RBC data shows what's shaping the timing of Canadian home buyers and how they're adapting with multi-generational housing considerations, later timelines, a first home meant to last and seeking renewal advice.
Key Findings:
- Many first-time buyers expect to buy more than a decade later than current homeowners
- 74% of upcoming first-time buyers want a home they won't outgrow
- Half of prospective buyers worry waiting could price them out; half worry about buying and prices falling further
- Renewing a mortgage within two years? 51% say it's nearly as stressful as buying a first home
TORONTO, Oct. 14, 2026 /CNW/ -- Multi-generational living is on the table for many Canadians looking to buy a home, according to RBC's latest Home Ownership Poll. The research found that 53% of those planning to purchase their first or next home within the next two years would consider a multi-generational home (44% of all respondents). Among current owners, 35% say they would sell their current home and buy one with their child to help them get into the market.
What's driving the interest in multi-generational home ownership?
- 34% of prospective buyers say multi-generational living is becoming more common because of housing affordability (39% for all respondents)
- 32% of prospective buyers believe it's a smart way for families to manage housing costs (32% for all respondents)
- 26% of prospective buyers feel it's more out of necessity than choice (30% for all respondents)
"Canadians are finding new ways to make one of life's biggest purchases possible," said Janet Boyle, Senior Vice President of Home Equity Finance, RBC. "For many families it means doing it together by pooling funds to buy a home sooner and sharing costs. What's easy to overlook is that buying together isn't just a mortgage decision. It touches everyone's longer-term financial plans, from future purchases and tax implications to what happens when it's time to sell or pass the home on. Those conversations are much easier to have at the start, and getting holistic advice can make them simpler."
Beyond multi-generational living, three additional trends emerged from the poll:
Trend: Canadians are buying later and thinking long term
The poll found that most Canadians feel buying a home today looks very different than it did for previous generations:
- 74% believe buying a home today is more complicated than it used to be
- 65% say past generations don't understand the challenges of buying now
- 52% feel that home buying advice from previous generations is no longer true
The timeline has shifted too. While current owners say they bought their first home at age 29 on average, non-homeowners believe they will be 41 years old (on average) before they can get into the market. For 50% of non-owners, they simply don't know when they will buy.
This shift could also be changing what buyers want from a first home. Nearly three-quarters (74%) of first-time buyers planning to purchase within the next two years want a home they can stay in longer, rather than one they may outgrow. Current owners point to why: 52% say moving up is harder than expected and 46% say they would like a larger or different home but say it isn't financially realistic right now.
"Buying a home you can stay in longer usually means stretching your budget further, so the math has to work in both directions," said Brad Evjen, Senior Mortgage Specialist, RBC. "We look at what a larger purchase does to the monthly payment against what moving up in five years would cost. For some, the bigger first home is the better decision. For others it isn't, and it's worth knowing which of those two scenarios fits your situation before you start looking."
Trend: Buyers are torn between the fear of missing out and the fear of overpaying
Among prospective buyers, the poll found that deciding when to enter the market comes with competing concerns about where home prices could go next. Half (50%) worry that waiting to buy could leave them priced out if prices rise, while an equal number (50%) worry about buying now only to see prices fall.
"Canadians are trying to make one of life's biggest decisions in a complex market, and that's genuinely difficult," adds Boyle. "What matters most is focusing on what you can control: what you have for a down payment, what you're comfortable covering month-to-month and what you want the home to do for you over the next several years. Those are the questions worth working through with a mortgage advisor early in the home buying journey."
Trend: Financial pressure extends to homeowners facing mortgage renewals
For current homeowners renewing within the next two years, the poll found that 51% say it feels almost as stressful as buying their first home.
Three factors behind mortgage renewal stress:
- Rate uncertainty: 82% are concerned about interest rate increases in the coming year
- Household budgets: 60% expect their next renewal to strain their household finances
- Timing: 42% wish they had started planning for their renewal earlier
Against that backdrop, the appetite for guidance is clear: 84% of respondents who will be renewing within two years say having the right advice makes all the difference.
RBC answers four common questions Canadians are asking about buying and renewing today:
1) How much home should I buy?
Enough to suit your life for as long as you plan to stay, within a payment you're comfortable carrying. It's important to remember that what you qualify for isn't always what you want to spend monthly, and total costs extend beyond the mortgage, covering taxes, insurance, utilities and maintenance. As a guideline, no more than 30% to 32% of your gross annual income should go to mortgage expenses, such as principal, interest, property taxes, heating costs and condo fees.
2) Can I buy a house with my parents or family members?
Yes, you can buy a home with parents or other family members by applying for a mortgage together as co-borrowers. Lenders assess everyone's income, debts and credit together, which can increase how much you can borrow. Each co-borrower is responsible for the full mortgage, not just their share, and co-borrowers' names appear on the property's title. Before applying, agree on:
- Who will be on the mortgage and the title
- How each person's down payment contribution will be documented
- How monthly costs will be split
- What happens if someone wants to sell or their circumstances change
3) What happens if my mortgage renews at a higher rate?
If your mortgage renews at a higher rate, your monthly payment will likely increase. For example, on a $478,000 mortgage with a 25-year amortization, a fixed rate, at renewal, rising from 2% to 5% would increase the monthly payment from $2,024 to $2,631, about $600 more a month.
There are ways to help manage the change. Making a lump-sum payment, doubling up payments or increasing your regular payment before renewal can reduce your principal. Other options include adjusting your amortization, term or payment frequency. Knowing your numbers early and talking with a mortgage advisor gives you more time to plan.
4) What resources are available to help me buy a home or renew my mortgage?
RBC offers tools and advice for every stage of home ownership. Find helpful resources, tools and advice on mortgages, renewals and homebuying at RBC My Money Matters and on REALTOR.ca as part of RBC's partnership to bring trusted homebuying advice and financial education to Canadians. Explore your options and connect with an RBC Mortgage Advisor at RBC Mortgages.
Fast Facts: RBC Home Ownership Poll (Selected Findings)
|
RESPONSE (% YES) |
CAN |
BC |
AB |
MB/ SK |
ON |
QC |
ATL |
INTEND TO PURCHASE WITHIN 2 YEARS |
FIRST- TIME BUYERS |
|
I would consider living in a multi-generational home |
44 % |
54 % |
45 % |
39 % |
40 % |
46 % |
45 % |
53 % |
57 % |
|
RESPONSE (% AGREE) |
CAN |
BC |
AB |
MB/ SK |
ON |
QC |
ATL |
INTEND TO PURCHASE WITHIN 2 YEARS |
FIRST- TIME BUYERS |
|
Multi-generational living is becoming more common because of housing affordability |
39 % |
40 % |
39 % |
39 % |
42 % |
32 % |
36 % |
34 % |
35 % |
|
Multi-generational living is a smart way for families to manage housing costs |
32 % |
28 % |
38 % |
41 % |
31 % |
30 % |
36 % |
32 % |
35 % |
|
Multi-generational living feels more like a necessity than a choice |
30 % |
32 % |
30 % |
22 % |
35 % |
23 % |
34 % |
26 % |
29 % |
|
Buying a home today is more complicated than in previous generations |
74 % |
72 % |
73 % |
74 % |
75 % |
73 % |
74 % |
77 % |
77 % |
|
I don't think past generations can understand the challenges of buying a home today |
65 % |
65 % |
67 % |
64 % |
68 % |
58 % |
65 % |
71 % |
77 % |
|
Home buying advice from previous generations is no longer true |
52 % |
51 % |
50 % |
50 % |
55 % |
51 % |
49 % |
59 % |
60 % |
|
The idea of a "starter home" has changed compared to previous generations |
71 % |
73 % |
73 % |
65 % |
72 % |
66 % |
73 % |
77 % |
77 % |
|
I would rather buy a home I can stay in longer than one I may outgrow |
61 % |
54 % |
63 % |
67 % |
58 % |
68 % |
60 % |
72 % |
74 % |
|
WHICH OF THE FOLLOWING WORRIES YOU THE MOST? |
CAN |
BC |
AB |
MB/ SK |
ON |
QC |
ATL |
INTEND TO PURCHASE WITHIN 2 YEARS |
FIRST- TIME BUYERS |
|
Purchasing a home now, only for prices to fall afterward |
38 % |
40 % |
37 % |
31 % |
41 % |
34 % |
36 % |
50 % |
47 % |
|
Holding off on buying now, only for prices to rise and being priced out |
62 % |
60 % |
63 % |
69 % |
59 % |
66 % |
64 % |
50 % |
53 % |
|
RESPONSE (% CONCERNED) |
CAN |
BC |
AB |
MB/ SK |
ON |
QC |
ATL |
MORTGAGE RENEWAL WITHIN 2 YEARS |
|
I'm concerned about interest rate increases in the coming year |
65 % |
59 % |
76 % |
67 % |
69 % |
56 % |
67 % |
82 % |
|
HOMEOWNER RESPONSE (% AGREE) |
CAN |
BC |
AB |
MB/ SK |
ON |
QC |
ATL |
MORTGAGE RENEWAL WITHIN 2 YEARS |
|
I would be willing to sell my home and buy a multi-gen home with my child so they can get into the market |
35 % |
38 % |
33 % |
N/A |
35 % |
37 % |
37 % |
43 % |
|
I'd like to move to a larger/ different home, but it's not financially realistic right now |
46 % |
47 % |
47 % |
N/A |
51 % |
35 % |
35 % |
61 % |
|
It is harder to move up from a first home than I expected |
52 % |
52 % |
47 % |
N/A |
55 % |
49 % |
46 % |
61 % |
|
Renewing my mortgage feels almost as stressful as buying my first home |
46 % |
50 % |
48 % |
N/A |
48 % |
35 % |
52 % |
51 % |
|
I wish I started planning for my renewal earlier |
39 % |
45 % |
37 % |
N/A |
36 % |
35 % |
43 % |
42 % |
|
I expect my next mortgage renewal to increase pressure on my household finances |
47 % |
55 % |
46 % |
N/A |
51 % |
38 % |
42 % |
60 % |
|
Having the right advice makes all the difference when getting or renewing a mortgage |
81 % |
80 % |
79 % |
N/A |
82 % |
80 % |
79 % |
84 % |
|
*First-time Buyer: Non-owners who intend to purchase their first home within two years. |
Disclaimer
This news release is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
About the RBC 2026 Home Ownership Poll
An online survey of 1,810 Canadians aged 18 to 64 was completed between August 5 and 24, 2026, using Leger's online panel. Leger's online panel has approximately 500,000 members nationally and has a retention rate of 90 per cent. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1810 respondents would have a margin of error of ±2.3%, 19 times out of 20.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 105,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
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Media contact:
Matt Trocchi, RBC
SOURCE RBC Royal Bank
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