23 July 2018

In most cases the ones who contacted the respondents about a home sale were realtors, with 24% of Canadians aged 75+ saying they have faced quite an active approach from them.

Staying close to relatives, friends or community was the main factor for 51% of respondents. At the same time, 49% named emotional attachments and memories.

The online survey of 1349 Canadian homeowners aged 18+ was conducted in June.

We offer some very interesting mortgage products for older applicants, ranging from no payment mortgages to home equity lines of credit which don’t require monthly payments withdrawals from their regular bank account. For some people not only payment free option is important, but the idea of “living will” is very attractive! By using this program, parents, while still alive and enjoy living in their own home, can pass part of their inheritance to children or grandchildren tax free and watch their kids enjoying that gift.