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<\/a><\/p>\nAs millennials and Gen Zers become homeowners, they may wonder what to look for in a neighbourhood and a city. The things that make you fall in love with a street, a neighbourhood or a city are also known as \u201cliveability factors\u201d: the aspects of a home and its surroundings that play a role in the decisions people make about their living situations. <\/span><\/p>\n \u201cLiveability factors are the things that turn a house into a home,\u201d says Christopher Alexander, Executive Vice President, RE\/MAX of Ontario-Atlantic Canada. \u201cHomebuyers might be drawn in by a good price, but what they\u2019re really buying into is a place, a community and a way of life.\u201d<\/p>\n So which factors impact the homebuying decision most of all? <\/span>RE\/MAX<\/span><\/a> recently put together a <\/span>liveability report<\/span><\/a> that answers that exact question. Here are the five most important factors that buyers consider when making the choice to purchase a home.<\/span><\/p>\n The way to a homebuyer\u2019s heart is apparently through their wallet as well as their stomach. The <\/span>majority of Canadians<\/span><\/a> (62 percent) said they would recommend their neighbourhood based on its proximity to restaurants and retail stores. Homebuyers are looking for neighbourhoods that provide them with options for a night out or a shopping spree \u2014 something anyone looking to sell a home should consider.<\/span><\/p>\n Toronto, Victoria and Saskatoon (among other cities) ranked highly for their dining and shopping choices. Ossington in Toronto and Riversdale in Saskatoon are rated among the most-loved shopping and dining hubs in Canada, offering bars, vintage boutiques, record stores and coffee shops.<\/p>\n While many baby boomers and Gen Xers rely on vehicles to get around, millennials and Gen Z homebuyers increasingly rely on public transit. For this reason, access to buses and trains is an important factor that many potential buyers consider.<\/p>\n Thirty-six percent of homeowners in Canada cite <\/span>proximity to transit<\/span><\/a> as a reason to recommend their neighbourhood, especially if they\u2019re outside of the downtown core. Vancouver and Winnipeg were singled out as having exceptional public transit, nodding to Vancouver\u2019s swath of bus and SkyTrain systems as well as Winnipeg\u2019s extensive inter-urban lines <\/span><\/p>\n A majority of Canadians believe in the importance of spending time in the great outdoors, something that\u2019s reflected in the RE\/MAX report \u2014 40 percent of homeowners would recommend their neighbourhood based on access to green spaces and parks. Victoria, where <\/span>97 percent of the population<\/span><\/a> has a green space within walking distance, and Ottawa, which ranked first in amount of green space in the <\/span>2011 Canada Green City Index<\/span><\/a>, are among the greenest cities in the country.<\/span><\/p>\n Many choose to buy a home when starting a family, making access to public and private schools crucial. While <\/span>18 percent of owners<\/span><\/a> noted their satisfaction with the schools available in their neighbourhood, young families will prioritize living in a neighbourhood that provides access to education. Halifax and Ottawa were rated highly for their selection of preferred schools. Barrhaven and Elmvale Acres in Ottawa\u00a0<\/span>and Westmount in Halifax are cozy communities close to several schools, meaning many young families call them home.<\/span><\/p>\n Maybe a little obvious, but potential homebuyers prefer to take the home ownership plunge in more affordable cities. Cities like Vancouver and Toronto are currently experiencing affordability issues, while other cities across Canada have, on average, <\/span>improved over the past year<\/span><\/a>. This is especially true for cities like Saskatoon and Halifax, which remain <\/span>more affordable options<\/span><\/a> for homeowners, especially those on a single income.<\/span>Eat, shop and be merry<\/b><\/h3>\n
<\/a><\/p>\nHop on the magic city bus<\/b><\/h3>\n
Stop and smell the roses<\/h3>\n
<\/a><\/p>\nGet schooled<\/b><\/h3>\n
Snag a deal<\/b><\/h3>\n
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\n<\/span>\u201cAffordability and availability are persistent problems, so many buyers jump at the chance to get a deal on a home,\u201d says Alexander. But over time, Canadians see the value in prioritizing one key factor: neighbourhood. \u201cPrice might be the first thing that comes to mind, but it\u2019s quickly followed by amenities, schools, green space and culture. These are the things that are really worth investing in.\u201d<\/span><\/p>\n