82% of young Canadians unsure about some homebuying finances: survey | Daily Hive

Elena Alex Ferns/Shutterstock

More than four in five young Canadian adults lack confidence in at least one financial aspect of buying a home, according to a new survey conducted by polling firm Angus Reid for real estate brokerage Zown.

The uncertainty extends beyond putting together a down payment, with younger Canadians also struggling to understand what they can afford and the expenses that come after a purchase.

Among Canadians aged 18 to 34, just 18 per cent felt confident handling every financial aspect of buying a home. That compares with 35 per cent of respondents aged 35 to 54 and 50 per cent of those aged 55 and older.

For younger adults, saving and preparing for a down payment and understanding ongoing costs after buying were each identified as areas of lowest confidence by 19 per cent. Another 18 per cent were least confident about determining how much home they could afford.

Knowing which homebuyer programs or incentives they qualified for accounted for 14 per cent, while understanding closing costs accounted for 10 per cent.

The divide was particularly pronounced between existing homeowners and people who had never owned a home but had not ruled out buying one.

Only 13 per cent of the latter group felt confident across all financial aspects of a purchase, compared with 46 per cent of current homeowners.

Among these potential first-time buyers, 30 per cent identified saving and planning for a down payment as their area of lowest confidence. That was followed by 18 per cent on determining what they could afford, and 14 per cent on understanding ongoing ownership costs.

The survey also found that 40 per cent of Canadians had used long-term savings to cover expenses or unexpected costs over the previous year.

Among respondents who accessed those savings, 29 per cent used the money for emergencies or unexpected expenses, 22 per cent for groceries and everyday purchases, and 13 per cent for recurring housing costs such as rent or mortgage payments.

At 48 per cent, Alberta had the highest reported share of respondents drawing on long-term savings among the regions listed. Saskatchewan and Manitoba combined followed at 44 per cent, while British Columbia and Ontario were each at 41 per cent. The figures were 35 per cent in Atlantic Canada and 34 per cent in Quebec.

The online survey was conducted from Oct. 14 to 16, 2026, among 1,500 Canadian adults who belong to the Angus Reid Forum. The margin of error is +/-2.53 per cent, 19 times out of 20.

You might also like: