Here are some highlights from TD Canada Trust’s 2011 Repeat Home Buyers Report to help you gear up for September!
B.C. residents move a lot!
Three quarters of British Columbian repeat buyers are moving earlier than they expected
The top five features that British Columbians felt they compromised on when they purchased their previous home that they are not willing to budge on this time are number of bedrooms (34%), price (30%), features of home (30%), layout of home (28%) and number of bathrooms (26%).
37% of British Columbians are likely to have considered a Home Equity Line of Credit (HELOC). Of those who would consider, nearly half would use it for the purposes of a renovation (47%) and 44% would like to have it simply as a cushion
The large majority (81%) plan to sell their current home and of those who are selling, four in five expect to sell at or above asking price (versus 62% in 2010).
Among those who have purchased a second home and do not plan to sell their previous home:
- They are more likely this year to say the new home they’re buying will be a vacation home (15% versus 10%) or that a family member will be moving into their previous home (15% versus 3%).