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Living In The City, Suburbs Or Countryside – Which Is Best For You?

Living In The City, Suburbs Or Countryside – Which Is Best For You?

As the time comes around for you to buy your first (or subsequent!) property, you’re likely looking at a few factors such as what kind of home you can afford, where you’d like to live and what the pros and cons are of the area you’ve considered. We meet so many city slickers who swear they would never consider moving to the suburbs, only to change their minds once they realize how much more space they’d get for their money and how nice it is to entertain friends in their backyards in the summertime.

Here are a few of the pros and cons when it comes to living in the city, suburbs or countryside.

Living in the city

Pros:

  • You can easily get by without owning a car and can opt for car sharing services when necessary
  • Likelihood of a quicker commute to work 
  • Excellent public transit
  • Lots of cultural attractions
  • Easy proximity to bars and restaurants
  • Consistent demand for city-based real estate means that you’ll build equity in your property

 

Cons:

  • You’ll get less space for the same price in comparison to suburban or rural areas
  • You might only be able to afford a condo instead of a full home
  • Nearly everything will be more expensive, from childcare to groceries
  • Higher property taxes
  • Less privacy and possible noise issues due to population density

 

Living in the suburbs

Pros:

  • More outdoor space (yards and gardens)
  • Higher proportion of households with children (if you have a similar lifestyle)
  • Good schools
  • More privacy yet still populated
  • Most amenities within a convenient driving distance
  • Lower housing costs and more space for your real estate dollar

 

Cons:

  • Longer commute to get into the city (if you work there)
  • Low walkability score
  • Will most likely need to own a car
  • Fewer arts and cultural attractions, entertainment options and dining venues

 

Living in the countryside

Pros:

  • Even lower housing costs and more space than the suburbs
  • Access to nature such as lakes, forests, walking paths and more
  • High air quality
  • Plenty of privacy

 

Cons:

  • Susceptibility to extreme weather (power outages, being snowed in)
  • Increased chances of a long commute to work, errands, entertainment and medical care
  • Less opportunities to socialize
  • Little to no public transport

 

Are you planning to buy a property soon and having trouble deciding which type of living suits you best? One of our mortgage brokers would be happy to discuss further with you and guide you towards the right choice. Call Capital Mortgages at 613-228-3888 today.

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