Homeownership in Canada: Why Most Buyers Would Do It Again
Team Olivieri
Monday, October 26, 2026
With everything going on, it’s understandable if you’re wondering whether you’d regret buying a home right now.
Everyday expenses cost more. Mortgage rates are higher than many people would like. And when the economy feels uncertain, taking on a mortgage can feel like a much bigger leap.
But here’s some perspective that may help.
Most people who already made that leap would do it again.
According to a recent NerdWallet Canada survey, while some homeowners expressed regrets related to costs or maintenance, the majority did not say they regretted buying their home. In fact, only a small share pointed to declining home value or overpaying as their main regret.
That matters — because homeownership is not just about today’s rate or this month’s payment.
It’s a long-term decision.
When you’re deciding whether to buy, it’s easy to focus on what’s happening right now.
What’s today’s mortgage rate?
Are prices going up or down?
Will the market change next year?
Those things matter. But don’t get so caught up in trying to buy at the perfect moment that you miss the bigger picture.
A home isn’t typically something you buy for just a year or two. It’s a longer-term play. And when you zoom out, it starts to fall into perspective — especially when you look at home prices and equity.
In Canada, home prices have generally risen over the long term, even though there have been periods of correction and slower growth along the way. The Canadian Real Estate Association’s benchmark price index has moved through cycles, but homeownership has historically remained one of the main ways Canadians build wealth over time.
That appreciation, combined with paying down your mortgage, is how equity grows.
Equity is the difference between what your home is worth and what you still owe on your mortgage.
As you make mortgage payments and your home’s value changes over time, your ownership stake can grow.
That equity can eventually become a powerful financial resource.
If you decide to sell, the equity you’ve built over time comes back to you in the sale. If it’s time to upsize, downsize, or relocate within Southwestern Ontario, that equity can help fund the down payment on your next home.
That is one of the biggest benefits of homeownership.
It is not just about having a place to live. It is about building an asset over time that can support your next chapter.
The five-year numbers are impressive in many markets. But the numbers become even more meaningful when you look at decades instead of individual market cycles.
Home prices do not rise every single year. And buying is not automatically the right decision for everyone today.
You should only buy when the numbers — and the payment — work for you.
But what long-term data does show is why trying to perfectly time the market can cause you to miss the bigger picture.
Over time, homeowners gain equity. And that equity can eventually support future moves, renovations, or other financial goals.
Prices can dip. They have before. But historically, Canadian home prices have risen far more over the long run than they have fallen.
And the longer you own your home, the more time you have to ride out those ups and downs and keep building equity.
That does not mean you should buy a home you cannot comfortably afford. It means you should not let short-term uncertainty make you lose sight of the bigger picture.
There is no perfect time to buy.
There is only the right time for you — when your income, savings, monthly payment, and long-term plans line up.
For some people, that means buying now. For others, it means waiting a little longer and continuing to save.
The important part is making the decision with a clear understanding of what homeownership can do over time.
If you’re wondering whether buying makes sense for you right now, let’s look at the numbers together — and what owning a home could mean for you in the years ahead.
Because for many Canadians, homeownership is still one of the most meaningful long-term financial decisions they can make.
Everyday expenses cost more. Mortgage rates are higher than many people would like. And when the economy feels uncertain, taking on a mortgage can feel like a much bigger leap.
But here’s some perspective that may help.
Most people who already made that leap would do it again.
According to a recent NerdWallet Canada survey, while some homeowners expressed regrets related to costs or maintenance, the majority did not say they regretted buying their home. In fact, only a small share pointed to declining home value or overpaying as their main regret.
That matters — because homeownership is not just about today’s rate or this month’s payment.
It’s a long-term decision.
Homeownership Is a Long-Term Play
When you’re deciding whether to buy, it’s easy to focus on what’s happening right now.What’s today’s mortgage rate?
Are prices going up or down?
Will the market change next year?
Those things matter. But don’t get so caught up in trying to buy at the perfect moment that you miss the bigger picture.
A home isn’t typically something you buy for just a year or two. It’s a longer-term play. And when you zoom out, it starts to fall into perspective — especially when you look at home prices and equity.
In Canada, home prices have generally risen over the long term, even though there have been periods of correction and slower growth along the way. The Canadian Real Estate Association’s benchmark price index has moved through cycles, but homeownership has historically remained one of the main ways Canadians build wealth over time.
That appreciation, combined with paying down your mortgage, is how equity grows.
Equity Is the Part People Often Overlook
Equity is the difference between what your home is worth and what you still owe on your mortgage.As you make mortgage payments and your home’s value changes over time, your ownership stake can grow.
That equity can eventually become a powerful financial resource.
If you decide to sell, the equity you’ve built over time comes back to you in the sale. If it’s time to upsize, downsize, or relocate within Southwestern Ontario, that equity can help fund the down payment on your next home.
That is one of the biggest benefits of homeownership.
It is not just about having a place to live. It is about building an asset over time that can support your next chapter.
Zoom Out Even Further
The five-year numbers are impressive in many markets. But the numbers become even more meaningful when you look at decades instead of individual market cycles.Home prices do not rise every single year. And buying is not automatically the right decision for everyone today.
You should only buy when the numbers — and the payment — work for you.
But what long-term data does show is why trying to perfectly time the market can cause you to miss the bigger picture.
Over time, homeowners gain equity. And that equity can eventually support future moves, renovations, or other financial goals.
What If Prices Dip After You Buy?
Prices can dip. They have before. But historically, Canadian home prices have risen far more over the long run than they have fallen.And the longer you own your home, the more time you have to ride out those ups and downs and keep building equity.
That does not mean you should buy a home you cannot comfortably afford. It means you should not let short-term uncertainty make you lose sight of the bigger picture.
The Right Time Is When It Works for You
There is no perfect time to buy.There is only the right time for you — when your income, savings, monthly payment, and long-term plans line up.
For some people, that means buying now. For others, it means waiting a little longer and continuing to save.
The important part is making the decision with a clear understanding of what homeownership can do over time.
Ready To See If Buying Makes Sense for You?
If you’re wondering whether buying makes sense for you right now, let’s look at the numbers together — and what owning a home could mean for you in the years ahead.Because for many Canadians, homeownership is still one of the most meaningful long-term financial decisions they can make.
We would like to hear from you! If you have any questions, please do not hesitate to contact us. We are always looking forward to hearing from you! We will do our best to reply to you within 24 hours !