Have you been thinking about moving out of Toronto to a more suburbia area in the GTA? Perhaps the thought of a lower mortgage, larger square footage and a backyard for your family to enjoy is appealing to you.
Before you make such a move, there are some things you may want to consider. We will call this: Counting the cost.
The primary appeal to consider is that it costs “less money”. As our video highlights, often once we calculate the true expense of this decision, there may not be that big of a savings. It’s no surprise that gas expenses will increase with a longer commute and that if you have a leased vehicle you’re at a higher risk of exceeding your annual kilometre allowance, resulting in penalty fees.
By moving to the suburbs, you may see it as saving money, but in reality your monthly expenses could be higher.
The second appeal might involve having more personal and family time, but there is a cost to calculate with this as well. While you may have a big back yard to have family BBQ’s – likely more of your day will be spent in commuting.
Living in the suburbs may be the right decision for you! But remember: Count the Financial, Personal and Family cost.
We are glad to help you do that!