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TD Report: Alberta Repeat Home Buyers Less Willing to Compromise

Alberta Repeat Buyers less likely to compromiseCALGARY – August 23, 2011 – TD Canada Trust Repeat Home Buyers Report (released today) finds many repeat buyers in the province feel they compromised on features of previous home purchase - Albertans are the most likely in the country to feel they compromised on the layout and features of their current home and are not willing to do so again in their next house hunt. The TD Canada Trust Repeat Home Buyers Report, which surveyed Canadians who recently bought or intend to buy a home that is not their first, found that six-in-ten (59%) Albertan repeat buyers are moving on to larger or more luxurious homes. Even though many are upgrading, they are among the least likely to need a mortgage to finance the purchase (58% versus 69% nationally).
The large majority of Albertans (84%) plan to sell their current home before buying a new one. More than one-in-five (22%) say market conditions played a factor in their decision to buy another home. Seven-in-ten Albertans expect to sell their home at or above asking price (69%). This is despite the fact that they are least likely to plan to try and improve resale value with activities like staging or renovating or improving the curb appeal of their home before putting it on the market (70% versus 75% nationally).
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