Millennials are the engine of the real estate market in Canada, according to a new study by Genworth Canada. The study found that over the next two years, 30 per cent of millennials plan on making their first home purchase. With ownership, comes the desire for community and many young homebuyers are looking to put down roots in the right place.
Small town feel in the big city
Many young homebuyers today think beyond the boundaries of their own front yard and the community that surrounds it. In Saskatoon, the Kensington and Parkridge Extension communities want to be the place where young homebuyers can live, work and play.
“If you’re looking for a small town feel with the amenities of a big city, then look no further,” says Frank Long, Director of Saskatoon Land. Long says that more and more people are leaving their small towns to move to Saskatoon for more opportunities. They’re also moving out from their parent’s basements, their university dorm rooms, and many are moving to Canada. “We’ve seen a lot of international migration with people choosing Saskatoon as their home and it’s driving a lot of our population growth,” Long adds.
Both developments have convenient access to shopping, recreation and scenic walking trails throughout to create an inclusive environment for residents.
No car? No problem. Kensington boasts an extensive network of pedestrian paths, bicycle routes and linked parks, so residents can stay active and get to shopping and recreational facilities in just five to 10 minutes. In the heart of this picturesque community is also a village square perfect for gathering with friends and family at any time of the year.
The Parkridge Extension builds on the already popular Saskatoon neighborhood by adding 174 new single family lots and adds three acres of linear park space to connect residents to an existing park. Residents and cyclists will be minutes away from parks, shopping and other amenities, like the Shaw Centre or Blairmore Shopping Centre.
Both communities are prioritizing sustainable practices, something that has become more and more important to young homebuyers. “Reducing your environmental footprint is becoming more of a priority for a first time home buyer,” says Long. The Kensington development has more than half of the single family homes designed to take advantage of solar energy use. Saskatoon Land is also providing incentives to builders and buyers purchasing lots to continue their commitment to building environmentally sustainable neighborhoods.
This includes a $500 rebate to promote energy efficient homes that are certified through ENERGY STAR, R200 or Energuide Rating System. Homeowners will also be given a coupon to get one composter per lot to promote sustainable organic waste and one rain collection barrel to reduce potable water use.
“Once you move into your new home, if you want to acquire these bins, you can get a coupon and go to a local retailer and pick them up on our dime,” says Long.
A home for every family
Both communities offer a wide range of housing options including condominiums, townhouses and some of the most affordable new single family homes in the city. The variety of housing options also means that young buyers won’t have to worry about uprooting their lives if they start growing their families and their housing needs change.
“If you’re a young family looking for an entry level single family home or moving to the city for the first time, both neighborhoods are inclusive communities that will appeal to all new homebuyers,” says Long.