Poll reveals growing demand for guidance amid affordability concerns and market uncertainty
TORONTO, Dec. 4, 2025 /CNW/ - First-time homebuyers are seeking trusted advice as they navigate affordability challenges and uncertainty, according to the latest Scotiabank Housing Poll, which focused on the experience and attitudes of Canadians surrounding homeownership. With 95% of first-time buyers saying reliable advice would make them feel more confident, the need for tailored, reliable mortgage expertise is more important than ever.
"Scotiabank's latest Housing Poll shows that nearly half of first-time homebuyers worry about making the wrong decision and place clarity and guidance at the top of their needs when taking their first step into homeownership," said Matthew Grey, Vice President, Real Estate Secured Lending at Scotiabank. "That is why we work alongside our clients, offering tailored advice and step-by-step support to simplify the process and help Canadians feel confident about one of life's biggest financial decisions."
First-Time Homebuyers Face Unique Challenges
For Canadians entering the housing market, homeownership signifies independence, stability, and a sense of control and belonging. The latest poll by Scotiabank shows that first-time buyers face important hurdles: affordability tops the list of concerns (56%), followed by uncertainty about the future (47%) and fear of making the wrong decision (43%).
Job stability also weighs heavily, influencing mortgage decisions for 43% of first-time buyers versus 28% of Canadians overall. The poll also shows that Canadians' homeownership plans are being impacted by current economic uncertainty. More than half of first-time buyers intending to purchase in the next five years feel buying a home is currently out of reach (53%), and 62% say the current economic environment is negatively impacting their finances and delaying plans.
The Need for Trusted Advice
The demand for clarity and confidence is clear in the poll findings. Most first-time homebuyers (78%) say a lender's reputation and trustworthiness are critical when choosing a mortgage. Yet, the process remains overwhelming - 92% of first-time homebuyers find the process confusing compared to 68% of Canadians overall, and 44% are seeking step-by-step guidance to navigate it. Many turn to family and friends for advice (50%) but even with that support, 27% still cite a lack of trusted advice and guidance as a hurdle to homeownership.
Tips for first-time homebuyers planning their homeownership journey:
- Find a trusted mortgage advisor who understands your unique situation. They can help you discover paths to homeownership that did not seem possible and enable you to feel more confident in your decisions, step-by-step from qualification to closing. Find a Scotiabank Home Financing Advisor in your area for trusted advice, tailored to you.
- It starts with a mortgage but does not end there. Owning a home is a goal that spans several financial solutions from investment planning as you prepare to buy, borrowing solutions for your mortgage and any other home improvement expenses, and protection for your largest asset. The best advice comes from a comprehensive plan addressing all elements of your financial needs, and clients can sometimes be surprised by the utility of a holistic financial conversation.
- Get pre-approved for a mortgage early to understand what you can afford and lock in a rate before you start house hunting. This can help protect you from potential rate increases and you can do so online with our e-HOME mortgage hub.
Additional Scotiabank Housing Poll Findings:
- Half (50%) of first-time homebuyers go to friends and family to learn about mortgages and home ownership, compared to 38% of Canadians overall.
- 72% of first-time homebuyers believe that having all of your banking products in one place is important.
- 67% of first-time homebuyers wish they had more access to easy-to-understand information on the basics of home ownership.
About the Survey
This survey was undertaken by The Harris Poll Canada. It ran on September 24th, 2025, to September 26th, 2025, with 3,064 randomly selected Canadian adults who are online panelists of which 1,829 are homeowners and 1,210 are renters.
The results have been weighted by age, gender, region, and education (and in Quebec, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada.
For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±1.8%, 19 times out of 20. For homeowners, the margin of error is ±2.3% and for renters, ±2.8%. Discrepancies in or between totals when compared to the data tables are due to rounding.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at October 31, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX:BNS) and New York Stock Exchange (NYSE:BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
SOURCE Scotiabank
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