Size matters less than quality to homebuyers

Canadian homebuyers are willing to compromise on the size of their new home but some things are not negotiable, according to a new survey

The Canadian Home Builders’ Association's inaugural survey of the preferences of recent homebuyers found that 35 per cent would like a single-family detached two-storey home; however, while 22 per cent would adjust their size requirements none would lower expectations of quality or energy efficiency.

The ‘must-haves’ in a new home include walk-in closets and energy-efficient appliances; both were considered vital by 68 per cent.

More than half (53 per cent) of the 12,000 respondents said that their community should have walks, and cycle paths and parks were also important for 41 per cent.

The demographic of those buying homes, including first-home buyers, is dominated by generation X (46 per cent) with millennials (gen Y) making up 38 per cent. Unmarried couples with no kids make up a large percentage of all buyers of new homes.