Joannah Connolly
Other
The finding that Canadians prefer to live in urban areas whereas older people prefer the suburbs is no revelation. But an interesting result of a new TD Bank survey is that all age groups agree that the suburbs are a better place to raise a family.
The survey of 6,149 Canadians aged 18 years and older, with a focus on a subgroup of 4,455 parents and prospective parents, found Canadians of combined age groups evenly split on where they prefer to live. One third of respondents said they prefer to live in the “urbs”, 31 per cent chose the “burbs” and 32 per cent prefer small town or rural Canada.
When split by age, millennials were the most likely to want to live in a major city (38 per cent), followed closely by Gen X (36 per cent), compared with only 28 per cent of baby-boomers (50- to 70-year-olds) and 29 per cent of the “silent generation” (aged around 70 or older).
However, all age groups largely agreed that the suburbs were a more suitable place to raise a family, as the infographic below shows.
“These survey results show the importance of ‘homefitting’ – finding a home that is the right fit for you at each stage of your life,” said Kate Taylor, senior manager, Real Estate Secured Lending at TD.
“For example, many younger people clearly see the appeal of urban living, but that can come at a price, which makes it even more important to start saving for the home of your dreams as early as possible.”
©Real Estate Weekly