Welcome to your new neighbourhood

When you buy a new home, you’re not just buying the physical building; you’re buying into a neighbourhood. That’s why it’s important when house hunting to immerse yourself and spend time in the areas you’re considering moving to.

Ask yourself, what would a typical workday look like here? And how about a weekend? If you have family or friends who live in your desired neighbourhood, pick their brains. What do they like about living here? What (if any) are some of the challenges? With those questions in mind, here’s what you’ll want to consider when searching for the perfect neighbourhood to call home. 

Living close to work

When you live near your office, you can choose how you commute. You can walk or bike. Or, on days when you feel like giving your legs a rest, you can take a quick transit ride or drive in. Travelling to work can eat into your day, and 1.5 million Canadians spend at least 60 minutes a day commuting to work.1 If you live close by, you won’t have to rush in the morning, and you’ll have more time in the evenings. However, if your work is transitioning to a more flexible work structure post-COVID, and you don’t have to be in the office five days a week, you can probably be a little further out.

Neighbourhood characteristics

Every neighbourhood is unique, and you’re going to want to find the one that fits your lifestyle. Do some research and get to know what your desired areas are all about. Are there shops and restaurants nearby? Would you be moving to a quieter, sleepier neighbourhood (often good for younger families)? Or are you looking for something with a vibrant nightlife?

Learn about the schools

If you have a young family or are starting one, the most important thing about where you live will likely be the schools. Learn about all the options available to your kids. This means preschool, grade school and high school. Parents often only think about the school their child is entering and don’t give enough thought to what comes next in their education.

Consult the parents who have children attending the schools that you’re interested in about their children’s learning experiences.2 Even if you don’t have kids, schools can have a significant impact on a home’s resale value. Properties in good school districts tend to hold or increase in value, even during market slowdowns.3

Parks and green space

The home you buy might not have the largest yard, or you might have decided that condo living is what’s right for you. Even with a nice backyard, it’s tough to beat living close to a public park or other green spaces.

These areas provide countless opportunities for getting together with family and friends, fitness and sports, community events and so much more. In fact, living close to a park or nature can actually improve your overall happiness.4 And imagine just how happy your dog (if you have one) will be!

Best of luck in your search

We want to wish you all the best in your search for your new home. We know you’ll find the home and neighbourhood that’s right for you.

How Engineers Canada-sponsored Term Life Insurance can help

Now that you’ve thought a bit more about where you want to live, it’s a good idea to start thinking about important coverage. Here’s an option that’s more affordable than mortgage insurance. Engineers Canada-sponsored Term Life Insurance is designed for engineering professionals and their families and can help provide financial protection for your biggest asset — your new home.

This item was brought to you by Manulife. As a member of the engineering and geoscientist community, you have exclusive access to affordable insurance plans sponsored by Engineers Canada and established by Manulife.