It’s no secret that millennials are the fastest-growing population in Canada. And while many currently live in major cities across the country, many young British Columbians are opting to move away in favour of more affordable, amenity-focused towns. Honestly, we can’t blame ’em. With the cost of living rising and the price of real estate always fluctuating, it can be hard for millennials to enter the market in the Greater Vancouver area.
So, where do prospective homeowners go to “tie the knot?” Let’s get into it.
Communities like North Van, Surrey, and Port Moody continue to attract more and more residents looking for more space at a better price point. But what makes neighbourhoods truly “millennial-friendly?” Hint: It’s not square footage.
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Designated spaces
“When buying new, millennials want a building that supports their lifestyle goals including designated areas for work from home, fitness and social. We design these into our buildings, understanding how important lifestyle is when buying a new home,” says Geoff Duyker of Mosaic Homes. “We’ve noticed that millennials are drawn to features like co-working spaces, large outdoor areas, entertaining spots, wellness and gym spaces, pet-friendly amenities, and of course, the perfect location.”
Access to nature
When it comes to the great outdoors, millennial homeowners are especially keen on having options. Think shared gardens, backyard spaces, and central lawns for al fresco dining. Of course, choosing the best location for your individual needs and preferred outdoor activities definitely helps!
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Location
According to Mosaic Homes, these are the most ‘millennial-friendly’ neighbourhoods around Vancouver that tick the most boxes:
- North Vancouver – access to three ski mountains, hiking trails, and local dining options
- Port Moody – near the ocean, access to breweries, restaurants, walking trails, and a large dog park
- North Coquitlam – access to shopping centres, parks, strong transit system
- South Surrey – located near the water, access to local dining, elementary schools, and a new aquatic centre
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Sense of community
Let’s be real, millennials (and most prospective homeowners) aren’t just looking for a place to lay their heads at night. “They want to visit a neighbourhood coffee shop, walk to get their groceries, eat at a local restaurant, and support local businesses while enjoying where they live.” Living in a space that encourages these neighbourhood connections is key, according to Mosaic Homes.
And that’s a wrap on ‘millennial-friendly’ neighbourhoods, Vancouver! We hope this helps get the creative juices flowing when it comes to potentially entering the market. Best of luck, and happy house hunting!
