Location, location, location—when it comes to making a move, where you live is often as important as the property you buy. If you’re trying to decide on a new ‘hood, here are eight important factors to consider.
Amenities and services
Don’t want to go far for errands? Living close to grocery stores, banks, pharmacies, doctors, and even restaurants and cafes can be a big advantage. Consider what you’ll use on a regular basis.
Schools
For families, good schools and daycares can be especially important to have nearby. There are a few things to think about—do you need elementary or secondary schools? What about a specialized school like French immersion or Montessori? Try the Fraser Institute to learn about schools and their rankings.
Transportation & Walk Score
Public transportation options are key if you’re commuting regularly. Alternatively, you may want a neighbourhood with a high walk or bike score, or that has easy access to trails, parks, and paths—you can check those scores here.
Safety
Feeling safe in your new neighbourhood is important, especially for families with young children. You can do your own research on crimes in the area before you move in.
Vibe, culture & recreation
Sometimes the “best” neighborhood isn’t always the right fit. Other factors, like nearby recreation facilities, access to the arts, and just the general vibe of the area can make a neighbourhood feel like home. It’s a good idea to spend time exploring the neighbourhood before deciding to move there.
Cost of living
Living in certain neighbourhoods can also correlate to a higher cost of living—utilities and taxes, food and grocery options in the area, sports and leisure fees, and transportation costs can all vary depending on where you live.
Future development
Consider the future of your desired neighbourhood, because it may not look the same in ten years. Is the area evolving? Check for upcoming construction projects, see if new businesses are opening, and find out about any upcoming transit plans.
Resale value
Buying a home in a highly desirable area can translate to high resale value down the road. Depending on your long-term plans, you may want to choose a neighbourhood that will benefit you financially in the long run.
