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There is no place like home

(NC)-Canadians understand the value of the home as an investment. We're all on the lookout for a good investment. Most Canadians know investing in their cousin Joe's lawn-bowling instructional-video business probably isn't a sound option to make their savings grow, but they're sure that investing wisely for the future is more important than ever before.

For many years, the stock market boomed as the place Canadians chose to invest their retirement nest eggs, and were encouraged to "think long term" and "be in it for the long haul". But in the past couple of years, the tumultuous state of the stock market has more Canadians thinking that these types of investments carry risks.

For the vast majority of Canadians, according to a RE/MAX National Survey of home buyers, the family home, more than any other type of investment surfaces as the preferred way to invest in their future. A representative sample of Canadians were polled on home-buying themes. They were asked to give various investment vehicles a grade out of 100 in terms of how they rate as an investment for the retirement years. A score of 100 meant a truly excellent investment.

"A person's home" topped the list with a grade of 77%, far surpassing other investments such as Canada savings bonds (56%), mutual funds (56%), corporate bonds (48%) and the stock market (42%). In fact, the top three preferences were real estate related: the principal home (77%), a well-located condo (61%), and, rental property (57%).

According to the survey, Canadians feel owning property is "one of the surest ways of accumulating assets for retirement". They consider it the best way to make an investment and enjoy its use at the same time, and they think it's a desirable way to channel inheritance money and is an effective way to leave an estate for one's own children.

More information from this National Survey can be found online at www.remax.ca  


 

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