Two-thirds of repeat homebuyers buy again and again

By
Real Estate Agent with RE/MAX Aboutowne Realty Corp., Brokerage

 
More than two-thirds of repeat homebuyers believe their next house purchase won't be their last, according to a new survey by TD Canada Trust.
 
Out of 1,000 participants, more than 23 per cent said they plan to move again within six years ago. One in five repeat buyers has owned more than five homes. The survey participants either purchased a home that was not their first within the past two years, or intend to purchase a home that is not their first within the next two years.
 
Roughly half of Canadians will look for a smaller house, while the rest want to upsize. Most intend to find a fully detached home for their next purchase.
 
As a result, 51 per cent will need to take out a mortgage to finance their next purchase, said TD.

 

Comments (1)

Gary Pike
Better Homes and Gardens Real Estate Metro Brokers - Powder Springs, GA

Interesting news from Canada.  Here in the states I've been told that our low interest rates will cut off some of the move up buyers in the future when rates are higher since it will be to expensive to move up.  Time will tell.  Good luck to you and have a great day.

Oct 02, 2010 12:38 AM