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Buying your first home is an exciting time but it also comes with many questions, concerns and in some cases, nerves. With that in mind, Canada Mortgage and Housing Corporation (CMHC) released today its 2015 First-Time Homebuyers Survey (#FirstTimeBuyers) coinciding with the fifth anniversary of Financial Literacy Month (#FLM2015).

“For many Canadians, buying their first home is the single, largest purchase they have ever made.” says Nathalie Fredette, Vice- President, Client Relationship Management. “Our aim is to provide mortgage brokers, lenders and other industry professionals with valuable information and useful tools so they can better guide their clients through this major life event.”

“CMHC’s survey results reiterate the central role that mortgage professionals play in providing first-time homebuyers with the information they need to manage their money and debt wisely,” said Jane Rooney, Canada’s Financial Literacy Leader. “The more we understand the financial literacy needs of Canadians, the better we can be at providing the right information at the right time to help them build their financial knowledge, skills and confidence.”

2015 Survey Highlights:
First-time homebuyers are two times more likely to use social media to research homebuying information than other mortgage consumers.
• First-time buyers are not as confident as repeat buyers. They tended to have a lower understanding of mortgage options and were more likely to find the mortgage process difficult. They were also less certain about where to go if they faced financial trouble.
• Over 70% of first-time homebuyers received advice regarding mortgage rates, terms, affordability and repayment strategies from their brokers and lenders. Advice on long-term mortgage strategies increased a first-time homebuyers’ level of understanding of options and their level of satisfaction with their mortgage professional by over 80%.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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