Best Places for Millennial Home Buyers

The best places for millennial home buyers may not be the big city after all.

A 2020 Ryerson University study found millennial home buyers between 22 and 40 living on Toronto’s outskirts.

A 2022 youth study could explain why that is.

Millennials teenager gathering


2022 ‘Sucks’ Gen Y and Z Say

Saying millennials and zoomers (Gen Z) think 2022 will suck understates their case. Young Canadians are fearful the new year won’t bring significant financial changes, or improve the country’s social, political, and environmental situation.  

Gen Y and Z are fearful about the future, and “without hope for their collective and individual future,” annual youth study sponsor Leger concludes. Pessimism aside, 27% of 3,015 millennials and zoomers surveyed wanted to work from home, and 45% preferred flexibility in creating their own schedules.

How CMHC high ratio mortgages work

What Millennials Want in a Home in 2022

That brings us to our six best tips for millennial home buyers on finding a nest in 2022.

Housing supply has long outstripped income growth in the GTA, the Centre for Urban Growth and Land Development observes. With millennials “aging into their peak home buying years”, figuring out what do millennial home buyers want in a home is more compelling than ever.

Millennial home buyers are looking as far as Simcoe County and Durham or Halton region for lower prices and proximity to the GTA. Ottawa-Gatineau and Kitchener-Waterloo have their own appeal.

Down payment rules for first time home buyers in Ontario. 

Small wonder. Historically low interest rates and the pandemic have pushed new millennial home buyers into making a commitment. A full quarter of home buyers between 25 and 35 bought during the COVID-19 crisis, Royal LePage reveals.

Seeking advice from your lawyer

How Millennials Are Buying Homes

How millennials are buying homes probably won’t surprise you. Parents are loaning or gifting down payments or cash top ups to aid 40% of millennial home buyers. Dipping into parental savings or investments is commonplace as house prices accelerate.

Wise choice, because relative bargains are still out there for millennial home buyers.

Shared responsibility: what adding names to house title in Ontario costs.  


Lake Simcoe treasure Brock led millennial choices in Durham Region. The handful of properties on the MLS is disconcerting, and the commute is way out, 90 minutes by car. But the lower than average $774,500 price tag scores an updated four bedroom, two bath bungalow.


Canada’s motor city, Oshawa, rings in at around $964,097 for a two-storey family home with three to four bedrooms. Millennial home buyers can find a modern condo, rowhouse, or townhome for $655,979 to $761,002 or less in this Durham region city, and be only 50 minutes from Toronto.

First time home buyer incentives that make a real difference. 

Essa and Scugog

Simcoe County’s small towns are alright with families and singles who work remotely. Millennial home buyers with visions of relaxing weekends at the lake have their choice of Essa township, 15 minutes from Lake Simcoe, or Scugog on Port Perry. Two-storey contemporaries average $988,938 in Essa, putting millennial home buyers close to Utopia, a hamlet of 100, or CFB Borden. Sprawling brick ranchers on generous lots are around $994,326 in Scugog.   

Halton Hills

Charming Halton Hills on the Niagara Escarpment is within millennial home buyers’ grasp, with a semi-detached going for $905,000. Toronto commutes are a quick 40 minutes. Halton Region residents enjoy plenty of exercise from constant elevation changes, and long hikes to green spaces. Millennial home buyers can count on driving almost everywhere. Transit service is minimal.

Who qualifies as a first time home buyer. 


The Capital Region District can be a tough sell for millennial home buyers. If prices drop in unison with higher interest rates, mortgage pre-approvals could prove a valuable asset. Pandemic uncertainty has forced “move-up buyers and downsizers” to hold onto what they have, real estate analyst Desjardins says. Housing prices in Ottawa-Gatineau averated $676,607 in January 2022. While resale homes are slow to list, the dual city made Axess Law’s best places for millennial home buyers with detached homes for $771,739, and apartment condos north of $500,000.

Private mortgages for when you are credit poor and house rich.


Insane price increases of 35.5% blew up credit poor millennial home buyer ambitions in Kitchener-Waterloo. Buyers who failed to dive in when 2021 prices hovered near $894,974 face a $1.15 million average tab for a single family home. Hesitant condo buyers are also in for sticker shock. Prices have soared by 42.7% in a single year. Even then, a condo for around $538,239 is a decent starter option, and semi-detached row houses and townhouses give millennials the essentials for less.

Connecting with your lawyer

Why You Need a Real Estate Lawyer

Adding a professional home inspection to your offer brings you the peace of mind you can cancel a home sale if needed. Axess Law ensures your agreement of purchase and sale is conditional, and on your terms.

Don’t let home inspections go sideways. 

We assist first time home buyers by including essential clauses that give you more flexibility. Need time to find your first mortgage loan? We negotiate with the seller’s lawyer to amend sales agreements, or see if you can walk away with mutual consent.

Discharging a mortgage when you move up. 

Axess Law’s virtual real estate lawyers search title to properties for construction liens or financial claims that block your purchase. We register title in your name, and add family members to a property title when you share a mortgage or have co-signers.

Making Home Ownership Affordable Again

Axess Law’s low, flat rate legal fees keep home ownership affordable for millennial home buyers and first time home owners. We keep our fees reasonable by charging for only the legal services you absolutely need. Axess Law has cheap lawyers in Toronto area, Ottawa, or you can close your deal by remote video conference anywhere in Ontario.

Your legal fees are just $999.99 and up plus HST when you buy, or $799.99 and up plus HST to sell an Ontario property. We add spouses to title to a property for $649.99 and up plus HST.

How virtual lawyers make real estate closings easy on you. 

Book Online or Talk to Live Operators Today

Book appointments that suit your schedule online. Our easy booking form lets you pick times and dates that work for you. Get personal assistance making an appointment by calling our 647-479-0118 lawyer line, toll free to 1-877-402-4207. Drop into any Axess Law office in Ottawa or Greater Toronto Area if that’s more convenient. Axess Law has onsite parking, and easy transit access. Dial us today for real estate lawyers day or evening, 7 days a week.