Contact Us with your Real Estate Questions
Mobile: 250.869.9119 Email

How Millennials Look at Real Estate


The real estate market can be difficult especially in hot markets like Vancouver, Kelowna and  Toronto real estate market  which can be challenging for millennials. The prices and demands are sky high that 32% of the non-homeowners surveyed by the CIBC don’t think they’ll ever be able to buy a property in Canada.

This is the sad and frustrating predicament that a lot of young professionals today are in. However, it’s not entirely impossible to own a property in Toronto. The sprawling growth of the metropolis should spark some hope in young people’s hearts. This opens up more chance to be a homeowner in the GTA, Okanagan or Lower Mainland you just need to know how to effectively dive into the market.

So how exactly should you navigate one of the hottest markets in the globe? Here are some of the actual things millennial homeowners have done to afford their homes in Toronto, Vancouver and Kelowna:

Condominiums are the Most Convenient Picks

Most millennials who are already looking into buying real estate are the ones who are also starting to grow their families. They want a family home that they can call their own.

Unfortunately, single detached homes are out of the question. Sellers know that they’re worth a lot so they come with hefty price tags. There’s also not a lot available, so you need to have a huge budget just to afford one. In many cases, you also need to expand your search scope to actually find one that’s remotely within your budget.

Because of this, condominiums prove to be some of the best picks for a lot of millennials. They’re often located right within the downtown area so you don’t have to go through the hassle of commuting anymore.

They usually come with great amenities, too. Most of the time, this makes up for not having a yard, home gym, or a media room.

Their smaller size also makes them more affordable for a lot of homebuyers. It’s just that it’s small. Your space will be limited so if you intend to have a family sometime soon, you might need to learn to make your space work for you. If that’s okay with you, though, this setup can get your foot in the Toronto real estate market.

Consider Commuting

Not a fan of vertical living? Then you might want to consider commuting. Some neighboring towns and cities still have relatively affordable prices for single detached homes. You just need to factor in the convenience of your commute and your travel time if it’s worth the additional space.

Save Up and Build Your Credit Score

This can be the trickiest part of dipping your toes in the real estate market of this city. Not every young adult has the best credit score and repairing a damaged one can be a major undertaking. Saving up is another challenge since there’s just so much to enjoy if you live in the big city.

Most experts recommend sacrificing the small things you buy daily that add up to a lot in the long run. Make your coffee and toast at home if you must. Get store brand items. These small adjustments can help you find a few extra dollars here and there effectively.


A lot of millennials take second jobs or clock in longer hours at work to save up for their first homes. This will drastically affect your lifestyle but if you really want to afford a home in any other hot real estate market, this is one of the best ways to do it.

With the sky-high prices in the area, a few extra bucks from hustling might be a better choice than turning to the bank of Mom and Dad. Not that you shouldn’t explore that option, too, but if you want to fully leave the nest, this might be your best bet.

Honestly speaking, the Vancouver, Kelowna or  Toronto real estate market can be inhospitable towards millennials but it’s not impossible to get into it. Conquering it might even be more rewarding, as it is one if the toughest to crack. If you think you’re up for it, give these tips a chance and you might just get lucky.


Contributed by: Greg Clarke professional realtor serving Kelowna and Vernon.

quickly buy and sell your home in Kelowna with top realtor Call Us Now ! 250.869.9119

Questions about Buying or Selling - Email Us!

Connect With Us on Facebook


What a Team

How Millennials Look at Real Estate


Greg and his wife Sharon are an impressive business team: they are very charismatic, energetic, personable, easily approachable and strongly motivated to assist their clients in reaching their goal in a punctual and always professional manner. I have and will continue to recommend the Clarkes; a team who is sure to exceed anyone’s real estate needs and expectations!
Neal & Florence Klose

They put me at ease

How Millennials Look at Real Estate


As a young first time home buyer, I had no idea what I was getting into when I started looking for my house. Greg sat down with me to sort out what specifically I was looking for, then set out to find me that property. We started looking at some listings which gave us both a better feel for what I liked or disliked. From that point, by searching the MLS system and talking with other realtors, Greg found a home a little out of my price range but with everything I was looking for. We viewed the house and it was perfect. From there he helped me go through the process of putting in an offer and negotiating the right terms. Luckily, after some back and forth discussion, we were able to come to an agreement with the sellers just within my budget. I’ve been living here now for a year and still think it was the perfect choice. Thanks Greg!
Nathan Hokazono

Thank You

How Millennials Look at Real Estate


Thank you both so much for all your help in finding us this great home! We are really happy here and are loving the beautiful hanging baskets too so thank you. We really appreciate all you have done and will gladly recommend you!
Dave and Donna Blackmore

Realtor Review Button