Canadians Struggle With Homebuying Financial Literacy
New survey data shows significant age-related gaps in confidence regarding the financial aspects of purchasing a home.
Updated on Oct. 28, 2026 in Saving
Live Poll
Do you feel confident navigating the financial requirements of buying a home today?
A survey of 1,500 Canadians reveals that fewer than 1 in 5 young adults feel confident navigating homebuying finances. Meanwhile, 40% of Canadians reported tapping into their long-term savings to cover unexpected costs or everyday expenses over the past year.
Why it matters
The findings highlight a widespread struggle among Canadians to balance long-term financial security with immediate affordability pressures. These gaps in confidence suggest many residents may find the complexities of the housing market daunting without additional support.
The Zown Homeownership & Financial Confidence Survey reports that only 13% of non-homeowners feel confident in their financial navigation skills. These figures carry a margin of error of +/- 2.53 percentage points among the 1,500 respondents.
The players
Angus Reid Forum
This is a Canadian opinion research community used to conduct the survey sample of 1,500 adults.
Zown
This is a Canadian homeownership platform that released the report on financial confidence in the housing market.
The details
Among those who dipped into long-term savings, 29% utilized the funds for emergencies, while 22% used them for groceries and regular purchases. Only 13% of those accessing savings specifically allocated the money toward standard housing costs.
Timeline
The Zown Homeownership & Financial Confidence Survey was conducted from October 14 to October 16, 2026.
Market Dynamics
This survey aligns with trends highlighted in the Bank of Canada's Financial System Review regarding household debt. It documents how increased reliance on personal savings to cover routine costs mirrors broader national vulnerabilities in the current economic cycle.
The reliance on long-term savings for everyday purchases suggests that many individuals are compromising their future wealth to meet current liquidity needs. Those without a buffer for emergencies may need to reassess their debt-to-income ratios before entering the property market.
The takeaway
Maintaining separate accounts for emergency funds and long-term goals can help prevent the depletion of assets intended for future security. Canadians are encouraged to seek financial planning resources to improve their literacy regarding the complexities of home purchases.
Further reading
For more context on managing personal capital, visit the Saving section.
More information
For more information on the findings, visit the Zown homeownership platform.
Live Poll
Do you feel confident navigating the financial requirements of buying a home today?
