Canadians value home ownership for the lifestyle security it provides and the investment opportunities it affords, but affordability in Canadian real estate continues to be a barrier for many hopeful homebuyers. According to a recent RE/MAX Canada report, 42 per cent of Canadians said the high cost of housing was preventing them from entering the market and 48 per cent shared concerns over their ability to afford a home in the next two years. This concern was significantly higher among young Canadians aged 18 to 34, with 71 per cent of them sharing this sentiment.
Despite deteriorating affordability, home ownership has historically been one of the best investments Canadians can make, and the desire to own a home remains strong among Millennials and Gen Z. To help these first-time homebuyers get their foot in the door, RE/MAX Canada and CIBC have partnered to launch the 100,000 Reasons To Move Contest to give away $100,000 to one lucky first-time homebuyer in Ontario or Atlantic Canada.
The contest kicks off on September 3 and runs until September 23, 2021. Entries can be made online, at blog.remax.ca/firsthomecontest/. To qualify, entrants must:
- be a legal resident of Ontario, New Brunswick, Nova Scotia, Newfoundland and Labrador or Prince Edward Island who have reached the age of majority in their province;
- purchase a home in the next 18 months;
- work with a RE/MAX agent to purchase their home;
- fund their mortgage with CIBC through a Mobile Mortgage Advisor
Keep your eyes peeled for the 100,000 Reasons To Move billboard truck, which will feature messages from hopeful home owners on what their unique reason to move may be.
Home ownership continues to be the Canadian dream, for many reasons. RE/MAX Canada’s 100,000 Reasons To Move Contest aims to give one lucky person just one more great reason to move, and $100,000 to help make the dream a reality.
*NO PURCHASE NECESSARY. Open [September 3, 2021] to [September 23, 2021] to legal residents of Ontario, New Brunswick, Nova Scotia, Newfoundland and Labrador, and Prince Edward Island who have reached the age of majority in their jurisdiction of residence. One (1) $100,000 CAD prize available. Odds of winning depend on number of eligible entries received. Math skill test and Internet access required. Rules: blog.remax.ca/firsthomecontest/