The area you live in is one of the things we consider when determining your best insurance products and pricing. And while saving on insurance probably isn’t going to drive your decision when it comes to choosing a new neighbourhood, there are other important factors to consider when you’re looking for a new place to call home.
A place to call home. What to look for when choosing a new neighbourhood.
Affordability. Here are the average costs of groceries, utilities, gasoline, taxes etc. in Canada. One month basic utilities $139.58. Groceries for one month $60.35. One month rent $1,148.58.
Schools. Homes in good school districts usually hold on to their value better. There are approximately 15,500 schools in Canada: 10,100 elementary, 3,400 secondary and 2,000 mixed elementary and secondary.
Walk Score Measures walkability to stores, restaurants, parks, schools, daycares, etc. A score below 50 means you’ll likely need a car or transit to get around. According to Walk Score, Vancouver is Canada’s most walkable city. Transit Score Measures how well an area is served by public transit. If you rely on transit, look for a score above 50. 12%25 of Canadians use public transit to get to work. Bike Score Measures how bike-friendly the area is. A score of 50 and above is ideal for avid bikers. 6%25 of Victoria, B.C. commuters bike to work – the highest proportion of cycling commuters in Canada.
Safety: If your concerned about safety and security, check your city’s polices department websites for neighbourhood crime maps. The Crime Severity Index (CSI) rates Regina Saskatchewan as the least safe with a CSI rating of 110 whereas Barrie Ontario is the most safe with a CSI rating of 43.
Parking. No garage? More than one vehicle? Make sure you’ve got easy access to parking. The most expensive place to park in Canada? Calgary.
Potential for growth. With the cost of real estate on the rise, choosing an area with potential for growth can have a large impact on the return your property can bring in the future. Canadian real estate projections for 2026 Vancouver $+1.1M Calgary $+1.1M Edmonton $+90K Toronto $+1.2M Ottawa $+60K Montreal $+30K
Whether you own or rent, there’s no place like home – and there’s no insurance like Sonnet.