What sacrifices would you make to buy a home?

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First time homebuyers now willing to make all kinds of concessions 

From tightening the purse strings to logging extra hours, many Canadians are willing to make sacrifices to make homeownership dreams a reality this year – especially when looking to buy their first home, a new survey finds.

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“The message from many Canadians is clear – they’re going to do what it takes to step onto the property ladder,” says Wahi CEO Benjy Katchen. “While lower interest rates and new mortgage rules have improved housing affordability somewhat, many Canadian homebuyers are taking a more proactive approach.”

In its 2025 Homebuyer Intentions Survey of Angus Reid Forum members, the digital real estate platform asked Canadians what lengths they’d be willing to go to buy a home. The results show more prospective buyers plan to take significant steps to purchase a home this year compared to 2024.

“What’s interesting going into 2025 is how intentions have changed, with an even greater proportion willing to make the stretch to make homeownership a reality,” Katchen says. According to the survey:

• 53 per cent plan to cut back on spending, an increase from 45 per cent.
• 31 per cent intend to alter their investment strategies, up from 21 per cent.
• 30 per cent will work extra hours compared to 21 per cent, with gig work interest rising from eight to 10 per cent.
• 10 per cent are considering side jobs, like driving an Uber, up from eight per cent.

First-time homebuyers are more flexible when it comes to making concessions to afford a home compared to non-first-time home buyers. The survey found 59 per cent are willing to cut back on spending, compared to 47 per cent of non-first-time homebuyers.

That’s not all. Thirty-seven per cent of first-time home buyers are open to changing investments, compared to 27 per cent of their non-first-time counterparts. The same percentage of first-time buyers are open to the idea of working longer hours to buy a home, compared to 24 per cent of non-first-time homebuyers.

Those aren’t the only concessions prospective buyers are willing to make: 73 per cent are considering different neighbourhoods or types of homes; 57 per cent are willing to consider a different type or style of home; and 55 per cent are comfortable living farther from amenities like schools and shopping.

That’s no surprise. “People have an idea of what they think they want and then reality often hits once they start to figure out what they can actually afford or what they can do inside their comfort zone,” Katchen says. “It’s the difference between the dream and reality.”

While nearly 17 per cent of Canadians say they’ll likely buy a home this year, millennials show the strongest buying intentions, with 23 per cent indicating plans to purchase a home in 2025, followed by Gen Z (20 per cent), Gen X (18 per cent), and baby boomers (10 per cent).

Again, that’s no surprise. “Millennials are the cohort with young families or starting to have young families. That’s typically the age where people are trying to buy,” says Katchen. “It’s the natural life cycle.”