B.C. Property Virgins Choose Condos

TORONTO, ON – According to a recent 2010 Home Buyers Survey by TD Canada Trust, condos narrowly edged out detached homes in B.C. as the number one choice for first-time homebuyers, with 37 per cent of stating they had bought or intended to buy a condominium; only 36 per cent bought or intend to buy a detached home. The national average is 21 per cent for condos and 58 per cent for detached, making B.C. a decidedly different new home buyers’ market.

Other interesting data included the comparison of old vs. new (priced the same, British Columbians would prefer a newer home (76 per cent) to an older home (24 per cent). Most would also select a smaller home close to work (56 per cent) to a larger home that comes with a commute (44 per cent). When considering what kind of home to buy in B.C., a resounding 100 per cent said price, followed by layout of the home (97 per cent) and features of the home (96 per cent).