The prices of homes in many large cities is increasing rapidly every year. That means that many first-time home buyers are priced out of buying property in the city. Or if they can afford to buy a home in the city they can’t afford to buy a home that is large enough for a family. In some cities it’s almost impossible to find a home that will accommodate a growing family.
So instead they are looking to the suburbs for houses that they can afford. There’s no doubt that buying a home in the suburbs has a lot of benefits for first time buyers. If people can past the challenges of living in the suburbs they can find benefits like:
There is a huge construction boom going on in the suburbs around the country. New single family homes as well as new townhouses and condos are being built at a very rapid rate. Home buyers looking for a new energy efficient home are turning to the suburbs where they can find get brand new homes with lots of extra features for an affordable price.
Because space is at such a premium in larger cities often the only available real estate is very small. Unless buyers have a huge budget they can’t afford to buy more than a tiny apartment or condo in a major city. But moving out to the suburbs means getting a larger home at a better price. Often new construction homes are 2000 square feet or larger. For families on a budget buying a home in the suburbs is the best possible choice.
Homes in the city are often historical and have lots of charm. But charm can’t cover the inconveniences of older homes. Windows that leak, poor plumbing and other problems are almost always present in homes in major cities. But homes in the suburbs have new energy efficient windows, upgraded bathrooms and kitchens, and extra features like garages and outdoor space. Even without a huge budget home buyers can afford those extra luxuries when they buy a home in the suburbs.
Shopping and Amenities
As more and more first time buyers flock to the suburbs to buy starter homes the options for dining and shopping are increasing. Stores are noticing that people are moving out to the suburbs and they are filling neighborhoods and shopping plazas with trendy boutiques, great grocery stores, and other specialized shopping options. Many midsize cities are also adding more public transit for homebuyers who are moving out of the city but need an efficient way to commute back to the city.Posted by Gurpreet Ghatehora on