Mauro Quattrochi is facing a decision shared by many in Toronto: commit to a “wallet-bursting life in the city, or a car-bound, almost-as-expensive life outside it?”
Quattrochi, an engineer living in downtown Toronto, says the mortgage cost on his condominium townhouse will skyrocket upon renewal next year.He wants to start a family with his partner, “but with the costs of food, childcare, and general daily living,” the path forward for the couple isn’t so clear.
Brad Burgess, born and raised in Toronto, gave up city living with his wife late last year and bought a home in the Maritimes. “To rent, we would be looking at probably north of $3,000 and I was not willing to pay that amount. It’s outrageous,” Burgess said in an interview. “And then to buy a house, I don't think we could have swung anything actually in the city – maybe in the GTA, but we’d be house-poorSo, Burgess returned with his wife to her childhood province of New Brunswick, purchasing a home in Moncton that was mortgage-free.
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