CHBA Survey reveals what Canadians expect from their homes

The findings from Canadian Home Builders’ Association’s (CHBA) ninth annual CHBA Home Buyer Preference Survey have indicated what Canadians expect from their homes.

The nationwide market research study powered by Avid Ratings Canada, featured over 18,000 homebuyers across six provinces and revealed that kitchen features remain the highest ranked category by respondents, with kitchen islands and hardwood in the kitchen making the top ten list.

Storage and energy efficiency continue to dominate the top 10 most desired features. This includes walk-in closets, linen closets, and garage space, which account for four of the top ten spots.

Energy efficiency features that made the top ten include high-efficiency windows, energy-efficient appliances, an overall energy-efficient home, and HRV/ERV air exchange systems.

The survey also revealed that there is a gap between what homeowners say they want and what they would pay to have it. Over 53 per cent of respondents said they were motivated by lower utility bills, but 45 per cent would only be willing to spend up to $3,000 to reduce their utility bills.

When asked what respondents would prioritize if they had an extra $10,000 to spend, only 15 per cent said they’d spend it on energy efficiency, while 25 per cent would spend it on interior finishes and options, and 27 per cent would spend it on a larger home or larger lot.

Electronic front door entry is the top gaining of the survey this year, and granite countertops are one of the largest down-trending features since the survey began.

More than 56 per cent of respondents are looking for aging in place features either for themselves or for family members, which is up approximately 6 percent from the last survey.

In terms of timing, 35 per cent of respondents indicated they will need these features in the next five to 10 years  which reflects Canada’s aging population and a desire to age-in-place.

When asked what they’d be willing to accept to make their next home more affordable, the most preferred trade-off, according to the findings, was a smaller home, followed by being located farther from work or amenities.

Preferences changed however, when the survey drilled into specific age groups such as millennials, who would prefer being farther from work than a small home. This year, very few people were willing to compromise on construction material quality or the energy efficiency of the home once again.

The popularity of having a legal secondary suite has gone up this year, according to the findings, with 57 per cent of respondents saying they would want a legal secondary suite, for either their children or aging family members, or for rental.

Almost 20 per cent are interested in using a secondary suite as a long-term rental, which is up about 5 per cent from last year.