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You live on me you're born and bred,

To find it first go one ahead,

But in me and you're paper flat,

You've been around me, fancy that

You left and now you're back but since you did

Came a new kid.

'I think that's a good life philosophy.'
'What is?'
'To find it first go one ahead.'
'Lucky it's not in me and you're paper flat.'

Riddle Answer A Block

Riddle Explanation
you live on me you're born and bred - a housing block.

to find it first go one ahead - in directions, especially in the US where cities follow a more grid-like plan, go straight ahead one block.

but in me and you're paper flat - a block of flats.

you've been around me, fancy that - to have been around the block, or romantically experienced.

you left and now you're back but since you did came a new kid - the new kid on the block.