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2016 Newcomer First-Time Home Buying Experience Qualitative Research Results

CMHC is pleased to share the findings of its 2016 Newcomer First-Time Home Buying Experience Qualitative Research. This is the first year CMHC has conducted and presented this research and its results. It aims to provide valuable insights to mortgage professionals on the behaviours, attitudes and expectations of newcomer first-time home buyers. The report is based on qualitative research conducted through various focus groups across Canada.

Download the Newcomer First-Time Home Buying Report PDF

Highlights

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Motivations and Desires

Motivations and Desires

Buying Reasons: Newcomers considered purchasing their first home as an important step towards getting settled in Canada.

Type of Home: Newcomers were not specifically looking to buy within their own ethno-cultural community.

CMHC Can Help: Help your clients find the right home for their needs. Visit CMHC’s interactive Housing Observer Online for the latest housing market analysis, housing trends, research articles, videos, tools, and more.

Home Buying Process

Resources Used: Newcomers  used social media  to access real estate and listings information, and were hesitant to share personal details.

Consultations/Advice Gathered: Had low desire for documentation in their mother tongue, or consulting with professionals from the same cultural background.

CMHC Can Help: Use and share information found on The RESOURCE for Mortgage Professionals to help inform and strengthen your relationships with newcomer clients.

Home Buying Process

Mortgage Process

Mortgage Process

Budget and Affordability: Credit history and closing costs were new concepts to some newcomer first-time buyers.

Lenders & Brokers: The ability to compare interest rates was a compelling proposition and many wished they had the opportunity to compare more.

CMHC Can Help:
Use and share CMHC’s calculators available online and on our mobile apps.

CMHC Can Help

Our experienced Client Relationship Management team is here to help provide you with support, expertise, and the tools you need to help your clients make informed home buying, housing finance, and homeownership decisions.

Client Relationship Management

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