More than half of Canadians say their current home is not ideal: report

A for sale sign is shown in front of west-end Toronto homes Sunday, April 9, 2017. (THE CANADIAN PRESS/Graeme Roy)

More than half of Canadians say they are not living in their ideal home, according to a new report from Century 21. While most want more space, a majority cited affordability as the top barrier for moving into their dream dwelling.

Released Thursday, the Century 21 Spring Study also found that the average Canadian buyer has a budget of nearly $677,000 and is looking for a three-bedroom home with 2.5 washrooms. According to the Canadian Real Estate Association, the national average sale price for a home in February 2026 was $663,828, down 0.2 per cent from a year ago.

“The Canadian dream of owning a moderate stand-alone house with a few bedrooms for family and a yard is as relevant today as it ever has been,” Century 21 Canada executive vice-president Todd Shyiak said in a news release. “This perhaps speaks to why many moderately priced communities just outside metro centres are experiencing a real estate boom.”

The report was based on an online survey of 2,300 Canadians conducted by market research firm Ipsos. It found that a majority of respondents (55 per cent) said they were not living in their ideal home, with most (63 per cent) desiring more space. On average, respondents wanted a home that was nearly 2,100 square feet (195 square metres), which is about 600 square feet (55.7 square meters) larger than the average home size identified in the report.

Among those not living in their ideal space, most cited affordability as the top barrier (59 per cent) to relocating, followed the challenge and expense of moving (34 per cent) and issues saving for a down payment (14 per cent). Owners were also much more likely to say they love their home (80 per cent) compared to renters (50 per cent).

“What struck me in the results is the satisfaction gap between owners and renters,” Ipsos Public Affairs senior vice-president Sean Simpson said in the news release. “That 30-point gap helps explain why homeownership remains the goal for most Canadians – it’s not just about building equity, it’s about finding a place that truly feels like home.”

In terms of Canadians’ current living situation, 54 per cent reported owning their own home, followed by 37 per cent who rent. Another five per cent lived rent-free with family while two per cent paid rent to family members.

While just over half of respondents (51 per cent) lived in single-detached homes, 59 per cent said that would be their ideal living situation. Only 19 per cent of respondents said they are likely to buy a home within the next year.

The survey was conducted by Ipsos between Feb. 6 and 10 on behalf of Century 21. The results were weighted according to Statistics Canada census data to reflect the country’s population and are considered accurate within plus or minus 2.5 percentage points.