New comparison looks at living in the city vs the suburbs
Posted February 1, 2016 4:30 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) There are now some hard numbers to add to the age-old debate over whether it’s better to live in the city or the suburbs. A new comparison from MoneySense Magazine strives to help buyers decide what’s best for them.
It considers factors beyond just the price tag like mortgage payments, property taxes, commuting time and lifestyle. This comparison adds up the true cost depending on how far away from the city you live.
The piece compares the cost of living in six concentric rings around major cities. For example, when you look at the cost of living, the comparison finds it’s actually cheaper to live 40 minutes out of downtown Vancouver than it is to live 50 minutes away from your downtown job.
Yes, you can get a bigger home for less money the farther away you get from downtown Vancouver. MoneySense Senior Editor Romana King says they have also put hard numbers to what we already suspected. “If you live in the 60 minute band, so you’re 60 minutes away. Let’s say it’s near Langley, Maple Ridge or Mission, quite a distance away, you’re going to spend 43 days travelling to and from work in Vancouver each year.”
King says they put this together so people weighing their options have real data to use.
