Love & Mortgages: Why More Canadians Are Choosing Homeownership Over Marriage

Valentine’s Day is here, and while love may be in the air, so is financial stress. A new BMO survey reveals that 56% of Canadians say the rising cost of living affects their dating lives, leading many to cut back on outings, plan budget-friendly dates, or even avoid dating altogether.

Meanwhile, another trend is emerging—many Canadians prioritize homeownership over marriage. According to Point2Home’s Renter to Homeowner Survey, nearly four in 10 renters are willing to apply for a mortgage alone, shifting the traditional narrative that buying a home requires a partner.

With love getting more expensive and real estate dreams taking priority, Canadians are rewriting the rules of romance and financial commitment. Let’s dive into how dating, money, and homeownership are evolving in today’s economy.

The High Price of Love: How Much Are Canadians Spending on Dating?

Dating isn’t cheap—BMO’s findings show that the average date costs $173, covering transportation, grooming, attire, food, drinks, and entertainment. With partnered Canadians going on 10 to 21 dates before making things official, dating expenses can add up fast—potentially reaching $3,621 before exclusivity.

What’s driving up the cost of dating?

• Inflation & Cost of Living: Consumer prices have risen 17% over the past four years, while food costs have surged 22%, making everything from dinner dates to movie nights pricier and more expensive
• Higher Expectations: For many single men, financial status isn’t just about stability—it’s a factor in their dating lives. In fact, 48% say their net worth influences their romantic prospects, a concern 12% more common than among women. 
• Financial Incompatibility Fears: 38% of singles say dating expenses have impacted their ability to reach financial goals, while 41% have left a date feeling like a waste of time and money.

With love becoming more expensive, many singles are choosing to invest in themselves and their future by buying a home instead of finding their one true love.

Forget Marriage—Canadians Are Falling in Love with Homeownership

Once upon a time, couples would get married, pool their finances, and buy a home together. Not anymore.

The Renter to Homeowner Survey reveals that 42% of renters—excluding older Millennials—are considering applying for a mortgage alone. While older Millennials are still following the traditional path of buying with a spouse, younger Millennials, Gen Z, Gen X, and even Baby Boomers are increasingly going solo on homeownership.

Why are so many Canadians choosing homes over marriage?

✔ Financial independence: Many singles want to build equity and wealth on their own terms without waiting for the “right” person.
✔ Rising home prices: With 39% of renters citing high home prices as their biggest obstacle, many are acting now before affordability worsens.
✔ Changing priorities: A mortgage is increasingly seen as a more significant milestone than marriage, especially among Gen Z and younger Millennials, 72% of whom plan to buy within the next 12 months.

The traditional “two incomes are better than one” homebuying strategy is fading as more Canadians embrace solo homeownership.

Dating on a Budget: How Canadians Are Cutting Costs on Romance

With inflation and financial concerns growing, many Canadians are rethinking their dating strategies:

• 42% of singles have adjusted their date plans to cut costs.
• 30% have cancelled a date to save money.
• 60% refuse to pay for dating apps or matchmaking services, spending only $16 annually.

Instead of extravagant dinners and weekend getaways, many are opting for affordable, meaningful experiences, such as:
✔ Outdoor adventures like hiking, ice skating, or exploring local parks.
✔ Home-cooked meals & movie nights instead of costly restaurant outings.
✔ Budget-friendly cultural activities, such as free museum days or community events.
✔ Coffee dates instead of fine dining, keeping first-date expenses low.

While financial pressures are changing dating habits, they’re also influencing long-term relationships.

Love & Money: How Couples Are Managing Money in Relationships

Money is one of the most significant stressors in relationships, and one-third (33%) of partnered Canadians say spending is a frequent source of conflict. Couples are also facing challenges related to income differences, financial transparency, and shared expenses:

Financial conflicts in relationships:

• 38% believe their partner spends too much.
• 27% say income differences create tension.
• 11% have been dishonest about their finances with their partner.

Despite these challenges, many couples recognize the importance of financial discussions in a relationship:

• 82% believe finances should be discussed early on.
• 46% say the ideal time to combine finances is engagement or marriage.
• 24% prefer to keep finances separate.

Being open about money can strengthen relationships and help partners align financial goals.

Financial Green & Red Flags: What Matters Most in a Partner’s Finances?

Money isn’t just a personal concern—it’s a dating dealbreaker for many. When evaluating a potential partner’s finances, singles prioritize:

✔ Financial responsibility (95%)
✔ Open discussions about money (88%)
✔ Having a financial plan (87%)
✔ A successful career trajectory (83%)

On the flip side, red flags include poor credit scores and major income disparities, with single women being 7% more likely to consider low credit scores a dealbreaker.

With financial compatibility playing a major role in modern dating, couples who communicate about money early on tend to have healthier relationships.

Tips for Navigating Love & Money

Whether single or in a relationship, balancing love and financial health is crucial. Here are some expert tips for managing money while maintaining a fulfilling romantic life:

Plan Budget-Friendly Dates: Romance doesn’t have to break the bank. Look for free or low-cost experiences that are as meaningful as high-end dinners.

Be Open About Finances Early On: Discussing financial habits, debt, and money goals early in the relationship can help build trust and prevent surprises.

Prioritize Financial Independence: Before merging finances, ensure a solid individual financial foundation, including an emergency fund and a savings plan.

Consider Homeownership—With or Without a Partner: If homeownership is a goal, don’t wait for marriage to take the plunge. Many Canadians are successfully buying solo and building long-term wealth.

Beware of romance scams: Financial fraud is rising, and more people are using online dating. Avoid sending money or sharing financial details with online matches.

Seek Professional Financial Advice: Meeting with a financial expert can help align financial goals as your relationship evolves, whether moving in together, getting engaged, or buying a home.

Love & Money in 2025

In a world where the cost of living is climbing, and modern relationships are evolving, one thing remains undeniably attractive—financial independence. Whether navigating first dates or planning for the future, owning a home now can set you up for long-term success in both love and money.

Why wait for your perfect match to start building wealth? Whether solo or with a partner, secure your future, grow your equity, and be ready for that dream home. It starts with a chat with a nesto mortgage expert today – your first step toward homeownership on your own terms.📈💔

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