Having had a baby at 40 and then being unable to have a second, I agree, get started on having kids as soon as possible.   It gets harder every year after your mid 30's, although I know many women who had kids around age 40.

 I would still buy a place, but would buy a townhouse instead of a detached house in order to keep costs  down.  I would not buy in Toronto, but would look for a home on a GO train line with the shortest commute possible.  Renting is an option, but renting a family-sized unit in Toronto is very expensive.