Migration from big cities a growing trend
This year hasn’t been what any of us could have predicted. There have been a lot of expected and unexpected developments since the first recognized cases of COVID-19 were discovered in March.
Cities initially were the hardest hit by the pandemic. There were lockdowns, school closures, travel bans…This is all recent history. I don’t have to remind anyone of how the Coronavirus impacted our lives and how we have adapted to working and living in this new reality.
A trend created by the pandemic is a migration from big cities to suburbs and exurbs — cities and towns further away from the denser inner suburban areas of the GTA.
Pandemic real estate trends
Fears of COIVD-19 spreading in densely populated urban areas and in condo buildings have had a big impact on the real estate market. Most of Canada’s condo markets are down from peak prices. Greater Toronto home sales are on fire — everywhere but in the actual city. Kitchener-Waterloo is also seeing bidding wars and ever higher prices. Suburban areas (including Kitchener-Waterloo which isn’t a suburb of Toronto) are seeing record-breaking real estate transactions.
Many people are realizing that following the stay-at-home orders, that they would like to have more living space indoors and out.
A new trend of more and more people working home, possibly for the foreseeable future, means amenities like home offices and home gyms have become increasingly important.
Also, many urban residents say there just aren’t the things that made city living appealing for them anymore, whether that’s schools, bars, restaurants, or theatre.
The benefits of moving out of The City
The biggest benefit of moving away from Toronto to cities like Kitchener-Waterloo is that you will have more indoor and outdoor space. A more suburban home can provide you with privacy, and more distance from your neighbours which is important when your entire family is working and studying from home.
Private outdoor space will improve your quality of life, especially if you’re staycationing this year. Great outdoor space is needed for your kids, yourself and your pets. You can turn your backyard into an oasis with a pool, patio or deck furniture, barbecue, or anything else that your family desires.
Suburban life is quieter, and tends to have lower crime rates than big cities.
The importance of choosing the right neighbourhood
Take the time to get to know Kitchener-Waterloo’s neighbourhoods. When you move to the suburbs, choosing the right neighbourhood is more important than the house you choose. If you have kids, you will want something family-friendly and in a great school zone.
If you don’t have kids, you might want something offering walking distance to Uptown, Downtown, commuter lines, the LRT…
Contact me. I can help.