November 18, 2020
There’s lots to love about downtown living. The energy, the entertainment, the connectivity and convenience, many homebuyers are choosing it over the alternate allure of the suburbs. With Millennials making up the largest segment of homebuyers today, and Generation Z expected to outnumber them within a year, there’s definitely a renewed interest in being in the hub of it all. Is downtown living your scene?
Downtown living offers a level of convenience that is totally unique. Everything is at your fingertips. The office is within walking distance. Your favourite restaurant and the bar are just a couple blocks away. For trips further afield, public transit is just outside your door, ready to roll when you are.
Downtown neighbourhoods are by nature older than their younger, suburban counterparts, and often steeped in culture and history, with a unique flair all their own. Whether it’s Vancouver’s historic Yaletown neighbourhood or Toronto’s off-beat Kensington Market, no two neighbourhoods in a city are alike.
Many older downtown neighbourhoods have experienced a revival, prompted by new residents moving in, scooping up fixer-uppers at lower prices, supporting new businesses or opening their own, and in time, transforming a down-and-out neighbourhood into the next hot ‘hood.
While suburban homes are typically brand new and beautiful, some have also been bestowed the moniker “cookie cutter home.” If you appreciate a home with history and the quirks of previous dwellers, downtown living could be right for you. As they say, they don’t make ‘em like they used to! Historic homes after feature things like vintage stained-glass window panels, antique door hardware, laundry shoots and more.
The suburbs give you more home for your money, downtown dwellers often enjoy a greater return on their long-term investment. And depending on which city you live in (or aspire to!) you can still find “affordable” homes in up-and-coming communities – if you can get in before the boom!
A home in a central location will naturally become a meeting place for family and friends. Your suburban bros can come get their urban fix, and having public transit at your door makes it super simple to get around. BONUS: You can just walk home after you’ve had a few bevvies!
For downtown dwellers who call a condo suite “home,” you won’t see views like this in the suburbs, with local landmarks and the buzzing streets at your feet. And if your unit is high up enough, you might even be able to see the ‘burbs from your balcony!