Now that you’re in the market for buying a home, you may or may not have decided what type of neighbourhood you would like to live in. Choosing a neighbourhood is not just simply choosing a “nice area” based on a location that you prefer but buyers should also be looking for neighbourhoods with sustainable features when purchasing their home.
The Canada Home and Mortgage Corporation defines sustainable features as “an area that meets your needs while protecting the environment and leaving an affordable legacy.”[1] These types of features in an area can help to improve the quality of life as well as being a safe and pleasant place to live. These neighbourhoods can also include the following.
1. They provide close, convenient access to amenities such as work, schools, shopping, etc...This allows for people who are in these neighbourhoods to spend less time in cars driving and more time either commuting by public transportation or walking. This is a two pronged benefit because you are not only lowering the emissions levels being sent out into our environment, but also taking the time to invest in your health by walking or biking wherever possible.
2. They offer a variety of house types that give you the option of establishing a foundation within a neighbourhood that allows you to build roots, but also being an area that is able to move through life’s changes with you. For instance, you can find a neighbourhood that will allow you to purchase a home that you can start a family in. Then, as your family changes you can still stay within that same neighbourhood and find a home that best suits your changing needs.
3. They provide a safe and friendly atmosphere. No one wants to be stuck in a neighbourhood where they do not feel comfortable walking to the store. If you are going to build roots in this neighbourhood you want it to be somewhere that you will enjoy being.
4. It offers the best value for your dollar not just within the physical property but this refers back to the neighbourhood being easily accessible. Nowadays, most families have two cars for their household. However, if you are able to get around without the use of a second car then this cuts back on your costs for fuel and maintenance for two cars and therefore giving you a higher ROI.
As advantageous as sustainable features are, this option for choosing a neighbourhood is not for everyone. It isn’t advisable to look for a neighbourhood with these features if you are a home buyer who doesn’t want a smaller home to maintain or if you don’t mind commuting in traffic. However, with the benefits of sustainable features why wouldn’t you incorporate this into your home search?
You can find a list of Canadian cities that offer neighbourhoods with these important features at http://www.cmhc-schl.gc.ca/en/index.html.
[1] Thinking of Moving to A Different Home – www.chmc-schl.gc.ca/en/index.html
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- Elli Davis, Sales Representative for Royal LePage
- In the summer of 1983, I began my real estate career. Within 3 weeks, I sold my first home, a condominium at the well-established 'Granite Place' at Yonge & St. Clair. It was at this point I realized that Real Estate was my true love. I have now been in real estate for 29 years, specializing in Central Toronto areas such as Forest Hill, Rosedale, the Yonge Street Corridor, Waterfront, Moore Park, Lawrence Park, Deer Park, Chaplin Estates, Allenby and the Avenue Road/Lawrence area.
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