Living near YYZ/YTZ

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shawnthesheep
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Living near YYZ/YTZ

Post by shawnthesheep » Wed Jul 24, 2019 5:58 pm

I have a general question about how new FOs afford to live near or around the Toronto area.

For example, if Encore's take-home pay is 3000$ a month how can one live a decent lifestyle when renting a 1 bedroom apartment is 1500$-2000$?
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ZBBYLW
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Re: Living near YYZ/YTZ

Post by ZBBYLW » Wed Jul 24, 2019 6:11 pm

AC is not much better. FOs I've flown with have been getting by via various means.

Some have partners that work.
Some budgeted for this at their old job.
Many older FOs are from the PML so they got their top up.
Some live with parents.
Some have roommates and are extremely frugal.
One has confessed to using a LOC (ouch)
Not too many live downtown.
Most living alone are in a basement apartment or a small apartment.
Many commute, some from the east coast were you can live much better for the money.
At Rouge some do a ton of OT.

Don't owe money on your credit card, own an affordable beater outright or if transit works use that and don't own a car.

As a single young dude or dudette its not impossible you just have to remain engaged with your finances and be smart about decisions. That might mean not renting that trendy 1 bedroom apartment in the trendy neighborhood.
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shawnthesheep
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Re: Living near YYZ/YTZ

Post by shawnthesheep » Wed Jul 24, 2019 6:16 pm

So it is basically not possible to own a house until you are in your 30s if you base out of yyz/ytz (porter)?
ZBBYLW wrote:
Wed Jul 24, 2019 6:11 pm
AC is not much better. FOs I've flown with have been getting by via various means.

Some have partners that work.
Some budgeted for this at their old job.
Many older FOs are from the PML so they got their top up.
Some live with parents.
Some have roommates and are extremely frugal.
One has confessed to using a LOC (ouch)
Not too many live downtown.
Most living alone are in a basement apartment or a small apartment.
Many commute, some from the east coast were you can live much better for the money.
At Rouge some do a ton of OT.

Don't owe money on your credit card, own an affordable beater outright or if transit works use that and don't own a car.

As a single young dude or dudette its not impossible you just have to remain engaged with your finances and be smart about decisions. That might mean not renting that trendy 1 bedroom apartment in the trendy neighborhood.
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ZBBYLW
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Re: Living near YYZ/YTZ

Post by ZBBYLW » Wed Jul 24, 2019 7:58 pm

shawnthesheep wrote:
Wed Jul 24, 2019 6:16 pm
So it is basically not possible to own a house until you are in your 30s if you base out of yyz/ytz (porter)?
ZBBYLW wrote:
Wed Jul 24, 2019 6:11 pm
AC is not much better. FOs I've flown with have been getting by via various means.

Some have partners that work.
Some budgeted for this at their old job.
Many older FOs are from the PML so they got their top up.
Some live with parents.
Some have roommates and are extremely frugal.
One has confessed to using a LOC (ouch)
Not too many live downtown.
Most living alone are in a basement apartment or a small apartment.
Many commute, some from the east coast were you can live much better for the money.
At Rouge some do a ton of OT.

Don't owe money on your credit card, own an affordable beater outright or if transit works use that and don't own a car.

As a single young dude or dudette its not impossible you just have to remain engaged with your finances and be smart about decisions. That might mean not renting that trendy 1 bedroom apartment in the trendy neighborhood.
It depends where you want to live I suppose. If by house you mean a detached single family dewling close to YTZ... Shy of having cash in hand it's going to be pretty challenging to qualify for a mortgage even as a skipper. If you are okay living within a 90 minute drive (YTZ is one of the worst example for hosting affordability) you could probably find something. If you're okay with a town house or condo there are pockets within 60 minutes. Won't be posh but you'd find something. Within 60 mins of YYZ you can find some affordable housing, being in a small town is wonderful. Way better than the city. And cheaper too.
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ant_321
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Re: Living near YYZ/YTZ

Post by ant_321 » Wed Jul 24, 2019 10:13 pm

ZBBYLW wrote:
Wed Jul 24, 2019 7:58 pm
shawnthesheep wrote:
Wed Jul 24, 2019 6:16 pm
So it is basically not possible to own a house until you are in your 30s if you base out of yyz/ytz (porter)?
ZBBYLW wrote:
Wed Jul 24, 2019 6:11 pm
AC is not much better. FOs I've flown with have been getting by via various means.

Some have partners that work.
Some budgeted for this at their old job.
Many older FOs are from the PML so they got their top up.
Some live with parents.
Some have roommates and are extremely frugal.
One has confessed to using a LOC (ouch)
Not too many live downtown.
Most living alone are in a basement apartment or a small apartment.
Many commute, some from the east coast were you can live much better for the money.
At Rouge some do a ton of OT.

Don't owe money on your credit card, own an affordable beater outright or if transit works use that and don't own a car.

As a single young dude or dudette its not impossible you just have to remain engaged with your finances and be smart about decisions. That might mean not renting that trendy 1 bedroom apartment in the trendy neighborhood.
It depends where you want to live I suppose. If by house you mean a detached single family dewling close to YTZ... Shy of having cash in hand it's going to be pretty challenging to qualify for a mortgage even as a skipper. If you are okay living within a 90 minute drive (YTZ is one of the worst example for hosting affordability) you could probably find something. If you're okay with a town house or condo there are pockets within 60 minutes. Won't be posh but you'd find something. Within 60 mins of YYZ you can find some affordable housing, being in a small town is wonderful. Way better than the city. And cheaper too.
*affordable for the YYZ area.

Still ridiculously expensive in comparison to most of Canada. I recently sold a townhouse about 45 min from YYZ for $500k.
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bearitus
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Re: Living near YYZ/YTZ

Post by bearitus » Thu Jul 25, 2019 3:37 am

For me it wasn't easy. I am raising a family in the YYZ area and my wife doesnt work. How I managed to survive was by running a side business and using a line of credit when absolutely necessary. Now that I am left seat I still don't qualify for a mortgage in the GTA.
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shawnthesheep
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Re: Living near YYZ/YTZ

Post by shawnthesheep » Thu Jul 25, 2019 3:51 pm

That is very concerning. I am from yeg and could easily base in yyc if i ever get to that point but it is a dream to live in the toronto area.

bearitus wrote:
Thu Jul 25, 2019 3:37 am
For me it wasn't easy. I am raising a family in the YYZ area and my wife doesnt work. How I managed to survive was by running a side business and using a line of credit when absolutely necessary. Now that I am left seat I still don't qualify for a mortgage in the GTA.
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CL-Skadoo!
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Re: Living near YYZ/YTZ

Post by CL-Skadoo! » Thu Jul 25, 2019 7:52 pm

bearitus wrote:
Thu Jul 25, 2019 3:37 am
. Now that I am left seat I still don't qualify for a mortgage in the GTA.t
Do you mean you don’t qualify because you can’t yet put down 20%? If you look just over an hour to yyz, decent places can be had below 400,000. This being a non-rush, potential 407 commute, but they are out there. Definitely a tough go on single income.
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bearitus
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Re: Living near YYZ/YTZ

Post by bearitus » Fri Jul 26, 2019 5:00 am

CL-Skadoo! wrote:
Thu Jul 25, 2019 7:52 pm
bearitus wrote:
Thu Jul 25, 2019 3:37 am
. Now that I am left seat I still don't qualify for a mortgage in the GTA.t
Do you mean you don’t qualify because you can’t yet put down 20%? If you look just over an hour to yyz, decent places can be had below 400,000. This being a non-rush, potential 407 commute, but they are out there. Definitely a tough go on single income.

Nope I have the down payment (well not really but parents can help :) ). The reality is that even a townhouse in Mississauga near the airport is 700k+ these days. I am looking more into Hamilton, Barrie and Cambridge where the prices seem more reasonable ~400-500k.
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FishermanIvan
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Re: Living near YYZ/YTZ

Post by FishermanIvan » Sat Jul 27, 2019 12:17 pm

You gotta look harder and figure out what you want to live in. GF and I just bought a condo in the beaches for $450; two bedroom, one bath. Pretty close to YTZ and a great place to live.
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Re: Living near YYZ/YTZ

Post by twa22 » Sat Jul 27, 2019 5:27 pm

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Last edited by twa22 on Sun Sep 29, 2019 10:55 am, edited 1 time in total.

FishermanIvan
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Re: Living near YYZ/YTZ

Post by FishermanIvan » Sun Jul 28, 2019 7:49 am

Because the reality that anything reasonably near the airport in Toronto is $700K like someone said isn’t always true.
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Re: Living near YYZ/YTZ

Post by twa22 » Sun Jul 28, 2019 8:53 am

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Last edited by twa22 on Sun Sep 29, 2019 10:55 am, edited 1 time in total.

JBI
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Re: Living near YYZ/YTZ

Post by JBI » Sun Jul 28, 2019 7:52 pm

To expand a little more upon ZBBYLW's post:

Housing prices in Toronto are nuts and there isn't too much rhyme or reason to some of it. Nonetheless, most younger single folks (pilots or otherwise) will usually start out by renting a two or 3 bedroom apartment with roommates if they want to live downtown. This isn't really a new thing. I would say the bulk of newer pilots that I know in YYZ that actually live in the city do so with some sort of roommate situation.

Depending on the reserve/report requirements for the different airlines, there are many pilots who live further out in the GTA in smaller towns/cities such as Barrie, Collingwood, Orangeville, Guelph, Cambridge, Brantford, Hamilton, Port Perry, Oshawa etc. You can get significantly more house than in Toronto depending on what town you're in.

Where things have changed is that owning a detached single family house in Toronto proper now pretty much requires both spouses working full time in reasonably well paying jobs. Gone are the days that a professional or semi-professional single income family could afford a detached house in the city. That's just not the case anymore. It doesn't make sense as even detached houses in not particularly good areas near the airport are pricey.
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