Looking to move to GTA or Scarborough

Swatinanda

Member

Member since 10 December 2018

Swatinanda

10 December 2018 04:37:20

Swatinanda

10 December 2018 04:37:20

Hi all,
We are family of 4. 2 children will go to day care. And we have one person earning. After tax salary will be 4000. We were planning to buy a house. Or rent for first year. We are looking to move to GTA area or Scarborough. We need to know which will be better place to live. We have a cable and will be using go transit.

GuestPoster1050

10 December 2018 16:22:54

GuestPoster1050

10 December 2018 16:22:54

You should be aware Scarborough is part of the Greater Toronto Area (GTA).

With after-tax income of $4,000 you will be able to rent but buying a house will prove impossible unless you already have $300,000 or more savings.

Here's a hypothetical monthly budget for an average family of four in Scarborough:

Housing & Utilities - $1,900 per month
Food & Supplies - $850 per month
Transportation - $300 per month
Entertainment & Leisure - $300 per month
Clothing - $150 per month
Savings - $200 per month
Other - $200 per month

Keep in mind these are very rough estimates and may or may not reflect your own family situation.