Everyone would like to be able to own luxury real estate in Toronto, but unfortunately this option is open only to the very rich. The vast majority of people have to settle for small condos or apartments if they want to live in Toronto proper. Often this is fine when they're young and unattached, but once they get married and start building their families, they find that they need more space. Being unable to buy in Toronto proper, they look for the next best thing: a home in the suburbs. Here are some options.

Northern Suburbs

Heading north out of the city of Toronto, there are numerous municipalities whose edges blend into the massive suburban entity that is Toronto. Vaughn, Richmond Hill, and Markham are all viable options for a young family that is willing to put up with a sizeable commute into Toronto for work. Vaughan real estate costs as little as half of what you would pay in the desirable areas of Toronto and there's the added bonus of having Canada's Wonderland nearby for the kids.

Eastern Suburbs

Heading east along the shoreline of Lake Ontario will take you to a variety of small cities where things aren't quite as hectic as they are in Toronto. Cities like Ajax, Pickering, Whitby and Oshawa were once their own separate entities and indeed still feel like it today. Choosing Ajax real estate means a longer commute but even smaller mortgages than you could hope for up north. There's also the possibility of getting waterfront property on your budget, because in addition to the lake there are many rivers and reservoirs.

Western Suburbs

Heading west out of Toronto you arrive in Mississauga, which is just as built up as Toronto but has a fraction of the real estate prices. Living in Mississauga condominiums also offers you the shortest commute out of any of the Toronto suburbs as well as the chance of getting a job closer to home, as Mississauga has a large economic infrastructure as well. Past Mississauga, there is also Oakville, Burlington, and Brampton, where commutes are longer but prices are even cheaper - a third or less of what a property in Toronto would cost.

Halton Hills

Unfortunately, even buying Markham, Ontario real estate means you have to put up with a lot of urbanization. If you want the best of both worlds - a quiet rural home and a busy city job, you do have an option: move to the hills. Past suburban Brampton are a series of small towns that still subsist on farming, such as Churchville, Milton, and Caledon. They're harder to commute from than the suburban areas, but they may be able to give you the peace of mind you're looking for.