Hi, I am a single parent of a 1 year old daughter. I am from Toronto, Canada. I am living in a small apartment on rent. I feel like it is better to move to the suburbs in a good neighborhood for the growth and development of my daughter. She is growing fast, I should be able to give her space. I also read somewhere, quite some time before, that growing up in a house in a good neighborhood is better for the mental and physical development of the child.
If I'm to buy a house, then I will have to get a mortgage loan. I think most people are buying their house on a loan these days. I looked at the rate chart ( https://www.butlermortgage.ca/rates/ ) And I can't figure out what to do. Maybe I have to see a financial planner. But, before I spend my savings on the house, do you think a child would benefit growing up in a quiet neighborhood than the busy city apartment? After all , It's on rent and I have to buy a house sooner or later.
I need to hear what you have to say about it. Please share your wisdom.