Downtown: An Affordable Option for New Home Buyers

It sometimes feels like the normal path for many Torontonians is to grow up in the suburbs, move downtown as a young adult and continue to live there as a young professional only to eventually move back to the suburbs to “settle down”. Some of this is driven by the belief that it’s simply too expensive to raise a family or buy a home in the city.

The City Offers a Lot For Young Couples and Families

The energy and convenience of the city are attractive features, but there’s also a lot more to city living that young couples and families can take advantage of. For instance, there’s green spaces and an abundance of dog parks. Culture in many different forms and a variety of libraries and public events can easily offset monthly entertainment costs.

Can one Raise a Family in a Condo?  

This might be the biggest question of all. And while that debate may never be resolved, you’re left weighing the pros and cons. For instance, many families want extra space and a backyard for barbecuing and where their kids can run around. While you will most likely sacrifice some space, condos do offer more security and less hassle than homes. For instance, a rooftop terrace with a beautiful swimming pool (that you don’t have to clean) can replace a backyard. Condos are becoming more valuable assets as perceptions on their resale value and livability are changing. 

The Benefits of Living Downtown  

Say goodbye to the rat race and long commutes on the DVP or GO Train. Beyond that, you have access to public transportation and more daycares, public schools and children’s programming per capita. Being the thriving city that Toronto is, downtown offers a lot of free family-oriented festivals from Taste of the Danforth to Pedestrian Sundays to various Christmas markets. Why not take the TTC, ride your bikes or walk to these events, without worrying about parking or traffic.

Toronto can be a pricey city in many ways, similar to other metropolitan cities in the world. But if your dream is to stay in the city, it could result in a smart investment and the convenience and culture could outweigh having to landscape a large backyard.

Tired of renting and ready for a change? Contact Canadalend today to discuss your future of home ownership.

Source: http://www.toronto.com/guides/fall-fun-guide/free-events-and-things-to-do-in-toronto/