2024 CHBA Home Buyer Preference Survey results indicate what Canadians expect from their homes

OTTAWA – October 23, 2024 – The Canadian Home Builders’ Association (CHBA) has released the results from its ninth annual CHBA Home Buyer Preference Survey, a nationwide market research study powered by Avid Ratings Canada. The 2024 Canadian Home Buyer Preferences is a high-level summary publication that comes with the full study data set, allowing users to customize data splicing on more than 50 in-depth areas of home design, building features, buying preferences, and demographics, including age, location, household formation, purchase price, and more.

Over 18,000 homebuyers across 6 provinces were surveyed in this year’s study. Over the nine years of the study to-date, a total of 188,000 new homebuyers have been invited to participate, which is an excellent sample to provide national preferences and trends over time. The survey report and its data illuminates trends in preferences and gives unique insight into the evolution of Canadian homes, and how Canadians are buying them.

Kitchen features remain the highest ranked category by respondents again this year, and kitchen islands and hardwood in the kitchen made the top ten list. Storage and energy efficiency continue to dominate the Top 10 Most Desired Features. Walk-in closets, linen closets, and garage space account for four of the top ten spots. Energy efficiency features making the top ten include high-efficiency windows, energy-efficient appliances, an overall energy-efficient home, and HRV/ERV air exchange systems. The challenge, however, is the gap between what homeowners say they want and what they would pay to have it: more than 53 percent of respondents said they were motivated by lower utility bills, but 45 percent would only be willing to spend up to $3000 to reduce their utility bills. When asked what they would prioritize if they had an extra $10,000 to spend, only 15 percent said they’d spend it on energy efficiency, whereas 25 percent would spend it on interior finishes and options, and 27 percent would spend it on a larger home or larger lot.

The Top 10 just scratches the surface of the types of questions recent buyers are asked. For example, 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. Over 56 percent 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. When it comes to timing, 35 percent of respondents indicated they will need these features in the next 5-10 years (that goes up to 54.8 percent for Boomers), reflecting Canada’s aging population and a desire to age-in-place. CHBA’s Adaptiv Home program is therefore well positioned to respond to such desires.

When asked what they’d be willing to accept to make their next home more affordable, the most preferred trade-off was a smaller home, followed closely by being located farther from work or amenities. However, preferences change when we drill into specific age cohorts: for example, millennials, many of whom are in their family-building years right now, would prefer being farther from work than a small home. Once again this year, very few people were willing to compromise on construction material quality or the energy efficiency of the home.

The popularity of having a legal secondary suite has gone up this year, with 57 percent of respondents saying they would want a legal secondary suite, for either their children or aging family members, or for rental. Almost 20 percent are interested in using a secondary suite as a long-term rental, which is up about 5 percent from last year.

For more information and to access the full survey results and data, visit www.chba.ca/buyersurvey.

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About the Canadian Home Builders’ Association
The Canadian Home Builders’ Association (CHBA) is the voice of the residential construction industry in Canada, representing some 8,500 member firms across the country. Our membership spans new home builders, renovators, developers, trade contractors, building material manufacturers and suppliers, lenders, and other professionals in the housing sector. 

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