It really is a personal decision that you have to make. If you have the ability to work from home and only have to commute 1 or 2 days a week into the GTA then it would probably make a lot of sense to live outside of the GTA.
And you also have to consider others in your family - if you have a spouse - consider their opinion too.
Perhaps a great way is to to take an airbnb for a month outside the GTA and try doing the drive for a month and see if you are good with it or if it drives you crazy and you realize that you really want to live closer to work.
Either way, as long as you are owning the Real Estate, it will be a good decision.
It really is a personal decision that you have to make. If you have the ability to work from home and only have to commute 1 or 2 days a week into the GTA then it would probably make a lot of sense to live outside of the GTA.
And you also have to consider others in your family - if you have a spouse - consider their opinion too.
Perhaps a great way is to to take an airbnb for a month outside the GTA and try doing the drive for a month and see if you are good with it or if it drives you crazy and you realize that you really want to live closer to work.
Either way, as long as you are owning the Real Estate, it will be a good decision.
I agree with Roy in that it is a personal decision. If you are the one living there, you will have to do the commute every day. Down the road will this be a rental property? If so, run the numbers to see if it makes sense finanically.
@Cameron Chambers There are places between North York and Brampton that you can buy that may meet your needs. GTA won't cashflow unless your down payment is large and you will have to deal with more traffic. You may be able to use the 5% 1st homeowner and RRSP and then house hack it while still renting in Brampton. Good luck.