Making Money Minute with Ron Hiebert - First Time Homebuyers

A recent CMHC Mortgage Survey, uncovered some interesting trends among first time home buyers. 64% of them, rented prior to buying their first home, while 35%, formerly lived with friends or family. Those that rented, did so for 6.3 years before purchasing a home. On average, first timers had to save 3.4 years for their down payment. 35% of newbie home buyers, were helped with their downpayment by a gift or inheritance - the average size of which was whopping $79,127. Interestingly, half of these first-timers, shared the purchase of their home, with someone other than their partner or spouse (54%).

Ver todos los episodios