Deciding between Urban or Suburban

Deciding between Urban or Suburban 

Location, location, location! Are you familiar with this term? Pretty sure by now you are, since this is the most common thing you will see in the real estate ads, but they are there for a valid reason.

Each year home buyers across, struggle with their residence of choice and not every family prioritize in the same way, but putting everything in a nutshell, you can say that it boils down to 3 factors: your money, your time and your lifestyle.

At first glance, you may imagine that living in the suburbs will provide you the kind of life you were so much looking for your family, having the space they require and spending the quality time with them. “We moved to give our kids a better lifestyle" said Jenny “We discovered we had more family time when we lived downtown".

Some families find themselves living in the urban areas in a more confined and pricier dwelling, within walk steps to school, shops and work; or simply paying less for a larger suburban dwelling with a huge backyard and ample parking.

A Study in 2016 shows the appreciation of houses in intervals of 10 minutes away from downtown, having the City Hall as the reference point. Demonstrating an average of 23.28% price difference in the houses as you move outwards the city, this percentage is more prominent within the 20 to 30 minute mark.

According to the TREB( Toronto Real Estate Board) Quarterly report of 2019 , the Toronto Area leads the percentage of Transaction by a 36.38% , followed by Peel with a 21.55%, York with 15.96%, Durham 11.98%, Halton 10.62% and lastly Simcoe with 3.51%. Confirming that having a more developed area, communities and proximity seems to be the choice of preference.  Of course, home prices are far from the only factor home owners consider. The time spent commuting, along with lifestyle preferences and proximity to amenities complicate matters. While this decision is often seen as a trade-off, in reality, it’s more like finding a sweet spot, a delicate balance between cost and commuting time and how close you are to friends, family and amenities. It’s the place where building a family home is an act of love, not a mathematical science, just let your realtor of preference handle the mathematical matters.

I hope you have found this brief article interesting, this is for you to have some facts at a glance, if you found this helpful, please go to the comment section and let me know what you think, Happy purchase !