is headed to Ontarians next week. 💵

    New data reveals the 'most peaceful' places to live and Canadian towns demolished US ones

    Five Canadian towns were named the most serene on the continent. 🍁

    Canadians say they don't buy these grocery items anymore because prices are too expensive

    "I've cut back on everything."

    This Ontario gem with waterfront towns and beaches is one of Canada's 'best' spots to live

    It has "large" homes "priced much lower" than major Canadian cities.

    10 charming small towns in BC that ranked as the 'best' to live in and will tempt you to move

    Small-town life at it's finest!