For generations, the roadmap to adulthood in Canada followed a predictable, albeit demanding, trajectory: finish your education, secure an entry-level job, rent an apartment for a few years, and by your mid-to-late twenties, unlock the front door of your very first home. That milestone, long considered a cornerstone of financial stability and middle-class security, is undergoing a profound and sobering transformation.
Today, buying a first home is increasingly becoming a milestone for Canadians in their forties rather than their twenties. The dream has not necessarily vanished, but the timeline has stretched so dramatically that the entire structure of the Canadian housing market—and the societal expectations built around it—is being forced to adapt.
According to a comprehensive new poll commissioned by RBC, non-homeowning Canadians now expect to be 41 years old, on average, before they are finally able to cross the threshold into homeownership. This represents a staggering delay of a full 12 years when compared to the average age at which current homeowners report having purchased their very first property. For a generation watching home prices outpace wage growth year after year, the window to enter the market has shifted from early career stability to middle age.
Even that extended timeline remains shrouded in ambiguity and doubt. Half of the non-homeowners surveyed by Leger between August 5 and 24, 2026, admitted they have absolutely no idea when, or even if, they will ever be in a financial position to buy. This widespread uncertainty underscores the growing psychological and economic toll of Canada’s prolonged housing affordability crisis, transforming what was once a rite of passage into an elusive target.
The high barrier to entry on the housing ladder has laid bare a profound generational divide across the country. Nearly three-quarters of respondents—74 per cent—firmly believe that buying a home in the current economic climate is significantly more complicated than it was for previous generations. Meanwhile, 65 per cent of those surveyed expressed frustration that older generations simply do not understand the unique and compounding challenges facing today’s buyers. Furthermore, 52 per cent of respondents stated that the traditional homebuying advice handed down by parents and grandparents—such as saving a modest deposit while working an entry-level job—is no longer relevant in today’s market.
The Starter Home is Changing
As the timeline for homeownership shifts deeper into adulthood, the traditional concept of the "starter home" is also undergoing a fundamental evolution. For decades, the accepted wisdom dictated that young buyers should purchase a modest, lower-priced property—such as a small condominium or a fixer-upper townhouse—live in it for a few years to build equity, and then "move up" to a larger detached home as their family and income grew.
However, that traditional strategy is rapidly losing its appeal among a new generation of buyers facing high transaction costs, steep land transfer taxes, and volatile mortgage rates. Among first-time buyers who are actively planning to purchase a property within the next two years, 74 per cent indicated they would much rather buy a larger home they can stay in for the long term, rather than purchasing a smaller starter home they might quickly outgrow.
Current homeowners appear to intimately understand this shift in mindset, having navigated the grueling realities of the modern market themselves. More than half of current homeowners—52 per cent—report that the process of moving up from their first home has proven to be considerably harder than they initially expected. Additionally, 46 per cent admitted that while they would ideally like to move to a larger or different property to better suit their lifestyle, they simply cannot realistically afford to do so in the current market environment.
Brad Evjen, a senior mortgage specialist at RBC, noted that this strategy requires careful financial calculation.
"Buying a home you can stay in longer usually means stretching your budget further, so the math has to work in both directions," Evjen explained. "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."
More Buyers Considering Living with Family
Faced with relentless affordability pressures and stubborn interest rates, prospective buyers are increasingly looking beyond the traditional nuclear family model to find creative ways into the housing market. Sharing a home with family members, once viewed primarily as a temporary measure or a cultural norm exclusive to certain communities, is now being embraced across the board as a pragmatic financial strategy.
The RBC poll revealed that 53 per cent of prospective buyers who plan to purchase a home within the next two years would actively consider buying a multigenerational home. This sentiment is also shared by a significant portion of older Canadians; among current homeowners, 35 per cent said they would consider selling their existing property to buy a joint home with their adult child, effectively pooling resources to help the younger generation break into the market.
When asked about the driving forces behind this shift, 34 per cent of prospective buyers believe that multigenerational living is becoming more common primarily due to overarching affordability constraints. Meanwhile, 32 per cent view it simply as a practical, common-sense way to manage escalating housing and utility costs in an expensive economy.
Janet Boyle, senior vice-president of home equity finance at RBC, pointed out the resilience of Canadian buyers in the face of these structural hurdles.
"Canadians are finding new ways to make one of life’s biggest purchases possible," Boyle said.
Uncertainty About Timing
Beyond the logistical hurdles of saving for a down payment and qualifying for a mortgage, prospective buyers find themselves deeply divided over the exact timing of when to take the plunge into the market. Market volatility has left many paralyzed by competing anxieties about the future direction of real estate values and interest rates.
Half of prospective buyers surveyed worry that waiting too long could mean being completely priced out of the market if home prices resume an upward trajectory. Conversely, an equal share of respondents worry about the opposite scenario: purchasing a home now, only to watch property values fall shortly after closing, leaving them in a precarious financial position.
These financial pressures and anxieties are by no means restricted to those trying to enter the market for the first time. Current homeowners are also feeling the squeeze as economic conditions shift around them. Among homeowners who are scheduled to renew their mortgages within the next two years, 51 per cent reported that the renewal process feels nearly as stressful as the original experience of buying their first home. Furthermore, 60 per cent expect that their upcoming mortgage renewal will place noticeable and unwelcome pressure on their household finances.
These findings are derived from an online survey of 1,810 Canadians aged 18 to 64, which was conducted by research firm Leger between August 5 and 24, 2026.