Living in “The Six” is the place to live. It’s the capital of Ontario and it is where everyone wants to be. It is a dynamic metropolis with a core soaring skyscrapers and has the iconic CN Tower that many want to explore.
But is it really the place to live? Millennials would argue that and say no. As much as millennials would want to say they live in Toronto, they can’t because it is such an expensive place to live.
Millennials are one of the largest generations in history and are about to move into its prime time of spending years. But it’s a hard time for them. About 70 per cent of millennials are willing to delay homeownership until they can afford what they really need and want.
Cities close to Toronto are getting more millennial growth because they offer less expensive living places and there are many options for transit to get them where they need to be. With this being said, other cities are taking advantage of this.
Young professionals in the GTA are making this decision to live outside of Toronto into affordable places to live. Hamilton’s affordability, compared to Toronto, is the strongest lure for younger people priced out of the GTA.
Millennials are breaking it off with Toronto and looking to buy a place with more space and breathing room.
Millennials can still work downtown Toronto and live in another city, the GO Train service makes it possible to still commute in a reasonable timeframe every day. Living near the GO Station is a much more affordable option in Hamilton. This allows millennials to have a good job in a big city but can then go home to a nice quiet spacious environment.
Living in Hamilton or other cities is a great way to get out there and discover the local community. If someone wanted to start a new business it is much easier to do so in a city like Hamilton, word spreads around faster in a smaller city and its a great way to build your network. This could then help attract other people to Hamilton to check out new businesses that crop up.
Toronto’s loss could be Hamilton’s gain!
But is it really the place to live? Millennials would argue that and say no. As much as millennials would want to say they live in Toronto, they can’t because it is such an expensive place to live.
Millennials are one of the largest generations in history and are about to move into its prime time of spending years. But it’s a hard time for them. About 70 per cent of millennials are willing to delay homeownership until they can afford what they really need and want.
Cities close to Toronto are getting more millennial growth because they offer less expensive living places and there are many options for transit to get them where they need to be. With this being said, other cities are taking advantage of this.
Young professionals in the GTA are making this decision to live outside of Toronto into affordable places to live. Hamilton’s affordability, compared to Toronto, is the strongest lure for younger people priced out of the GTA.
Millennials are breaking it off with Toronto and looking to buy a place with more space and breathing room.
Millennials can still work downtown Toronto and live in another city, the GO Train service makes it possible to still commute in a reasonable timeframe every day. Living near the GO Station is a much more affordable option in Hamilton. This allows millennials to have a good job in a big city but can then go home to a nice quiet spacious environment.
Living in Hamilton or other cities is a great way to get out there and discover the local community. If someone wanted to start a new business it is much easier to do so in a city like Hamilton, word spreads around faster in a smaller city and its a great way to build your network. This could then help attract other people to Hamilton to check out new businesses that crop up.
Toronto’s loss could be Hamilton’s gain!
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