A new survey from Royal LePage reveals that many Canadians are prioritizing homeownership over traditional wedding celebrations. The survey, conducted by Burson, found that nearly 80% of respondents who are planning a wedding or know someone who is would consider asking for money toward a down payment instead of conventional wedding gifts.
Key Findings
According to the report published Thursday, 82% of respondents said they would either skip or significantly scale back a wedding celebration to put more money toward buying a home. This trend is particularly strong in Canada's less affordable markets.
Regional Differences
In British Columbia, 86% of respondents said they would consider requesting down payment money as a gift, the highest proportion among all provinces. In contrast, only 23% of respondents in Manitoba and Saskatchewan said they would definitely ask for down payment money, while 33% said they would not request money at all. However, nearly 50% in those provinces said they would definitely scale back a wedding to save for a home.
Quebec respondents were the least likely to achieve either milestone, marriage or homeownership. Julien Jacoby-Boissy, a real estate agent at Royal LePage Triomphe in Montreal, noted cultural differences: "Culturally, we take a different approach to these milestones. What is certain is that long-term financial stability is a top priority, but must be balanced with quality of life."
Expert Insights
Anne-Elise Cugliari Allegritti, vice president of research and communications at Royal LePage, explained the shift: "Few milestones carry more weight than buying a home or getting married. However, as the cost of living continues to put pressure on household budgets, it's the wedding that gets scaled back." She added that the fear of being priced out of the market has become a powerful motivator compared to the pressure for a picture-perfect wedding.
In Toronto, realtor Tom Storey of Royal LePage Signature Realty observed that couples are increasingly opting to buy a home before tying the knot. "With the cost of entering the housing market among the highest in Canada, many buyers are prioritizing saving for a down payment over spending heavily on a large or luxury wedding," he said.
Adil Dinani, a realtor with Royal LePage West Real Estate Services in Vancouver, noted that for some, this means delaying a wedding altogether or choosing a smaller ceremony to direct more savings toward entering the housing market, especially with rising housing costs.
Implications
The survey highlights a significant shift in Canadian priorities, with homeownership increasingly seen as a more permanent and valuable milestone than a traditional wedding. As housing affordability remains a challenge, this trend may continue to shape how Canadians approach major life events.
