In 2022, the oldest millennials will have reached their forties. They aren’t the bright-eyed generation you might picture in your head. Some have just started a family; others are saving to buy their first homes. This milestone throws up a lot of new responsibilities.
In this article, we explore what millennials are looking for in a home and reveal the best areas to relocate to in Canada, which is one of the most popular places to live in the world.
What are millennials looking for in a home?
Now millennials are on the house hunt, some traditional factors still ring true. They want to be near reliable transport connections for work, around a good education system for their children, and reside in a safe neighborhood to keep their family secure.
Modern millennials are also environmentally conscious, which is a value that extends to their relocation habits. This generation tends to be more focused on their home’s impact on the environment and the amount of energy they use. To that end, millennials expect the same from their location and to live amongst like-minded people with similar sentiments.
However, rapidly rising house prices in locations like Toronto (which tops the world house price index) are forcing many younger millennials onto the rental market.
While this can be a cheaper way of relocating to a prime location, renting certainly has its challenges. After all, a landlord owns the property (not you) and you’re bound to the rules and obligations stated in the agreement. It comes as little surprise to find tenant insurance is a popular service, providing extra security around people’s tenancies.
Tenant insurance (like this example), though not mandatory, covers personal liability alongside theft and damage to belongings. Taking out this type of coverage is a security blanket for renting millennials. Why? Because it ensures financial security if something goes wrong — a vital service, particularly when there are children and other responsibilities to worry about.
Where are the most popular areas to relocate to in Canada?
Millennials have a clear idea of what they want from a home, so which areas of Canada best deliver these demands? National real estate experts Point2 conducted a recent survey ranking the top millennial hotspots. In this section, we explore the top three locations from this study — Québec, Ottawa, and Kingston — to reveal why these areas appear so popular among millennial groups looking to relocate. Naturally, discount moving boxes and supplies are essential!
Among millennials, Québec City is the most popular area to live in Canada. The capital of la belle province has an incomparable quality of life for those who live there. It’s a unique and safe place to call home, with one of the lowest crime rates of all major Canadian cities.
Divided into six boroughs, each area of Québec City has a definitive style, oozing vibrant culture. The city, however, is broadly French-speaking — so if you don’t know the language, it’s time to start learning.
Ottawa is the home of the Canadian government, but it’s also the food capital of this incredible country. If you’re a true foodie millennial, then this is the place for you. Why? Because it’s numerous embassies and multicultural communities mean you can sample the best food from all over the world.
While Ottawa is typically a very quiet place to live (and very safe), if a part appeals to you then the Canada Day celebrations are something to behold.
Kingston is the perfect place to live for someone who doesn’t like big cities but also does not want to relocate to the sleepy suburbs. It has a fantastic range of restaurants, a bustling art scene, and a friendly atmosphere.
Love the water? Then you’ll love Kingston too. Just a stone’s throw away from Lake Ontario, this city is home to some amazing sailing. It’s said to be an ideal spot for a modern family looking for safety, security, and a whole heap of fun.
Canada is the place to be. Millennials have a clear idea of what they want from a home, whether they’re renting or buying. Québec City, Ottawa, and Kingston provide a safe yet vibrant area for new families and first-time buyers — these are the best areas for relocation in Canada. And if you’re relocating a long distance, we can help.
We hope you found this blog post What’s The Best Area In Canada For Millennials To Relocate To In 2022? useful. Be sure to check out our post 5 Tips To Adjust In a New Country for more great tips!