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Today: 17.01.2018 - 14:50:56
   Canada Mortgage Hub Discussion Board -> Mortgage Ottawa -> How much would it cost on average to live in Canada?
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rastazzz

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How much would it cost on average to live in Canada?
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Post # 1.

nkidhd

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my Fiance makes between $30,000 and $40,000 we live about 20 minutes away from his work in St. John's Newfoundland. I'm a student so I don't really have a steady income so everything is based on his right now. I can't give exact numbers on each bill because I'm not at the house right now. We were able to buy a house that was a little over $100,000 it's a small 3 bedroom 1 bath home with a nice size back yard. Just big enough for 2 people and 2 cats. The cable and internet is a bit pricier here than other places but we still can comfortably afford full high speed and digital cable. Satellite is a bit cheaper. A home phone line isn't very expensive if you have internet. There are lots of package deals you can do with companies like Alient and Rogers. groceries for the two of us are about $130 every two weeks so for one person it would be less. As for jobs it really depends on what you do.
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Post # 2.

privatively9948

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It really depends what are you live in. I made about that much when I lived in Lethbridge (though it's not easy to find a job that pays that much there unless you work in a factory, or have specialize in something). I lived in a one bedroom apartment though, and I was financing a new vehicle. I didn't have a dog, it was just me, but I made enough to live comfortably.I live in Calgary now, and if you make that here, you really have to live in an apartment or something, or at least with other people to help aleviate some of the cost. Toronto and Vancouver are two other areas to avoid if you are only making $30,000 to $40,000.My husband and I together make at least $150,000 a year and we rent a large house and are financing a used SUV. We have a 2-year-old son and no pets and a few thousand in debt besides, and we are just scraping by right now. Mind you, we're also on winter hours and are not working any overtime. Most of our money is made during the summer with overtime, and we got married last summer, so that's why the debt.
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nicole000

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This answer could differ from each province and region within a province. Cities in the maritimes, I found to be quite cheap. Decent sized cities etc.A city such as Fredericton appears to pretty good. You can buy a very nice house for $130,000 (or under). They have good bicycle paths in case you maybe wanted to bike to work in the summer, keep your car to use in the winter or in case of emergencies. I've never owned a car, however could never imagine affording one.You may make less money in Fredericton than in say Vancouver, however the cost of living if completely different. It's far too high in Vancouver. So all I can really answer is province. The further West you go, the more money you'll need to spend, while the further east you go the cheaper it is. If I moved east, I'd go to New Brunswick. Cheap, beautiful, has pretty well everything you'd need.
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reta

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what about beer ?
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Post # 5.

p_amelia

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As long as you don't live in one of the big cities you should be ok.
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projectseven

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Let's just say you get a $36,000 a year job. That's $3000 a month. Let's take off 25% of that for taxes, EI, CPP, union dues or whatever.. This leaves you $2250 cash in hand per month. So now lets see what you can get for $2250 cash in hand:I know someone that got a $200,000 mortgage making $36,000.But they saved up $20,000 in cash for a downpayment. Anyway, assuming that you have no debt, and you can somehow manage to get a $180,000 mortgage (usually the rule of thumb is a bank will give you a mortgage of 3x your yearly salary, so in your case $100,000 which will get you nothing, but there are brokers out there that will help you out.)So let's use this as an example. You want a $200,000 mortgage at a 4.5% interest rate ammoritized over 25 years. You're looking at a monthly payment of about $1100. Let's say you want to upgrade to a $250,000 house, well you'd probably want to ammoritize for more years by negotiating with your broker, but not sacrifice your interest rate. So on average for $200K - $250K house, let's just say you'll pay anywhere between $1100 and $1300 per month JUST for the mortgage. So if you're BUYING, this is what your life would look like:Mortgage: $1200 per monthHydro: $130 per monthWater: $80 per monthGas: $80 per monthFood: $250 per monthBus Pass: $60 per monthDog Food: $60 per monthCable / Internet / Phone: $130 per monthHouse maintenance in case anything breaks: who knows how muchSo this is BASIC life and you're looking at $1990 cash-out per month out of your $2250 for a total of $260 per month for savings or entertainment or anything else. This is pretty slim. All your money is going to living and soon enough you'll be depressed because you can't entertain yourself or save money or anything. You should try to find a job that is $45,000 per year or more for a more comfortable life. Your other option is renting for a while. Or even renting an apartment. You can rent an all-inclusive apartment for $800 and you don't have to pay water, hydro or gas... and that would save you upwards of $500 per month. You can save that $500 per month for 2 years livinig in an apartment, get $20,000 for a downpayment on a house, then cut your mortgage down from $200,000 to $180,000anyway, you can see where im' going here. There are many options, but $36,000 will only go so far. I think $45,000 + you can live a very comfortable life.
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