Listing Notifications

First Time Home Buyer Statistics for Alberta

First Time Home BuyerFirst-time home buyers have increased their budget to an average of $316,100 – up from $300,000 in 2013 – according to the BMO 2014 First-Time Home Buyers Report. However the average down payment percentage has remained unchanged from last year at 16% ($50,576).

Average spent on first home: $364,700

Down payment: 15%

Willing to break budget for the right house: 37%

Expecting parents/relatives to help with cost: 26%

Time line has been delayed due to rising prices: 40%

Made cutbacks to lifestyle to save: 60%

To view more information on the BMO’s First Time Home Buyers Report follow this link.