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Today: 20.01.2018 - 15:11:37
   Canada Mortgage Hub Discussion Board -> Mortgage Montreal -> How much money should I be earning to live a comfortable lifestyle in Montreal?
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piligrim80

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How much money should I be earning to live a comfortable lifestyle in Montreal?
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Post # 1.

pseudoconclude11946

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Need I say more?Gee, some folks just can't keep their big mouths shut huh? (I'm not talking about you Anne so don't worry!)Well, at least I don't have to answer the question now since a certain someone who doesn't have the common decency to answer his e-mails beat me to it!That's all good though... he'll keep.
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psmdelin

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80,000 to 100,000she said "mortgage"I didn't know you could buy a home for $700 in montreal???i doubt he could buy a trailer in a trailer park for $700,but she's not looking at renting anyways,she said so.she still has to pay tax.if your renting steve is right on.my though was that to live good you would need about $1000 a week [take home]thats $52000 after tax ,so that how i come up with 80,000i did not catch that she was a she...lolreally , that's not that much.
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protracter9831

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Good answer from SteveN except that Medicare isn't only for citizens, it's for any legal resident who pays taxes. There are NO economic benefits to Canadian citizenship compared to landed immigrant status (unless, I guess, your employer pays you for the four hours he has to give you off on voting day).Come to think, did Steve mention taxes?
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psmdelin

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Montreal:Rent = approx $700 per month(you can find cheaper in outlying areas or in less desirable parts of town, more expensive in other parts)Electricity/Heating = $150 per month (if not included in rent)Food = $100 per week (one person)Public Transit = $80 (on-island) So you are looking at $8400 for housing, $1800 for utilities, $1200 for food, and about $1000 for transportation. Add on to that insurance (home, life, plus Blue Cross since you are American and don't qualify for Medicare until you become a citizen), phone bills (cell phone and/or land line), cable TV, internet service, then you are running a minimum of about $20,000 for bare living expenses.If you buy a car, you are adding to the expense, by the way. Costs for cars are $20,000 for a small Toyota, $200 for registration, $100 for license, $1000 for insurance, and gas as of today was $1.17 per liter (roughly $4.60 a gallon). If you live on the island, you probably won't need a car, or can rent one if you need to go out of town.(Edit: Ole Man)I guess you focused too much on my rent vs mortgage and did not see the asker was Anne. You say SHE needs $80K-100K minimum to be able to pay a mortgage and live comfortably? Anne wanted a rough idea of the cost of living in Montreal, so that's how I figured I'd answer the question...in the spirit of the question. My point was that you need to make $20K just to pay your living expenses and break even. To "live comfortably", you would need probably twice that much. To buy a house, triple it.I had her renting as a non-Canadian resident who may not want to deal with purchasing real estate here in the first few years. Yes, you have to pay income tax here, but with a house you also pay the full amount of the school tax, the municipal taxes, and of course the welcome tax on the home.For the record, with a down-payment of 10% on your home, you can get a mortgage costing $925 a month on a $50K/yr salary. Example: There are condos going up in Riviere-des-Prairies on the eastern tip of the island for $146,000.
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