FINDING A PLACE FOR ECHO BOOMERS

Up until graduating from post secondary education, finding a place to live has always been the same – a good spot that’s on the bus route, preferably close to amenities such as grocery and nightlife, and a short walking/bus trip from campus. But now that school is over and you are looking for work, has your preferred location of residence changed?

Everybody values different factors differently when they decide where to live, and it depends on who you are. By who you are I mean your demographics – your age, your relationship status, your income, where you work, how often you work, and what you like to do when you’re not working.

To quote a recent post by The Atlantic Cities:

“Do neighborhoods work like habitat for different kinds of households? City populations have rebounded in the past two decades as people who like city habitats have grown in numbers and in their share of population.

Mostly these are Millenials – adults roughly 20 to 34-years-old, also known as Generation Y or the Echo Boom – who have delayed childbearing, marriage, and even household formation because of a combination of changing culture and economic necessity. Urban living makes sense for these young people: compared with suburbs, cities often provide young adults more opportunities to switch jobs, meet friends and potential spouses, enjoy entertainment outside their homes, live without a car, and travel to other parts of the country and world.”

Being part of this generation, I can completely agree. I recently graduated from University and was lucky enough to find a job right out of school. When deciding where to live, I realized my values and needs shifted to include a variety of new prerequisites for where I want to live. The main shift I felt was temporary versus long-term locations – I wanted to feel more stable and at home, and less… “well, I’m only going to live here for a year anyway.” Here is how I figured it out.

Step 1: Identify location of work

Step 2: Identify needs and values (in order of importance)

Step 3: Identify ideal zones to optimize needs and values

Step 4: Select a unit within one of these zones, compromising needs and values with the lowest importance if necessary

This amazing restaurant is at the foot of my building, and has a great view of the lake.

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As you can see, if you value any of these needs differently then your choice may have been very different than mine. A 28 year old friend of mine once told me “you have a car, why do you care about how far away you are from this and that?” – some people depend on their cars and are okay with that. Interestingly enough, I’ve noticed that most of the 20-somethings people who work in my office live somewhere between Parklawn and Yonge, whereas 30-somethings live a little further out, and 40- to 50-somethings live as far as Georgetown.

At the end of the day, I made a small compromise with the 10 minute walking distance to amenities need, but all the other factors outweigh it, and the fact that many amenities are within a 10 minute streetcar or bus ride makes up for it. By living near Lakeshore Boulevard West and Parklawn, I have the best of 3 worlds: easy access to work, play, and rest.

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