You gotta take a lit­tle, give a lit­tle

Calgary Sun - Homes - - Homes - Myke Thomas CAL­GAR­Y­SUN

A mix­ture of logic and dreams makes up ev­ery de­ci­sion to buy a new home, with com­pro­mises lead­ing up to tak­ing pos­ses­sion.

The 2018 Mod­ern Fam­ily Home­own­er­ship Trends sur­vey and re­port found only 18 per­cent of fam­i­lies said they had not made any com­pro­mises in the homes they pur­chased.

Of the other 82 per­cent, the main com­pro­mises made are go­ing over bud­get, buy­ing a home that needs more ren­o­va­tions than de­sired, buy­ing an older prop­erty and hav­ing less yard space, with slightly less than 20 per­cent of fam­i­lies cit­ing these fac­tors as be­ing among their top three com­pro­mises.

To com­pile the re­port, Mus­tel Group and Sotheby’s In­ter­na­tional Realty Canada sur­veyed home­own­ers in Van­cou­ver, Cal­gary, Toronto and Mon­treal about var­i­ous as­pects of home­own­er­ship, in­clud­ing the top three com­pro­mises they made.

The most fre­quently cited com­pro­mises var­ied slightly across the ma­jor met­ro­pol­i­tan ar­eas.

In Van­cou­ver, buy­ing a home above tar­get bud­get, with less than de­sired yard space and buy­ing an older home, are the top three com­pro­mises re­ported, at rates of 23 per­cent, 22 per­cent and 18 per­cent re­spec­tively.

In Cal­gary, fam­i­lies re­ported ex­ces­sive price, yard space and dis­tance from city cen­tre/down­town as the lead­ing com­pro­mises, at rates of 23 per­cent, 21 per­cent and 20 per­cent re­spec­tively.

Toronto fam­i­lies re­ported the need for ren­o­va­tion (20 per­cent), above bud­get home price (19 per­cent) and square footage (19 per­cent) as their key com­pro­mises.

Prop­erty age (22 per­cent), lack of garage (20 per­cent) and dis­tance from the city cen­tre/down­town core (19 per­cent) were cited as the most fre­quent com­pro­mises made by fam­i­lies in Mon­treal. Mon­treal’s mod­ern fam­i­lies are the least likely to com­pro­mise their tar­get bud­get when buy­ing a home at a level of 12 per­cent.

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