You often hear about “move-over” home buyers flocking to the suburbs in search of a place to call “home.” But with Millennial making up the largest segment of home buyers today, and Generation Z expected to outnumber them within a year, there’s renewed interest in being in the center of it all. In the heart of the action. Downtown. Here are 7 benefits that make a great case for downtown living.
Is downtown living your scene?
You’ve got action!
A big draw to downtown living is having urban conveniences at your fingertips. Your office is within walking distance. Your favorite restaurant and the hottest club are a short stroll away. For trips further afield, public transit is often just outside your front door, ready to do the driving for you.
Downtown neighborhoods are by nature older than their suburban counterparts, and thus are often steeped in culture and history, and flaunt a character all their own. Whether it’s Vancouver’s historic Yale town neighborhood, Toronto’s off-beat Pennington Market or Montreal’s vibrant Le Plateau-Mont-Royal, no two neighborhoods in a city are alike.
Many older downtown neighborhoods experience a revival, prompted by younger residents moving into the area to take advantage of fixer-uppers at lower prices, supporting new businesses or opening their own, and over time, transforming a down-and-out neighborhood into the next big thing.
While suburban homes are typically brand new and beautiful, they’ve also come to be classified as “cookie cutter” designs. If you appreciate a home with history – and often some unusual quirks – downtown living could be right for you. As they say, they sure don’t make ‘em like they used to! Think vintage stained-glass window panels, antique door hardware, laundry shoots, etc.
Higher property values.
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!
Hello, party central!
By virtue of being at the heart of the action, your place will naturally become the meeting place for friends before going for dinner at the trendiest restos, or out for a night on the town at the hottest clubs. (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 get views like this in the ‘burbs, with local landmarks in view and the bussing world at your feet. And if your home is high up enough, you can probably even see those suburbs from your balcony!
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