Majority of Quebec Home Buyers Stay in their First Home More than a Decade
Trust. "I advise first time home owners to consider a larger down payment because a 10% or greater down payment will make a big difference. It may mean that you need to save longer before buying your first home, but it will pay off in the end. Speak with a representative at your bank about setting up an automatic savings plan to help you save."Type of home and home attributes:
Eighty-one per cent of first time home buyers would prefer a new home over an old home, but they are evenly split on location. Fifty-four per cent would prefer a smaller home closer to work and 46% would prefer a larger home with a longer commute. While the majority prefer detached homes, 23% chose a condo, 17% prefer town homes and 11% seek a semi-detached home.
Not surprisingly all Quebecers say price is the most important factor when considering what kind of home to buy and where. The second and third most popular were features of the home (95%) and layout of the home (92%). Quebecers are the least likely in the country to consider proximity to work as a reason for purchasing a home (76% versus 86% nationally).
In the early '90s in Montreal, everyone working in culture seemed to be on social assistance. At the time, there was a six-month program to get people off