Owning a home isn’t something that most Canadian millennials can afford. But if two people are lucky enough to join bank accounts, it just might be possible. And a new survey says that buying a home in Canada is so important that millennials think it’s even more essential than good looks.
The HSBC-sponsored survey spoke to 1,077 Canadians aged 21 and above and asked them questions about everything, from what kind of home they’d want to own with their partners to what was the biggest source of tension when buying a home. Unsurprisingly, they found the majority of us – 61 percent – feel anxious about buying property.
"The anxiety millennials (and others) feel is justified," said Barry Gollom, a Senior VP at HSBC Bank Canada. "It's good to be a little nervous about the biggest purchase you'll likely ever make."
While this kind of prioritization can be practical, it definitely has its downsides. The survey found that 16 percent of the participating Canadian millennials have stayed in bad relationships because the real estate was just too good to lose.
But millennials aren’t completely concerned with real estate; the number one thing Canadian millennials care about when choosing a partner, according to the survey, was shared interests and hobbies (27 percent) followed by intelligence (17 percent) and humour (14 percent).
However, 22 percent prioritized their future living situations, citing shared financial goals (11 percent), property aspirations (10 percent), and current or soon-to-be home-owners (2 percent) as major dealbreakers.
Appearance only clocked in at three percent. After all, it’s what’s on the inside (of the house) that counts.
Disclaimer: Cover photo used for illustrative purposes only.