A new Zown survey maps the financial barriers standing between young Canadians and homeownership
For many young Canadians, the aspiration to own a home is not in doubt. What is increasingly uncertain is whether the financial foundations are there to support it.
A new survey puts those anxieties in sharp relief. Conducted by Toronto-based AI-powered real estate brokerage Zown and the Angus Reid Forum between October 14 and October 16, 2026, the 2026 Zown Homeownership & Financial Confidence Survey polled 1,500 adult Canadians.
It found that 82% of respondents aged 18 to 34 lacked confidence in at least one financial aspect of the homebuying process. That compares with 35% of those aged 35 to 54 and 50% of Canadians 55 and older who felt fully confident across the board.
Only 18% of those in the youngest cohort said they felt equipped to handle every financial dimension of a purchase.
Young buyers named saving and planning for a down payment (19%) and understanding ongoing ownership costs (19%) as the weakest points, followed by knowing how much home they could afford (18%), awareness of government incentives and programmes (14%), and calculating closing costs (10%).
Young Canadians lacking confidence in at least one homebuying area
82%
Aged 18–34 who feel fully confident across all aspects of buying
18%
Canadians who tapped into long-term savings in the past year
40%
Areas of lowest confidence — Canadians aged 18–34
% who identified this as an area of low confidence
Areas of lowest confidence — prospective buyers who have never owned
% who identified this as an area of low confidence
Source: 2026 Zown Homeownership & Financial Confidence Survey — Zown / Angus Reid Forum — 1,500 adult Canadians — October 14–16, 2026 — margin of error ±2.53 percentage points, 19 times out of 20
Savings drawn down to meet everyday costs
Some 40% of Canadians dipped into long-term savings over the past year to cover ordinary expenses — 29% for emergencies, 22% for groceries and everyday purchases, and 13% for regular housing costs including rent or mortgage payments.
As Canadian Mortgage Professional’s reporting on Canada’s housing affordability challenges facing mortgage shoppers has shown, improving macro-level conditions in prices and rates have yet to relieve household-level financial strain.
Alberta led regionally at 48%, followed by Saskatchewan and Manitoba at 44% combined, Ontario and British Columbia at 41% each, Atlantic Canada at 35%, and Quebec at 34%.
“Housing affordability isn’t just about the price of a home. It’s also about whether Canadians can afford to become homeowners in the first place,” said Rishard Rameez, founder and chief executive officer of Zown, in Toronto.
“We’re asking people to save tens of thousands of dollars for a down payment when they’re already drawing on their savings to cover everyday expenses. That’s a fundamental challenge we can’t afford to overlook.”
Chris Allard of Smart Debt Mortgages says many borrowers are focusing on their personal finances and affordability rather than trying to predict the next twist in trade tensions or interest rates. https://t.co/lFVdypu2V5
— Canadian Mortgage Professional Magazine (@CMPmagazine) October 27, 2026
What brokers can offer underprepared clients
The confidence gap is steepest among those with no ownership history: only 13% of Canadians who have never owned a home but haven’t ruled it out say they feel prepared across all financial aspects, versus 46% of current homeowners.
Christa Tessier, broker and co-owner of Mortgage Advisors, previously told CMP that limited savings and elevated debt-to-income ratios are leaving many clients unable to qualify under standard lender requirements.
“Borrowers should focus on reducing debt as much as possible and maintaining good credit habits such as paying bills on time and keeping credit utilization low,” she said.
“Saving diligently for a down payment, closing costs, and a financial cushion can make a significant difference.”
Brokers who invest in that preparation work are starting to see results. Sarita Free, a mortgage agent with Mortgage Powered Financial Group in Norfolk County, Ontario, told CMP that 2025 and 2026 had been a turning point for buyers who had long been frozen out.
“A lot of my clients are first-time homebuyers and they’ve finally been able to break in,” she said.
“This year, I’m finding that they’re finally able to get into the market. With the 30-year amortization that we can now go to, I find a lot of my buyers that have been on the sidelines are finally able to… stay in their hometown where they’ve grown up, and not have to go elsewhere.”
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