Following the global outbreak of COVID-19 this year, we saw a large trend of Toronto-based homeowners move away from the city. However, considering the pandemic’s reach has no borders, we know there’s much more cause for moving out of Toronto than just fleeing the virus.
With most corporate and office-based jobs transitioning to Work From Home methods, the freedom of being able to work from wherever ‘home’ is has allowed many homeowners to reconsider their living situations.
Whether you’re a newly-adopted WFH’er or are just looking to escape the busy downtown core, here are our four reasons why moving out of Toronto is a good idea.
More Bang for Your Buck
With the average price per square foot of homes in Toronto sitting at $1,083 this year (the second-highest in Canada, after Vancouver), it’s becoming increasingly difficult to find affordable homes there.
Comparatively, the average price per square foot in Toronto’s surrounding areas is much cheaper. For example, with an average price per square foot at just $343, the cost of owning a family-friendly home in Hamilton is much more palatable.
The Home Office
When the Working From Home movement was widely sanctioned by office employers at the start of 2020, many homeowners in downtown Toronto dreaded the idea. Finding a practical space to work in a small home or condo unit seemed inefficient, especially if a partner or spouse needed to do the same.
Homes with the potential of hosting one or multiple office spaces are a huge selling point for office workers moving out of Toronto. With larger homes costing less on average in Toronto’s surrounding areas, designated home offices or convertible spaces like dens or guest bedrooms are in high demand.
Lower Cost of Living
Depending on your lifestyle, establishing an overall cost of living can be largely variable. When considering mundane day-to-day expenses, however, there is almost no argument that the cost of living in one of Toronto’s surrounding areas is lower.
Analyzing everything from utilities, groceries, entertainment, and recreation, you’ll find there is much less of a premium placed on the cost of living after moving out of Toronto. Where convenience and competition tend to raise prices for everyday necessities downtown, moving out of Toronto into areas like Burlington, Hamilton, or Waterdown means you’ll most likely be paying less for those same products and services.
A More Outdoor-Oriented Lifestyle
Toronto is not only one of the busiest cities in Canada, but it also has one of the highest population densities in the country too. According to the most recent Canadian Census reports in 2016, Toronto’s population density was an overwhelming 4,334.4 people per square kilometre.
Comparatively, the nearby City of Hamilton’s population density was a little over one-tenth of that at 480.6 people per square kilometre. With fewer people and more space to move around, those who choose to move out of Toronto will find they are able to practice a more outdoor-oriented lifestyle.
With ample access to public parks, green spaces, and recreational facilities, there are so many opportunities for residents across Toronto’s surrounding cities to practice their favourite sports and activities outdoors — not to mention in their sizeable backyards!
Related: Our Guide To All Things Waterdown
Are you thinking of moving out of Toronto? We’d love to help. Learn everything you need to know about making the jump by contacting us here — we’re ready to listen.
