Millennials consider a lot of factors when it comes to choosing a potential partner. But a new survey found that a surprising amount of them place property ownership above attractiveness on their checklist.
The results were part of HSBC’s annual Beyond the Bricks survey, which sheds light on millennials’ attitudes towards homeownership. According to the poll of more than 1,000 adult Canadians, only 2.8 per cent said appearance was a top priority, compared to 12.7 per cent who said a “property-related quality” was No. 1.
This property-related quality refers to having similar home-buying aspirations and goals. Being on the same page about the type of future home they’ll have (ie. townhouse vs. condo) and its location (ie. suburb vs. city) were top factors for 9.9 per cent of survey participants.
The fact that property-related qualities are placed above good looks shows that the dream of homeownership is still strong, despite the tough market and high house prices. But 61 per cent of millennials still feel anxious about buying property, according to the survey.
It will take the average Canadian millennial 13 years to save for a 20 per cent down payment, a previous study found. So it’s no wonder the generation would rather date someone with compatible homeownership goals.
Specifically, 1.4 per cent of participants said they’d base their dating decision on whether or not a potential partner had good prospects of being a future homeowner. Another 1.4 per cent said they’d even go as far as basing their decision on whether or not they were a current homeowner.
But placing so much emphasis on real estate in a relationship has its downfalls. The survey found that Canadian millennials value property so much that they’ve stayed in a bad relationship because of it. The study found that 11.8 per cent stayed because they had bought their home with their partner, while 9.3 per cent stayed because they couldn’t afford to buy a new home by themselves.
Of course, real estate isn’t the only priority when it comes to dating. Millennials also value shared interests and hobbies (26.8 per cent), intelligence (16.9 per cent), and a sense of humour (14.1 per cent).