(778) 668-9320 scott.dawson@verico.ca

The TD Canada Trust Repeat Home Buyers Report was conducted in June 2011 and surveyed 1,025 Canadians who have either purchased a home that was not their first home within the past 24 months, or intend to purchase a home that is not their first home within the next 24 months.

The research report shows Canadians intend to spend less time in their current home. When planning a move it’s important to find out what your mortgage options are when you are selling your home. Many sellers don’t realize that their mortgage is assumable and might be a good selling feature to offer.

Some of the more interesting findings from the report include:

  • The number of people intending to buy a home that is not their first in the next two years increased nearly ten percentage points over 2010 (74% versus 65% in 2010).
  • Nearly three in ten Canadians (27%) who planned to sell their home didn’t know they had options when it came to their mortgage. This year, that number decreased to only 9%.
  • 63% of Canadians have a mortgage on the home they are moving from and 69% will take out a mortgage on their new home.
  • 7 in 10 repeat home buyers move earlier than they originally intended
  • The full TD Canada Trust Repeat Home Buyers Report is available here.