CALGARY — A new poll says 60 per cent of Canadian homeowners admit they made at least one mistake when they bought a home.
The 20th Annual RBC Home Ownership Poll, released Monday, said Albertans (15 per cent) thought their top mistake was that they purchased too quickly.
Asked to list up to three scenarios as their top mistakes, Canadians pointed to significant renovations needed to the property (15 per cent), not having a bigger down payment (14 per cent), and lack of a home inspection (13 per cent).
Another poll, released Monday by TD Insurance, said most Albertans who decide to renovate their homes this spring will forget an important step: they won’t consider the insurance implications of their renovations. According to research from TD Insurance, only five per cent of homeowners in Alberta checked their policy to ensure they were covered during their latest renovation and just 13 per cent asked their insurer if their policy needed an update following their upgrades.
Nationally, in the RBC poll, homeowners also cited purchasing too quickly (11 per cent) and failing to account for extra costs or total cost of home ownership (10 per cent) among some of the wrong moves made during a home purchase.
Younger Canadian homeowners (ages 18 to 34) were more likely than the average Canadian to list not having a bigger down payment as a mistake (21 per cent versus 14 per cent nationally), according to the poll.
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