If you’re feeling like buying your first home is taking longer than it should, you’re not alone. A recent report confirms what many Ontarians already suspect: the path to homeownership is getting longer and steeper.

In just the last decade, the median age of first-time homebuyers in Ontario has risen from 36 to 40. That’s a four-year jump in just ten years. So, if it feels like your parents bought their first home earlier, you’re probably right.

What’s Causing the Delay?

The short answer? Affordability.

Even with recent price corrections in some markets, the reality is that homes across Ontario are still significantly more expensive than they were a decade ago. In fact, the average home price today is nearly double what it was just ten years ago.

Consider this: in Toronto, the average household now spends 71% of their pre-tax income just to carry a mortgage. That’s the highest affordability burden we’ve seen since 1990.

But it’s not just a “big city” issue.

Cities like Hamilton, London, and even smaller communities like Tillsonburg have seen dramatic price increases, putting additional pressure on first-time buyers across the province.

Is Homeownership Out of Reach?

The dream of owning a home may feel more distant, but it’s not gone. Buyers today are getting more strategic by exploring different cities, adjusting expectations, and leaning on real estate professionals to help navigate complex markets. If you’re feeling stuck or unsure of how to get started, you’re not alone and there are options.

Thinking of buying your first home? Let’s connect and create a strategy that works for your timeline and budget.

Share this blog with someone who’s ready to stop waiting and start planning!