Statistics Canada data points to newcomers carrying steadily more financial strain in order to own a home in Canada.
The pressures are straightforward: prices remain high, the down payment is harder to save, payments are still demanding even with rates off their peak, and income, credit and tax history all take time to build.
Which is the point — preparation does not start when you are ready to buy. For newcomers and first-time buyers especially, the earlier the planning starts, the more options remain open. That is also why families looking two or three years out increasingly consider presale: not because it is cheaper, but because it buys time to assemble the down payment, build the financing file and plan cash flow before completion. It does not suit everyone, and the loan amount, deposit schedule and completion risk should be assessed up front. The video is in Chinese.
Originally published on Guaranti’s YouTube channel.