Whereas properties have lengthy been a supply of wealth for Canadians, they’re now taking up an excellent greater position in retirement planning.
New knowledge exhibits 62% of adults view homeownership as central to their long-term safety, with practically half of unretired householders (44%) planning to promote their house to fund retirement, in accordance with the 2025 Canadian Retirement Survey from the Healthcare of Ontario Pension Plan (HOOPP).
On the identical time, issues about mortgage debt are rising sharply as 65% of house owners with a mortgage now fear they gained’t have the ability to pay it off earlier than retirement, up from 45% in 2023.
Householders extra more likely to save, however nonetheless nervous
The survey additionally highlights the monetary divide between householders and renters. Amongst unretired Canadians, 71% of house owners mentioned they’ve put aside cash for retirement sooner or later, in contrast with simply 36% of non-homeowners.
That disparity extends to complete financial savings as properly. Simply 19% of house owners reported having lower than $5,000 put aside, in contrast with 57% of non-owners. Against this, 18% of house owners reported having over $200,000 in financial savings in comparison with simply 3% of non-owners.
Regardless of this benefit, many owners stay uneasy about their retirement outlook, with 44% saying they’re relying on the sale of their house to safe their monetary future. That’s up from 42% in 2024 and 38% in 2023.
One other 33% say they’re exploring remortgaging choices in retirement to release further funds.
Different key findings
- 78% of mortgage holders mentioned rising funds have pressured or will power them to chop again in different areas simply to maintain up with housing prices.
- An equal 78% mentioned increased mortgage funds are decreasing their means to save lots of for retirement.
- Youthful Canadians are particularly more likely to anticipate to depend on housing wealth, with 55% of these aged 18 to 34 planning to make use of the sale of their house to fund retirement (in comparison with 44% general and 41% of these aged 55 to 64).
- 38% of house owners mentioned they might promote their house and downsize in the event that they wanted further retirement earnings.
- 24% mentioned they might contemplate going again to work full- or part-time
- 14% mentioned they might use a reverse mortgage to remain of their house
- 46% of Canadians are involved about mortgage, hire or different house funds in retirement.
- 48% of Canadians mentioned they’re nervous about what rates of interest will do to their means to afford present or future mortgage funds.
- 84% of renters mentioned they’re nervous in regards to the rising value of hire.
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affordability Healthcare of Ontario Pension Plan mortgage methods retirees retirement reverse mortgages statistics survey
Final modified: August 14, 2025
