Tag Archives: secured lending
Young see condos as homes to raise kids
Younger Canadians are looking at condos as more than just starter homes — many are willing to stay and raise families in them. That’s one of the findings of a recent Ipsos Reid survey conducted on behalf of TD Bank which surveyed 2,125 adults aged 25 to 59 living in Toronto, Vancouver, Montreal, Calgary and Ottawa.
Respondents were asked if they would consider living in a condo if they were planning to start a family and raise children. Canadians aged 25 to 44 indicated they are much more likely to consider raising a family in a condo than are those 45 to 59 (22% vs. 13%).
In the survey, conducted from April 27 to May 12, people 25 to 34 were the most likely to agree with the statement “Living in a condo is suitable for families with very young children” (46% vs. 40% among those aged 35 to 59).
“Attitudes towards families and condos may be shifting among younger people in urban centres,” said Chris Wisniewski, group product manager, real estate secured lending, TD Canada Trust. “Younger Canadians who bought condos as their first step into the housing markets have grown accustomed to the numerous benefits of the condo lifestyle, and many are considering extending them into the next phase of their lives.”
Condo popularity is growing.
The survey also found 35% of those polled are likely to consider purchasing a condominium as their primary residence. Their reasons:
* condos are easier to maintain (69%)
* affordability (57%)
* attracted to the “condo lifestyle” (45%)
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