Nov 10, 2020
How Canadians' relationships with their homes are evolving during the pandemic
Like most Canadians, Steph Palasti and Scott Walker began asking themselves some big questions once the coronavirus pandemic hit, including how and where they wanted to live.
Did they now need a home gym? A bigger office? Should they continue living downtown or look for bigger space out of the city?
According to a recent Ipsos poll conducted on behalf of TD, nearly one-quarter (24%) of Canadians surveyed, said their living space isn't designed for them to work from home on a regular basis, 29% of respondents said they don’t have enough room to exercise, and 37% have or are planning to complete a significant home renovation or repair to accommodate spending more time at home.
“Interestingly, despite the results revealed by the survey which found that many Canadians are living in spaces that no longer work for their situation, we also found that only three per cent of people surveyed have actually taken steps to move," said Jared Jarman, Associate Vice President, Specialized Advice, Acquisition at TD.
Jarman suggests that this could be due to several factors, including affordability, and the idea of navigating parts of the homebuying process virtually during the pandemic which could be overwhelming for some.
"If you’re looking to buy a property or embark on a renovation, seeking financial advice from a financial advisor or a TD Mortgage Advisor depending on your needs can help in creating a plan that is specific to your changing situation and goals."
Steph and Scott's story
Watch the video to find out how a chance golf game sparked a major life change for Steph and Scott that they executed in under a week, and how their living situation and ideas of home are evolving.