Generational divide in the city suburbs debate

So, what's it gonna be: the urbs or the 'burbs? The outcome of the persisting city suburbs debate depends on who you ask, and more specifically, their age and life stage, according to a recent survey by TD Canada Trust. It's no real surprise that while younger Canadians flock to downtowns the country over, the older crowd prefers the peace of rural locations and small towns. And when it comes to raising a family, everyone agrees: 'burbs rule.

City slickers & country folk

Among those surveyed, city living was the top choice by a hair, preferred by 33 per cent of Canadians, followed by 32 per cent who would opt for small town or rural Canada, and 31 per cent choosing the 'burbs to call "home."

Millennials made up the largest group of city-zens, at 38 per cent, with Gen X-ers making up 36 per cent. While the younger demographic is attracted to the convenience and undeniable "cool factor" of downtown, congestion and the high cost of living turned parents and parents-to-be in these same age groups off the city-bound track, opting instead for the affordability, larger homes and less congestion found further from the core.

TD's senior manager of Real Estate Secured Lending at TD, Kate Taylor, speaks to the importance of "homefitting" – finding a home that meets buyers' changing needs as they move through life's stages. “Many younger people clearly see the appeal of urban living, but that can come at a price,” she says. Translation: more money, less space. But for many, the urban convenience is worth the trade off.

Taylor offers a bit of advice to the young urbanites in the market for a home and a family: keep an open mind.“That doesn’t have to mean moving out of the city, however, as our survey found many younger people would consider staying in an urban setting if they could find a family-sized condo in which to raise a family," she says. With the rising trend of two- and even three-bedroom condo suites and townhomes, urban living has become more affordable. Factor in the money you'll save by forgoing a car, and a downtown home could be well within reach.

Related reading:

On the urban suburban debate: Empire exec chimes in

or suburbs: The costs are more similar than you think

Size doesn't matter when location is the trade-off