One in five Alberta repeat homebuyers are looking for houses they don’t plan to live in, according to a report released today.
Compared to other Canadians, Albertans are twice as likely to be shopping for a vacation home (13 per cent vs. five per cent nationally) and another six per cent want to buy a rental property, said the TD Canada Trust
Repeat Home Buyers Report, which surveyed Canadians who have purchased or intend to buy a home that is not their primary home.
“In Alberta, we’ve seen a buyers’ market develop and many repeat buyers have been able to take advantage of opportunities because of the equity they’ve built in their current home,” said Jesse Bilodeau, a Calgary-based TD Canada Trust mobile mortgage specialist, to the Calgary Herald. “Many Alberta homeowners have paid off their mortgage, giving them the freedom to take advantage of opportunities in the market.”
Albertans are the most likely in the country to own their current home without a mortgage (41 per cent vs. 32 per cent).