Living in the City vs. the Suburbs: Pros and Cons

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here’s a lot to like about buying a home in the suburbs instead of the city. Houses are bigger and more affordable on the outskirts. Arguably, the quality of life is better too. Small communities have quality schools, low crime rates and plenty of amenities nearby, which is desirable when you’re raising a family. Related: Pros And Cons Of Waiting To Buy A Home On the other hand, most jobs are located in the city, so if you live in the suburbs you’ll be faced with a long commute each day. That means more time and money spent travelling to work. With gas prices touching $1.40 in some provinces, the extra costs can really add up. City vs. Suburbs Friends of ours, Dan and Heather, built a house in a small town about 35 kilometres from Lethbridge, AB. Their home cost $320,000 – about $100,000 less than a similar home in Lethbridge – and their lot is twice the size. Heather works in town, and Dan works in Lethbridge. His drive to the office takes about 35 minutes each way. Between his daily commute, and their trips into Lethbridge for grocery shopping and entertainment, they spend $550 a month on gas. Related: Is A Long Commute Destroying Your Job Satisfaction? We chose to build our house in a new community in Lethbridge, which is only 3.5 kilometres from where I work. Our home cost $420,000, and the lots are smaller than what we’d get out in the suburbs. Since I have such a short commute, we only spend $125 a month on gas. Which is cheaper? Most people assume that living in the suburbs is much cheaper than living in the city. And while Lethbridge is not exactly downtown Toronto or Vancouver, the comparison between city and suburbs is still valid. So who’s better off? Financially speaking, it’s a bit of a draw. Let’s look at the numbers. Dan and Heather put 20% down on their home, and have a mortgage of $256,000. Their

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