Real Estate As A Generational Wealth Builder

Real Estate As A Generational Wealth Builder

Canada’s real estate market is proving to be one of the first to rebound since counter-inflationary interest rate hikes brought real estate sales to a snail’s pace worldwide. Toronto specifically has seen a steady rebound since December’23. Today, 73% of us believe homeownership is still the best investment, but many feel it’s out of reach. The average homeowner has 40 times the net worth of the average renter.

Many homeowners who have accumulated equity can now assist the next generation with a down payment – it's one of the most practical ways to leave a financial legacy by helping an adult child or grandchild buy a home. Down payment assistance could help them buy in a neighbourhood with better schools, helping your grandkids to get ahead in life.

For those of you trying to get on the real estate ladder, maybe it’s time to talk with family about getting some help with your down payment. In the meantime, take steps to get your credit score and savings on the right path.

If you have any questions, give us a call; we’re happy to help! 


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