Despite the societal pressure to pursue home ownership as a marker of success, buying a home is simply out of reach for many renters.

The average GTA property still costs more than $1 million , and according to a recent Royal LePage survey, about 43 per cent of first-time homebuyers in Ontario will receive financial help to make their purchase .

“Unless you have family help or dual income, it’s very difficult to enter (the real estate market),” says Toronto realtor Tom Storey.

And because home ownership has been so profitable for past generations, there are expectations that “everyone should do it” and “you’d be crazy not to,” says personal finance expert Preet Banerjee.

But in today’s market, it’s not so obvious what the best approach is, he says.

Home ownership may not gene

See Full Page