Storeys.com
March 27th, 2025
Early inheritance is an increasingly popular route towards homeownership in Canada— and you can help lay the path.
There’s no sugar-coating it: Millennials and Gen Z are facing an economy and housing market that renders it difficult to make the “Great Canadian Dream” of homeownership a reality. This is especially true in notoriously expensive cities like Toronto and Vancouver.
While purchasing a home is never a small feat, it’s safe to say that doing so was financially easier for aging Canadians. Over the years, home prices have climbed throughout the country, especially in urban centres and their bustling suburbs. In January 2025, the average cost of a home was $1,070,100 in Toronto and $1,173,000 in Vancouver. According to calculations from RateHub.ca, this means that the income required to purchase a home in Toronto is $223,290, and $243,300 in Vancouver.
Storeys | Real Estate News in Canada
There is, however, an increasingly popular route towards homeownership. It’s called an early inheritance, and it can be about as straightforward as it sounds. In today’s challenging climate, an early inheritance offers a way for Canadian families to support younger generations. And, importantly, the option is not reserved for the privileged set either.
