Kitchener-Waterloo rents are shooting up; there’s a lot of development going on here. But COL is more affordable than GTA. Purchasing a property isn’t impossible and traffic isn’t insane. You definitely get to do a lot of activities round the year, and in warmer weather you have plenty of opportunities to drive around and make day trips to outdoor spots even outside KW.
Mind you salaries are still catching up. However definitely look into remote jobs. KW is very livable and you might be able to find a remote job that pays more than the local average.
And… as a temporary measure you can look into part time or contract work. There are few restrictions for a permanent resident, unlike an F1 or H1B visa. 
However - if you have any plans of working in Toronto (where you might need to travel to an office once the pandemic subsides), living in KW will be insanity. You will waste a lot of time and energy in commuting. Look at places closer to the city, like Milton or Etobicoke for instance.
See this post for more of my thoughts on living in KW:
Feel free to reach out if you have more questions about KW.