Fixer-uppers, commutes: Many making trade-offs to buy homes, report says

Posted October 7, 2026 11:48 am

Updated October 7, 2026 11:49 am

2 min read

2:12 Business Matters: Big cities seeing dip in Canadian housing market

It’s no secret that buying a home feels like a distant dream for a large chunk of Canadians, but many are looking to get a foot through the housing market by going for homes that need a little time, love and commitment.

Nearly two-thirds (65 per cent) of Canadians say they are willing to make a compromise to be able to afford a larger home or one more suitable for their family, a survey by real estate firm REMAX has found.

This includes either living farther from a city centre or considering an older home that requires renovations, it adds.

“Rather than giving up on homeownership, Canadians are making different choices about how to get there,” said Don Kottick, president of REMAX Canada.

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“For some, that means looking outside their current community or reconsidering the type of home they buy. For others, it means making different financial choices. Buyers are identifying what matters most and where they have room to be flexible,” he said.

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Location is the biggest area of flexibility, with nearly half (47 per cent) saying they would be willing to move up to an hour from their current community and 16 per cent saying they would move even further.

Nearly one-third (31 per cent) said they would move away from the city centre, while 21 per cent said they would live far from shops, restaurants and other amenities to be able to afford a home.

But many are considering the property itself. One in five (20 per cent) say they would consider buying an older property that requires significant renovations.

Canadians are also making financial trade-offs, with 41 per cent saying they would cut discretionary spending such as travel or dining out to afford a home and nearly a quarter (24 per cent) saying they would consider a longer amortization period to be able to afford monthly payments.

The Bank of Mom and Dad remains important for many, with 20 per cent saying they would accept help from family. On the other hand, 17 per cent said they would take on a second job to be able to afford a home, and a similar percentage said they would delay their retirement or other long-term savings plans.

In some markets, homebuying is becoming easier for new entrants but challenges remain, REMAX says.

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In 81 per cent of the markets analyzed in the REMAX report, home sales have been declining between January and June of 2026. However, home prices have steadily increased for more than half (56 per cent) of these housing markets.