How do Canadian homes stack up?
A new study examines what Canadians desire in a home, and compares them to real estate in similar countries.
Canada has the third-largest average home size among eight similar countries, according to a recent survey of 29,000 people conducted by Point2Homes.
“The overall results of our survey show that respondents across all 9 countries generally think larger homes than their current ones are ideal, but the percentages of Canadians and Americans who expressed this preference are 42% and 39% respectively – smaller than with most other respondents,” Point2Homes said. “Does that mean Canadians are more content than everyone else when it comes to living space conditions?
“Not necessarily, considering that Canadians and Americans already enjoy much larger homes than Europeans or Brazilians,” it continued. “What we could be seeing is a cool off in the race to build larger homes. 1,800 square feet might be good enough or very close to good enough for most Canadians.”
In terms of living space, Canadians enjoy the second largest among all counties surveyed – which includes the United States, Australia, Germany, France, UK, Spain, Mexico, and brazil – at an average of 618 square feet. Comparatively, Americans enjoy slightly larger living quarters at an average of 659 square feet.
The study may be of interest to investors in terms of determine what size home they should invest in. Knowing what the average desired home size is across the country will allow investors to target properties that could more desirable to a larger number of tenants.