Quote:
Originally Posted by Flames in 07
Absolutely wrong.
It doesn't cost 50 or 100k more to live downtown. You get it back when you sell the house and then some. Only cost is incremental interest.
In fact inner city homes will appreciate faster, I could never afford a home in the burbs.
When it comes to urban planning I can't imagine a more backwards thinking city than Calgary in the past decade.
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Good points. Another factor the poster is missing that in the suburbs you usually need a car at minimum or 2 cars if you have a family as the unsustainability and weak transit in the suburbs literally make a car a must. Downtown you can usually get away with 1 car or even no car especially if you work downtown. According to the CAA the average car costs $7800 per year to run (mostly amortization plus insurance, gas, repairs etc). That difference more than covers the extra costs of the "downtown premium" for something that will at least keep pace with inflation versus a vehicle that depreciates to basically nothing over it's life time.