Before the pandemic, many homebuyers prefer living in downtown areas for work reasons and to save time on daily commute. However, the pandemic brought changes to life and working conditions. As more companies now offer work from home option for their employees, many employees are now reconsidering their city lifestyle and move to a less crowded and bigger space in suburban neighbourhoods.
 
Based on a study done by Leger and initiated by RE/MAX Canada, 32% of Canadians now prefer rural or suburban communities than large urban centres. This mostly applies to those under age 55. Also, 44% of Canadians now wants a home with more space for personal amenities such as bigger yard, pool and balcony. Additionally, the report said that 48% of Canadians would like to live closer to green spaces, hospitals and clinics which is not surprising.
 
With the current work from home setup now a long-term option for most employees, daily commute is no longer a problem. Because of this, some people find it unnecessary to continue with expensive living in the urban core. Besides, the suburbs offer appealing bigger living area.
 
There is also an increasing activity in cottage sales in the last few months, reaching nearly $200 million in sales this year compared to $130 million last year according to Catharine Inniss, a realtor at Cottage in Muskoka Real Estate. As people experienced staying at home for longer periods, it is no wonder that those living in the cities are now thinking about purchasing a recreational property where they can do many outdoor activities.
 
This could be a temporary phase. When the working conditions return to normal, people will return to the cities.
 
If you are looking to buy a property in the suburbs, I can help. You can contact me at 647-834-9928 or send an email to [email protected]