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
  • 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

As mortgage decisions get harder, professional advice can help cut through the confusion

Here's how speaking to an expert can give you clarity.

Canada's housing market is set to get cheaper and 5 cities are dropping more than Toronto

A buyer's market is finally taking shape across much of Canada. 🏡

Carney launched a new housing plan and people think it looks straight out of North Korea

The new catalogue of pre-approved house designs is giving Soviet-era Sims. 🏘️

Canada's top trending city for renters was revealed and it's not Toronto, Vancouver or Montreal

You'll probably never guess...

9 reasons you can legally take time off work in Ontario without using vacation days

Know your rights! ⚖️

This new Canadian coin looks like a silver penny but it's worth so much more

It's enhanced by "frostings" so it shimmers!

8 Ontario snow laws you might not know you can get fined up to $2,000 for breaking

Some of them also have time limits — so you'd better get shovelling. ❄️⏳

CSIS is hiring for these jobs in Canadian cities and you can make up to $106,000 a year

Some positions don't require a degree.

This picturesque Ontario town nestled between 2 lakes is one of Canada's 'best' spots to live

It offers quaint streets and scenic surroundings.

Northern lights could shine across most of Canada tonight, including southern Ontario

Some places are forecast to see a "more intense" aurora!

11 Air Canada jobs that pay up to $44 an hour and get you travel perks

You don't have to travel for work to get these travel perks! ✈️

This new Canadian coin is a loonie with a different design and here's how to get it

It's called the "Lucky Loonie."

8 bucket-list destinations Canadians are actually urged to avoid in 2026

Your 2026 bucket list might need some editing. 👀

Ontario's 'best' provincial park has sparkling beaches and 10 km of powdery shores

It's a summer paradise.