Almost half of Ontario homeowners expect their home to fund retirement
9/27/2017
| SHARE
Posted in Ontario News by Maurice Hyde| Back to Main Blog Page
A large share of homeowners in Ontario are counting on home values increasing to ensure they have sufficient retirement funds.
The Ontario Securities Commission (OSC) said Tuesday that 37% of homeowners over 45 in the province are expecting to top up their retirement funds through growing home equity, increasing to 45% among pre-retirees aged 45-54.
Many of these pre-retirees have no or low investments and savings.
The larger the mortgage held by pre-retirees, the more likely they are to be relying on increasing home values to fund retirement; 35% of those with no mortgage; 53% of those with a mortgage up to $200K; 57% of those with a mortgage of $200-500K; and 83% of those with a mortgage over $500K.
Home Owners, Home Ownership, Ontario Real Estate
Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and we'll get back to you promptly.