Should You Be Buying in the City or the Suburbs?
So, you’re thinking of buying your first home. Coming from both personal and professional experiences, we get that there are many feelings to be had, considerations to be thought of, and decisions to be made. It’s a milestone moment and there’s a lot to take into account – a realtor, space, price and convenience for starters. All of this becomes part of a conscious choice between buying in the city versus buying in the suburbs. Where should you live?
10 Questions to Ask Before Buying in the City or Suburbs
When it comes to buying real estate in the Greater Toronto Area (GTA), your options for looking in the downtown core or outside the city are substantial. That being said, there are 10 key considerations to factor in and questions to ask when weighing your options of where to live and why to live there.
- Affordability: Beyond housing prices, what do you want to afford in terms of cost of living and how much can you save by living in one area versus another?
- Lifestyle: Do you enjoy the hustle and bustle of city living or prefer the laid back way of suburban life?
- Life Priorities: What job and educational opportunities are available to you and your [future] family?
- Entertainment: What social activities (indoor vs. outdoor) are important to you?
- Proximity: How far are you willing to commute for work, groceries, entertainment, and amenities?
- Mobility: Will you be in walking distance, or have access to public transportation or a vehicle to easily get around?
- Community: What types of social opportunities do you want in a neighbourhood?
- Size: From lawn size to basic square footage, how much space do you need or are willing to sacrifice?
- Living Space: Would you rather have the compact comforts of apartment living or bigger and roomier (but further) housing?
- Privacy: Are you comfortable sharing your amenities with neighbours or do you prefer a backyard that’s your own?
Whether you end up buying in the city or the suburbs, ultimately, it comes down to personal preferences. Among deal makers, or breakers, are all these factors to consider. Where you buy your first home to live, will have a great impact on your overall quality of life. Ask yourself, what matters most to you? And remember, there’s no right or wrong answer.
Where do you want to live? Let us know!
