According to the 2011 TD Canada Trust Repeat Home Buyers Report, Ontarians are moving more often and earlier than they originally planned.
The report revealed that two-thirds of Canadian repeat home buyers are moving on to larger and more luxurious homes. It also revealed that home buyers were moving much earlier than originally intended, indicating that Canadians don’t stay in one place for too long. Seven out of ten repeat home buyers are moving up in the housing market.
According to the report, there were a few features that Canadians felt they had compromised on when they purchased their previous home that they don’t intend on budging on this time around. The top five features that Canadians felt they compromised on were indicated as “price (34%), layout of home (33%), features of home (31%), garage or sheltered parking (30%) and number of bedrooms (28%).
It is important that when considering another move that buyers really consider what features and factors are deal breakers for them. Also consider upcoming changes in lifestyle and needs. Sometimes it can be more affordable to renovate your own home.
SOURCE: 2011 TD Canada Trust Repeat Home Buyers Report http://www.smrmediaroom.ca/TDRepeatBuyers.html
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