For many, affording a home in today’s competitive market is more like a pipe dream than a reality, yet first-time homebuyers still make up a huge percentage of the market.

So, how are these Gen Y homebuyers doing it? If you think they’re getting help from their baby boomer parents, you’re half right. First-time homebuyers have more than a few tricks up their sleeves for affording a home on a tight budget.

Using data from Genworth Canada’s First-Time Home Ownership Study, our friends at Ratehub created an infographic to explain how Gen Y is breaking into this tough market. This is the latest in their impressive collection of detailed graphics — check it out below:

Infograph

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