Personal Finance

GTA Household Income to Live Modestly

  • Last Updated:
  • Dec 8th, 2018 4:48 pm
Penalty Box
User avatar
Apr 21, 2004
51724 posts
unknownone wrote: Why not seize the opportunity to leave GTA and put yourself in a better position? Get a job somewhere else, buy a house somewhere else, and be better off? One choice will save yourself a lot of hardships. For the price of the 'modest life' in GTA you could live extremely well almost anywhere else.

Seems to me like a lot of people live in the GTA just because 'it's the place to be' and that creates a perpetual treadmill where everyone wants to be there and everyone pays dearly for the privilege. Make a stand and move to Ottawa or London or something instead. I did one better and moved to St. Thomas. Never been to St. Thomas? Exactly. My house in St. Thomas would be worth millions in the GTA and I wouldn't be able to afford it. Sure I can't tell the world that I live in Toronto, and I don't get to tell everyone that my house is worth millions, but it's a pretty good life in St. Thomas.
We have a friend (with family) who moved to St. Thomas a few years ago as GTA was getting too pricey. They've moved quite a bit and had been in the GTA for sometime, then to Blue Mountain, back to GTA but decided to start their own business in St. Thomas.

I lived in London, Ontario for two years and it was a positive experience, except I couldn't land a job, haha. I know TD and insurance cos. have some decent presence there.
Jr. Member
Jul 28, 2012
176 posts
the_norm wrote: Chiming in quickly here. Household income = $160,000. House in the burbs of GTA. Mortgage, two kids in daycare, taxes/utilities/phone/internet, insurance for cars and house, groceries. For my situation, it doesn't leave much room for savings on a monthly basis. No vacations to speak of, but even then it's hard to vacation with the age of my kids.

Admittedly, the mortgage on my house is a huge drain. However we are comfortable with the decision that we made due to this being our forever home. Things will be a little less tight once the first kid goes to school in Sept, and the next kid following in 2020. Will probably use the daycare money not spent to paying down the mortgage faster, increase savings, and extra curricular activities for the kids.
Would you be open to sharing what amount of a mortgage balance you have to put this into a little more context?