Survey: 82% of Young Canadians Lack Financial Confidence in at Least One Aspect of the Homebuying Process

New findings also reveal 40% of Canadians tapped into long-term savings to cover expenses within the past year, including rent or mortgage payments.

TORONTO--(BUSINESS WIRE)--New research highlights the financial pressures facing Canadians and the challenges of saving for a home, particularly among younger Canadians with only 18% of those aged 18-34 who say they feel confident navigating all financial aspects of buying a home. That’s compared to 35% aged 35 to 54 and 50% aged 55 and older.

The 2026 Zown Homeownership & Financial Confidence Survey issued by Zown, a full-service, AI-powered real estate brokerage, and conducted among members of the Angus Reid Forum, found that younger Canadians identified several areas of homebuying finances they feel least confident navigating, including:

• Saving and planning for a down payment: 19%
• Understanding ongoing costs after buying a home: 19%
• Knowing how much home they can afford: 18%
• Knowing which homebuying incentives or programs they qualify for: 14%
• Understanding closing costs: 10%

The findings also reveal that just 13% of Canadians who have never owned a home but haven’t ruled out homeownership, feel confident navigating all financial aspects of buying a home, compared with 46% of current homeowners.

For prospective buyers in this group, the areas of least confidence include:

• Saving and planning for a down payment: 30%
• Understanding how much home they can afford: 18%
• Understanding the ongoing costs of homeownership: 14%

Canadians Dip Into Long-Term Savings to Cover Expenses

The survey also found that 40% of Canadians tapped into their long-term savings to cover expenses or unexpected costs over the past year.

Among those who accessed their savings, 29% used the money for emergencies or unexpected expenses, 22% for groceries and everyday purchases, and 13% for regular housing costs, including rent or mortgage payments.

“Housing affordability isn’t just about the price of a home. It’s also about whether Canadians can afford to become homeowners in the first place,” said Rishard Rameez, Founder and CEO of Zown. “There's a disconnect between the dream of homeownership and the financial reality many Canadians face. We're asking people to save tens of thousands of dollars for a down payment when they're already drawing on their savings to cover everyday expenses. That's a fundamental challenge we can't afford to overlook.”

Canadians Across the Country Are Drawing on Long-Term Savings

From roughly one-third to nearly half of respondents in each region, Canadians report dipping into long-term savings to manage financial pressures:

• 48% in Alberta
• 44% in Saskatchewan and Manitoba combined
• 41% in Ontario
• 41% in British Columbia
• 35% in Atlantic Canada
• 34% in Quebec

As Canadians face growing challenges in saving for a home, Zown is focused on helping aspiring buyers overcome financial barriers and navigate the path to homeownership.

About Zown

Founded in 2022, Zown is an AI-powered real estate platform and licensed brokerage on a mission to make homeownership more affordable and accessible. Combining a personal AI agent with licensed real estate professionals, Zown guides buyers from education and home search through offer negotiation and closing, while providing upfront cashback to eligible buyers to reduce upfront costs. Zown has helped over 1,000 homebuyers transact over $700 million in real estate and returned more than $8 million in cashback. For more information, visit www.zown.ca.

Methodology

These findings are from a survey conducted by Zown from October 14 to October 16, 2026, among a representative sample of 1,500 online adult Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 2.53 percentage points, 19 times out of 20.