The findings highlight how continuing housing affordability pressures are reshaping major life decisions, particularly for younger Canadians trying to enter the market.
“As the cost of living puts pressure on household budgets across the country, more Canadians are finding themselves having to make difficult trade-offs between the two – and in many cases, it’s the wedding that gets scaled back,” said Anne-Elise Cugliari Allegritti, vice president of Research and Communications at Royal LePage, in a statement.
Many Canadians see a home as the more important investment
According to the survey, 83% of Canadians identified buying a home as the biggest or most important purchase a person will make in their lifetime.
That sentiment appears to be influencing how couples approach marriage and financial planning. More than half of married respondents said they now wish they had requested money toward a home down payment instead of traditional wedding gifts.
The survey also illustrates how attitudes may be shifting across generations, including among older Canadians reflecting back on their own experiences. “I’ve always thought it was a shame to spend all that money on just one day,” one Boomer respondent from Quebec said in the survey.
Another Boomer respondent from New Brunswick described home ownership as “a gift that keeps on giving because a home will always appreciate in value.”
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Housing affordability is changing how couples approach major milestones
Royal LePage says rising housing costs — particularly in markets such as southern Ontario and British Columbia’s Lower Mainland — are pushing more couples to prioritize building equity over hosting expensive celebrations.
In British Columbia, respondents were the most likely in Canada to say they would request money toward a home purchase instead of traditional wedding gifts.
