April 9, 2013
The average first-time homebuyer in Canada is 29 years old and expects to be able to put down a down payment of $48,000 on $300,000 home, according to a recent poll by the Bank of Montreal.
But the study, released Tuesday, also found that price expectations vary widely, depending on where the homebuyer lives in.
Those in Atlantic Canada say they expect to spend an average of $224,000 on a first home, while those in British Columbia anticipate to pay an average of $454,000.
Vancouver topped the survey as the most expensive city, with buyers there saying they're going to shell out an average of $539,000 for a home, followed by Calgary at $474,000 and Toronto at $446,000.
Read more: http://www.vancouversun.com/business/homebuyers+they+expect+spend+first+property+poll/8215920/story.html#ixzz2Pz7D2pSH