Perspectives: City Vs. Suburbs

As priorities and the market change, are condos a real alternative for families?In the not too distant past, the life path for even the most dedicated downtown dwellers was the same. Go to school. Meet a partner. Start a family and leave your apartment or condo lifestyle behind to buy a house.As recently as a decade ago, this life path could be affordably completed without leaving the confines of Toronto. Of course, many families did prefer to relocate to the surrounding suburbs with their larger yards, quieter neighbourhoods and less hectic traffic. But if you loved the city, you could find a nice house with a modest yard and enjoy all your favourite urban amenities.

However, with the precipitous rise in single-family home prices, a home in the city is a near impossible dream for many middleclass homebuyers.

So, young families are now faced with a choice: move to the suburbs or try raising a family in a condo.

Of course there are many wonderful suburbs around the city, but some people just love the city too much to leave it. That’s probably why 10,500 more families lived in Toronto condos in 2016 compared to 2011. Still, even as more families are clearly embracing the condo trend there does seem to be a certain stigma to condo living a la family.Condominium or apartment living is actually the norm for many families in the vast majority of world-class cities around the globe. When I was living in Barcelona, it was common for even more affluent families to prefer a city condominium lifestyle to a home on the outskirts of town. This is also true in places like Manhattan, Paris, Tokyo and London, and it has been for generations. Still, for some reason the trend has its doubters here in Toronto.“Where are your kids going to play without a yard?”This is perhaps the most common refrain we hear from those who doubt family condo living. However, condominium developers are actually required to provide a minimum of four square metres of amenity space for every dwelling in the building.The result is that many larger condominiums have the equivalent of a private medium-sized city park on their rooftop terraces. These can often include great kid-friendly amenities, too. Many rooftop terraces have lawns, and some even have mini-golf, outdoor pools, or other outdoor games. That’s not even mentioning the indoor amenities that families can enjoy. These include billiards rooms, basketball courts, swimming pools and specialized “kid zones.”In fact, if urban families choose wisely, they can find a spacious condominium that offers amenities that suburban kids could only dream about. Families in the city can access some of the country’s best cultural amenities right outside their door — the ROM, AGO, live theatre and music, cultural events, restaurants, and so much more.With home prices showing no chance of any significant correction, condo living is — and will continue to become — the new normal for families in the city.Luckily, thanks to the amazing amenities and beautiful suites those families can enjoy, the options for finding a family condo lifestyle that works has never been easier.Lisa Chester is vice president of sales and marketing at International Home Marketing Group, which sells and markets both houses and condominiums. IHMG.ca