Downtown living has its appeal, but the rising prices and smaller spaces that characterize many urban communities have given rise to a growing category of homebuyers, dubbed the “move-over buyer,” who are increasingly viewing the suburbs as the most feasible solution.
For the move-over buyer, the home hunt is about striking a balance between size, price, and other liveability factors. Living just outside the city limits has its pros and cons. Here are some arguments in favor of the sweet suburban life:
- Lower Price: Homes in the suburbs are typically cheaper than their urban counterparts. Property taxes are also lower for a comparable plot of land. But buyer beware. While your mortgage payments will be lower outside of the city, make sure to consider all your living expenses. You may need to purchase a second car, and a bigger home also means higher maintenance and operating costs.
- More Space: If you’re not necessarily looking to spend less money, a home in the suburbs can mean more land, more home, and more bells and whistles. A front, back, and even a “side” yard (yes, it’s a thing in the suburbs); spare bedrooms (with ensuite!); a sweet basement rec room; a pool… These are all attainable in the suburbs without spending in the millions.
- Less Crowded: The suburbs are often associated with peace and quiet, privacy, parking spots galore; easier access to children’s daycare and recreation programs; and doctor and dentist appointments are generally easier to come by. For home hunters with a growing family, these alone are worth the trade-offs that come with moving away from the big city.
- Amenities: Local community facilities in the suburbs are impressive. Because these areas are typically newer developments, the community centers, schools, libraries, and parks are also new – and they’re impressive. Clean, bright, open, and outfitted with modern technology, these spaces are well-used and well-loved by suburbanites.
- New Infrastructure: Suburbs often boast new developments, which includes infrastructure like roadways, bridges, public transit systems, and sewer systems. Also, underground power lines!
- More Green Space: Suburban communities are often surrounded by undeveloped land, which often means farms, fields, forests, and wildlife. This also means better air quality, depending on how far you actually are from the downtown core.
- Best of Both Worlds: The suburbs offer relative proximity to both city and country life, providing a balance between price, space, and other liveability factors.
For assistance in finding your ideal suburban home, consider reaching out to Fardad Farhanian, the best real estate agent in North York.
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