Affordability gaps are pushing buyers to pool resources, wait longer, and worry more at renewal
Multi-generational living is emerging as a mainstream strategy among Canadian homebuyers, with 53% of prospective buyers open to a shared-generation home, according to RBC’s 2026 Home Ownership Poll.
The survey of 1,810 Canadians aged 18 to 64, conducted between August 5 and 24 using Leger’s online panel, also found that 35% of current homeowners would sell and co-purchase with an adult child to help the next generation enter the market.
Janet Boyle, Senior Vice President of Home Equity Finance at Royal Bank of Canada in Toronto, said shared purchases carry more complexity than many buyers anticipate.
“Buying together isn’t just a mortgage decision,” Boyle said.
“It touches everyone’s longer-term financial plans, from future purchases and tax implications to what happens when it’s time to sell or pass the home on. Those conversations are much easier to have at the start, and getting holistic advice can make them simpler.”
Among those open to multi-generational arrangements, 34% cited housing affordability as the primary driver, 32% viewed it as a cost-management strategy, and 26% described it as necessity rather than choice.
Buying later, thinking longer term
The poll also documented a stark generational gap in homebuying timelines. Current owners purchased their first property at an average age of 29; non-owners expect to wait until 41, and half have no expected timeline at all.
That gap is reshaping what buyers want. Nearly three-quarters (74%) of first-time buyers planning to purchase within two years want a property they can stay in long term rather than one they may outgrow.
As younger Canadians increasingly question whether homeownership is achievable, getting that first purchase right carries more weight than ever.
Brad Evjen, Senior Mortgage Specialist at RBC, said buying for the long term adds financial pressure.
“Buying a home you can stay in longer usually means stretching your budget further, so the math has to work in both directions,” Evjen said.
The data reflects a shift brokers should already be making in how they approach every client conversation.
“A mortgage broker agent has to spend the time not just focused on the transaction, but working on the education piece,” Tracy Valko, founder of AIMI Mortgage Collective, said during MortgageFest 2026.
“What’s the plan for the client, not just to get into the home, but what does it look like for the next three to five years?”
That long-term lens, she argued, is now the defining difference between rate agents and trusted advisers.
“As an industry, we got away from where it was about transactions and how many deals you did. Now it’s about focusing on that financial plan and strategy for that client, building that long-term financial relationship. So you look like a true expert and not just a rate agent.”
Renewal stress rises
For existing homeowners, the pressures extend to renewal. Among those renewing within two years, 51% describe the experience as nearly as stressful as buying their first home.
Rate concerns are the primary driver: 82% are worried about interest rate increases in the coming year, 60% expect renewal to strain household finances, and 42% wish they had started planning earlier.
A further 84% of respondents approaching renewal said the right advice makes all the difference. Mortgage brokers are turning the renewal conversation into one about cash flow, amortization, and long-term financial strategy.
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