I read this interesting article today. Where can you and your family afford to live?
The numbers have been crunched so you can decide.
Each year, home buyers across North America struggle with a familiar choice: They can pay more to live in a smaller urban property, within walking distance to schools, shops and work; or pay less for a larger suburban home with a big backyard and ample parking, but have to hop in a car for just about everything they need. At first blush, it appears urban and suburban residents may simply have fundamentally different values and interests, but that may not be the case. For many Canadians, the decision between city and suburb boils down to how strongly you weight three important factors—your money, your time and your overall lifestyle. No two families prioritize these in exactly the same way. Moreover, even the urban-suburban truths we hold to be self-evident—as in, it’s always cheaper to live in the suburbs—don’t tell the entire tale.