For generations, the path to homeownership followed a fairly familiar pattern. Save for a down payment, purchase a modest starter home, build some equity, and eventually move into something larger as your family and finances grow.

But is that still how Canadians envision buying a home?

According to RBC's 2026 Home Ownership Poll, Canadians are reconsidering some long-held assumptions about homeownership. From the age at which they expect to purchase their first property to the types of homes they're looking for, the survey suggests that buyers are approaching one of life's biggest financial decisions differently.

The findings also reveal an interesting tension. Canadians are increasingly concerned about the challenges of entering the housing market, yet many are looking beyond traditional solutions and considering new ways to make homeownership work.

So, what's changing, and what might these shifting expectations mean for buyers in Edmonton?

Is 41 the New 29?

One of the most striking findings from RBC's survey is the difference between when existing homeowners purchased their first property and when non-homeowners expect to do the same.

Current homeowners reported buying their first home at an average age of 29. By comparison, Canadians who don't currently own a home expect to be 41, on average, before making their first purchase.

That's a 12-year difference, but it deserves some context.

The survey isn't showing that the actual average age of first-time buyers has increased by 12 years. Rather, it's comparing the past experiences of existing homeowners with the future expectations of people who haven't yet purchased a home.

Nevertheless, those expectations tell us something about how Canadians perceive their opportunities. In fact, half of non-homeowners surveyed said they don't know when they'll be able to purchase a property at all.

There's also a noticeable generational divide.

RBC found that 74% of Canadians believe buying a home today is more complicated than it was for previous generations, while 65% feel that previous generations don't understand the challenges facing today's buyers. More than half (52%) believe homebuying advice passed down from earlier generations is no longer accurate.

Some of that frustration is understandable. The financial circumstances, mortgage requirements, and housing markets that shaped one generation's experience may look very different to someone trying to purchase their first home today.

But while the challenges may have changed, the desire to own a home hasn't necessarily disappeared. Instead, buyers may be adjusting their expectations about when and how they'll get there.

Rethinking the Starter Home

The traditional starter home has long played an important role in Canadian real estate. Rather than purchasing their ideal property immediately, buyers could start with something smaller or more affordable and move up as their needs changed.

RBC's findings suggest that many prospective buyers are questioning that approach.

Among first-time buyers planning to purchase within the next two years, 74% said they would rather buy a home they can stay in longer than one they might outgrow. Meanwhile, 71% of Canadians agreed that the idea of a starter home has changed compared with previous generations.

There may be good reasons for that shift.

Moving from one property to another comes with considerable expenses, including real estate commissions, legal fees, moving costs, and potentially mortgage-related expenses. Buyers also face uncertainty about what their next home might cost when they're ready to move.

In RBC's survey, 52% of existing homeowners said moving up from their first home has been harder than they expected. Another 46% said they would like a larger or different property but don't consider it financially realistic right now.

It's understandable, then, that some first-time buyers would prefer to purchase a home that can accommodate their needs for many years.

However, there are trade-offs to consider.

Waiting until you can afford a larger home may mean spending additional years renting and saving for a bigger down payment. Alternatively, purchasing a smaller property sooner could allow you to begin building equity, although that outcome depends on factors such as financing costs, maintenance expenses, transaction costs, and future property values.

Neither approach is automatically better.

A buyer planning to start a family in the next few years may place considerable value on extra bedrooms and space to grow. Someone with less predictable career or lifestyle plans might benefit more from the flexibility and lower financial commitment of a smaller property.

Ultimately, the right first home isn't necessarily the one you can afford to purchase today, or the one you hope to live in forever. It's the one that makes sense for your finances, lifestyle, and foreseeable future.

Homeownership Is Becoming a Family Decision

Another interesting trend in RBC's research is the growing willingness to consider multi-generational housing.

Among Canadians planning to purchase a home within the next two years, 53% said they would consider living in a multi-generational home. That figure was 44% among all respondents and 45% here in Alberta.

The motivations aren't difficult to understand.

Pooling financial resources can make purchasing a property more attainable, while sharing ongoing housing expenses may reduce the burden on individual family members. Multi-generational arrangements can also offer practical benefits, such as helping care for aging parents or supporting younger family members.

For some households, purchasing a home together may be an attractive lifestyle choice. For others, it may be a financial necessity.

There are several ways families might approach this arrangement. Parents and adult children could purchase a property together, multiple generations could share a larger home, or a family might look for a property with a secondary suite or separate living area.

But combining households or finances introduces complications that shouldn't be overlooked.

When family members purchase property together, questions about ownership, mortgage responsibility, financial contributions, privacy, and future plans become especially important.

What happens if one person wants to sell? What if someone gets married, moves away, or can no longer contribute to the mortgage? How will expenses and maintenance responsibilities be divided?

These are conversations worth having before purchasing a property, ideally with appropriate legal and financial advice.

Multi-generational housing isn't a new concept, but RBC's findings suggest that more Canadians are open to considering it as part of their homeownership plans.

The Fear of Buying Too Soon—or Waiting Too Long

Perhaps one of the most relatable findings in RBC's survey concerns the uncertainty surrounding when to purchase a home.

Among Canadians planning to buy within the next two years, opinions were evenly divided.

Half were more concerned about waiting to buy, only to see prices rise and potentially being priced out of the market. The other half were more concerned about purchasing now and watching property values fall afterward.

It's a difficult position to be in.

Buying a home is a substantial financial commitment, and nobody wants to feel they've made the wrong decision. Yet predicting short-term movements in housing prices is notoriously difficult.

Interestingly, the results were somewhat different when looking at all respondents rather than just prospective buyers. Nationally, 62% were more concerned about waiting and being priced out, compared with 38% who worried more about purchasing before prices declined.

Albertans expressed similar concerns, with 63% more worried about waiting too long and 37% more concerned about buying before a price decline.

Of course, these figures reflect people's concerns, not predictions about where home prices are headed.

The challenge with trying to time the market is that buyers must make decisions based on information available today, while the outcome depends partly on events nobody can predict with certainty.

Interest rates, employment, housing supply, economic conditions, and personal circumstances can all change.

Rather than focusing exclusively on whether prices might rise or fall over the next year, buyers may benefit from asking a different set of questions.

Can I comfortably afford the property and its ongoing expenses? Does it meet my needs? How long do I expect to own it? And would I still be comfortable with the purchase if market conditions changed?

These questions don't eliminate uncertainty, but they help shift the decision toward factors buyers have more control over.

What Does This Mean for Edmonton Buyers?

Although RBC's poll examines Canadians nationwide, many of the attitudes it identifies are relevant to buyers here in Edmonton and the surrounding communities.

The important distinction is that national housing trends don't always translate directly into local market conditions.

A buyer searching for a condominium in Edmonton faces a different set of opportunities and challenges than someone looking for a detached home in Toronto or Vancouver. Even within the Edmonton region, property types, neighbourhoods, commuting distances, and housing options can vary considerably.

That makes it especially important to evaluate homeownership decisions in the context of the market where you actually intend to buy.

For someone considering their first property, that might mean comparing the financial implications of purchasing a condominium or townhouse today against waiting until a detached home becomes affordable.

For a growing family, it might mean weighing the benefits of a larger home against the costs of moving again in several years.

And for families considering multi-generational living, it could involve exploring properties with secondary suites, separate entrances, or layouts that offer greater independence between households.

There isn't one approach that works for everyone.

What RBC's survey highlights is that Canadians are thinking more carefully about the decisions surrounding homeownership. They're reconsidering timelines, questioning traditional assumptions, exploring shared living arrangements, and weighing the risks of buying against those of waiting.

Those are worthwhile conversations, regardless of where someone intends to purchase.

At LGA Realty Group, we believe good real estate decisions begin with understanding your options rather than feeling pressured to follow a particular path.

Whether you're considering your first home, planning for a growing family, or exploring a different approach to homeownership, the goal should be to find a property and financial commitment that make sense for your circumstances.

The traditional path to homeownership may be changing, but the importance of making an informed decision hasn't.

Source: RBC 2026 Home Ownership Poll