The Retired Homeowner: Trends and Future Plans report offers insights into the home ownership trends of soon-to-be retirees, including their mortgage status and whether or not they plan to downsize.

According to the survey, nearly three in ten Canadians (29%) who are planning to retire in 2025 or 2026 say they will continue to make mortgage payments on their primary residence into retirement.

“The benefits of entering retirement as a homeowner with a paid-off mortgage are clear: more disposable income, insulation from interest rate changes, and even the emotional security that comes from knowing you’ll always have a place to live. In the era of rotary phones and station wagons, burning your mortgage was the economic finish line. Today’s retiree reality is much more nuanced,” said Phil Soper, president and CEO, Royal LePage.

Key highlights from the release include:

• Three in ten Canadians (29%) planning to retire within the next two years say they will carry a mortgage into retirement.

• Nearly half (47%) of Canadians approaching retirement say they do not plan to downsize their home.

• 43% of Royal LePage experts say condominiums are the most popular property type among downsizing retirees.