A few years ago, if you asked someone in the younger generation if they’d ever want to move to the country, the answer was usually a resounding “Not in this life!” However, times change, and “never” is a strong word. With the cost of living going up relentlessly, and the fact that more people can now work from home, the idea of country living is starting to have some appeal.
The pandemic has permanently changed the lifestyle choices of many people. Those recently freed from their offices are heading out of the city in record-breaking numbers. Some are looking for up-and-coming neighbourhoods just outside of Toronto, where they can buy a home for far less money. For others, it’s about more than saving on costs. They’ve had enough of the noise and crowds of the city, and are searching for the acres of wide-open space that you only get in the country.
The Excitement of Countryside Living
The words “country life” were once associated with peace, tranquility, and perhaps a touch of boredom. They generally didn’t conjure up images of fun and excitement, but that has changed. Maybe it has something to do with the success of popular shows like Anne with an E, Heartland and Yellowstone that portray living in the country as anything but boring. Whatever the reason, homes in the country are suddenly in hot demand, even with the younger generation that once vowed that they would never live there! There are many adventures to have in the country, especially for someone who is athletic and loves nature. Hiking, jogging, fishing, hayrides, corn mazes, snowmobiling, skating, and bike riding are just a few activities families can enjoy together.
Are you ready for a new kind of excitement? Here are a few more topics to know about before you buy a house in the country:
- Five Things to Know Before Buying a Home With a Well
- Your Guide to Land Surveys
- A Few Things to Know About Buying Vacant Land
This sense of adventure has more and more people looking to buy a house in the country. Of course, rural life offers a different type of excitement than the nightlife and bar scene in the big city. But many millennials and Generation Zers have outgrown their party years. They’ve got young families now, and nothing is better than a country home for many of them.
Moving to the country isn’t just about having new adventures. It makes sense from a financial perspective.
For less than the cost of a tiny, cramped condo in Toronto, a family can reside in a sprawling, luxurious four-bedroom house with a massive backyard for the children to play in. Perhaps even with room for an inground swimming pool. The savings don’t end with the cost of the home. Property taxes are lower, and so are insurance premiums. Even groceries and gas tend to be cheaper the further you get away from the GTA.
What does this mean for your rural home?
If you happen to own one of these rural homes, there has never been a better time to put it on the market. There are far more people looking to buy these spacious country homes than there are owners willing to sell one. This is great news for you if you have ever thought of moving to a smaller house or condo in the outskirts of the GTA. Your home will sell quickly, and the proceeds can help fund your retirement, a new investment or your ultimate dream vacation.
How Inflation is Changing the Real Estate Market
It’s not just housing prices are going up. Turn on the news, and all you hear is talk of inflation. Everything costs more than it did even a few months ago, including gas, grocery, and merchandise. Everywhere is affected, but nowhere more than the GTA.
What You Can Do to Escape Inflation
The cost of living in rural areas and smaller cities is far less than in Toronto and the surrounding area.
Moving to the country is one way to lower your expenses and enjoy an active lifestyle. However, if the thought of maintaining a large country property is too much, there is another option.
Cities like Peterborough are another refuge to help you escape rising inflation. And yet, you can still enjoy all of the conveniences of living in Toronto. For example, Peterborough has such a high walkability score that it has actually been recognized by Walk Friendly Ontario (WFO).
The affordability, lifestyle and amenities make Peterborough a top destination for downsizers and retirees. Want to know more? Here are some of our other articles about this great Canadian city.
- Relocating To Peterborough: A Case Study
- Everything You Need to Know About Retiring in Peterborough
- Are We On The Cusp Of A Buyer’s Market?
Does living in rural Peterborough sound like a dream to you? Check out this video from someone who made the move from Toronto to Peterborough right here:
