nikki dreaming

This could be an idea if your property is targeting first time buyers, this could really help them out providing their not currently renting. I suppose the difficulty is that most people already have their own furniture so wouldn't necessarily be looking for more, but its worth ago, anything is at the moment in my opinion

Arty

Hi All,
I second Canada Dreams on this,basicaly you need for a family of 4 a minimum of $20000 just to live .
Arty& Co

dbd33

Four people living on $20,000 in Southern Ontario would need to use a food bank.

BristolUK

Which shows how cheap things can be. Imagine 4 living on £10,000 in the UK.

Unless, you meant $200,000.

We are four and we have $21,500 - living comfortably.

Arty

Hi BristolUK,
just reading between the lines from this forum and others ,they indicate you really need double that just to get bye..
I would be coming over with a small sum from the sale of our house ,which all things going well would leave us with little or no mortgage.
Even with that, looking at the beginning of this threads puts the fear of God thru me,honestly how can people afford a decent lifestye with Canadian wages being so low.
Arty & Co

dbd33

And important costs such as petrol for the car and airfares home skyrocketing.

iaink

How? I just cant see how that is possible.

Assuming no mortgage, heating costs and property taxes would take maybe a quarter of that.

If you run a car, thats another quarter


There is no way you can have an income of $21,500 and be saving anything for retirement or college for the kids or replacing the roof or a car in five years time. I just dont see it as a viable long term prospect.

BristolUK

Well....I am not the only one here managing on a modest income. In other threads people say they can't imagine a food bill of under $1000 a month while others say they manage on $500.

I am actually retired (early) so I don't need to save for that. When I hit 65 my state pension will add $9k on current figures.

We have no mortgage. We don't drive...we chose to live in the city (even though it's more of a town to me. lol) because of that.

My £120k from the house sale bought our home and duplex. I still have some capital. We can easily downsize the home by $30k should we need more capital and the duplex would raise another $100k minimum - though at a cost of nearly $8k income.

dbd33

What about college? I spent about $20,000 a year for each of five years to put two kids through school. It's more now.

Winston Green

This might work as some are saying but just a word of caution. I have just completed a recce of NS and looked at furniture prices quite closely. Furniture is expensive in NS and to kit out a house would cost you far more than in UK and the quality of cheap furniture is much lower than in UK. You might find that yes your house has gone but the money you got for it is rapidly depleted replacing furniture. I do not know what furniture you have or would buy it is just a word of caution.

Again from the information gathered during our recce, on the income front in NS "I believe" that a family would need a household income of $55-65000 to live reasonably comfortably with a mortgage of around $120-150000. How ever to does not leave much for holidays or emergencies.

BristolUK

This is where some assume that their own lifestyles and their own choices are the norm, almost compulsory even.

My wife had student loans for her Uni education. In the UK and here I get the impression that is the norm. In an ideal world one has enough money for that, IF those are the choices. Although some people have reservations about serving things up on a plate without having to 'work' at things.

Why this assumption that all kids want/need/must have further education?

As it happens, we pretty much have things covered funding-wise should the need arise for the one who wants to go to Uni. The other of the two is actually not a candidate for further education.

NovaGirl

We live in Northern Nova Scotia & although i have been pretty sick i am not so in touch with things like i was.

IMO a family of 4, 2 adults & 2 young kids need to be on $40K plus with no mortgage. We are not big spenders & being sick we have not had a normal everyday life for a few years, but there is no way we could manage on even $30K. We don't go on holiday & are able to pay our bills but until my health returns we are unable to save any money at this point.

Our life suits our situation, with me being ill it is perfect OH working locally but it is at a price, lower income. The up side is a safer, slower pace of life which we can just about keep up with. I am on a recovery plan & thank god our kids are very happy. Once i get well we will want to do a lot more & this will take money.

NG x

BristolUK

A fair point...however, we furnished our home by buying in NB. I would say everything except beds were cheaper than the equivalent items I had in England. Not sure about the fridge as it came with the house, but a freezer we bought since was cheap.

If NS is more, maybe NB would be cheaper, depending on delivery costs.

MikeUK

I Live in Brampton ON and these are last years actual numbers.....

Its what I spent..... not a minimum.... not a maximum

and certainly not a guide to what you might be able to get away with

dbd33

I didn't assume that, I just chose not to the clutter the question with a bunch of qualifiers such as "if one's child is a candidate", "if one is supportive" etc.

Paying for the tuition and books is not, in my view, "serving things up on a plate". The student still has to find money for food and rent and transport and all the rest of the routine costs of living. Nonetheless, I acknowledge thinking it desirable for parents to get their kids out of school debt free.

Firstly it's the norm in North America, even bank clerks have degrees. Secondly one can reasonably assume immigrants to be aspirational, that's why countries want immigrants. Typically immigrants want their children to succeed according to the standards of the country to which they have immigrated and that means they gotta get educated.