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British Expats (https://britishexpats.com/forum/)
-   Canada (https://britishexpats.com/forum/canada-56/)
-   -   Is this enough ? (https://britishexpats.com/forum/canada-56/enough-631555/)

kevinm Sep 19th 2009 1:14 am
Is this enough ?
 
Apologies for this question I know its been asked numerous times but tried the search with no real luck.
Im trying to do sums on how much I would need p/m to live on.
Im thinking of NS in a standard 4 bed around $400,000, with no mortgage.
Do you think $2000 a month would cover every house hold bill, (no car)
Should mention we are a family of 4.
Many thanks

bodgerx Sep 19th 2009 2:06 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945482)
Apologies for this question I know its been asked numerous times but tried the search with no real luck.
Im trying to do sums on how much I would need p/m to live on.
Im thinking of NS in a standard 4 bed around $400,000, with no mortgage.
Do you think $2000 a month would cover every house hold bill, (no car)
Should mention we are a family of 4.
Many thanks
Most people's experiences suggest that the cost of living doesn't differ substantially from the UK.

So you could ask yourself, if I am mortgage free could I live in the UK with a family of 4 on just over £1000 a month?

kevinm Sep 19th 2009 2:12 am
Re: Is this enough ?
 
Originally Posted by bodgerx (Post 7945566)
Most people's experiences suggest that the cost of living doesn't differ substantially from the UK.

So you could ask yourself, if I am mortgage free could I live in the UK with a family of 4 on just over £1000 a month?
Thanks for your reply, that is what I was thinking / hoping. Cheers

Flogger Sep 19th 2009 2:19 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945482)
Apologies for this question I know its been asked numerous times but tried the search with no real luck.
Im trying to do sums on how much I would need p/m to live on.
Im thinking of NS in a standard 4 bed around $400,000, with no mortgage.
Do you think $2000 a month would cover every house hold bill, (no car)
Should mention we are a family of 4.
Many thanks
No chance,Groceries alone will eat up half of that.Also why spend so much on a house?Bigger the gaff,the more the heating bill.Do not believe $400,000 is standard for a house in NS.

kevinm Sep 19th 2009 2:22 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945599)
No chance,Grocceries alone will eat up half of that.Also why spend so much on a house?bigger the gaff more the heating bill.Do not believe $400,000 is standard for a house in NS.
Most the houses l see that I think would be ideal ar emor elike $500,000 I guess it depends on where you go and what you want.

Currently we easily get by on 1k a month, all bills and food. Roughly allow £100 p/w for food, so £600 for just bills.

Flogger Sep 19th 2009 2:30 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945617)
Most the houses l see that I think would be ideal ar emor elike $500,000 I guess it depends on where you go and what you want.

Currently we easily get by on 1k a month, all bills and food. Roughly allow £100 p/w for food, so £600 for just bills.
Where are you looking?

I think it would be one hell of a struggle,and not much fun. can't see why you would want to sit in a mansion,freezing cold because you can't afford to heat it.
Sorry.

bodgerx Sep 19th 2009 2:32 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945599)
No chance,Groceries alone will eat up half of that.Also why spend so much on a house?Bigger the gaff,the more the heating bill.Do not believe $400,000 is standard for a house in NS.
Agreed.

Butch Cassidy Sep 19th 2009 2:33 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945617)
Most the houses l see that I think would be ideal ar emor elike $500,000 I guess it depends on where you go and what you want.

Currently we easily get by on 1k a month, all bills and food. Roughly allow £100 p/w for food, so £600 for just bills.
A quick search on Realtor.ca reveals approx 300 properties between 225 and 400. 44 properties between 400 and 550. I guess you are into the 'more exclusive' abode?

kevinm Sep 19th 2009 2:36 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945629)
Where are you looking?

I think it would be one hell of a struggle,and not much fun. can't see why you would want to sit in a mansion,freezing cold because you can't afford to heat it.
Sorry.
http://www.realtor.ca/propertyDetail...ertyId=8705431
I wouldnt say this is a mansion and at $370 that is only just under $400 so not much difference.

To answer my question then it is more expensive to live in NS then it is in the UK, because if 1k is doable here in a ok sized 4 bed with 2 kids and no chanve in NS.

Butch Cassidy Sep 19th 2009 2:38 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945642)
http://www.realtor.ca/propertyDetail...ertyId=8705431
I wouldnt say this is a mansion and at $370 that is only just under $400 so not much difference.

To answer my question then it is more expensive to live in NS then it is in the UK, because if 1k is doable here in a ok sized 4 bed with 2 kids and no chanve in NS.
Its hardly a shoe box on a postage stamp lot either

Flogger Sep 19th 2009 2:40 am
Re: Is this enough ?
 
Originally Posted by Butch Cassidy (Post 7945638)
A quick search on Realtor.ca reveals approx 300 properties between 225 and 400. 44 properties between 400 and 550. I guess you are into the 'more exclusive' abode?
and probably same again below 225.
If you will only have $2k a month (presume before tax,but hope after).You have to be smart with what you spend "your moving over cash" on.

Flogger Sep 19th 2009 2:42 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945642)
http://www.realtor.ca/propertyDetail...ertyId=8705431
I wouldnt say this is a mansion and at $370 that is only just under $400 so not much difference.

To answer my question then it is more expensive to live in NS then it is in the UK, because if 1k is doable here in a ok sized 4 bed with 2 kids and no chanve in NS.
Oh that will be a tight squeeze:blink:

kevinm Sep 19th 2009 2:43 am
Re: Is this enough ?
 
Originally Posted by Butch Cassidy (Post 7945647)
Its hardly a shoe box on a postage stamp lot either
Agreed, probably not the best example I could find really. :)

2k would be after tax, I would have more but I really wanted to know if like was like, 1k here 2k there (roughly converted I know)

Ive looked on mls loads and houses under $300 I think ar ehard to find that are commutable to Halifax and look decent. I maybe wrong, but if you have a example id be pleased to see it. :)

Flogger Sep 19th 2009 2:45 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945658)
Agreed, probably not the best example I could find really. :)

2k would be after tax, I would have more but I really wanted to know if like was like, 1k here 2k there (roughly converted I know)

Ive looked on mls loads and houses under $300 I think ar ehard to find that are commutable to Halifax and look decent. I maybe wrong, but if you have a example id be pleased to see it. :)
At least you are comming down to $300,000

kevinm Sep 19th 2009 2:48 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945663)
At least you are comming down to $300,000
I have seen a couple @ 300 that would be totally acceptable.
this one looks great however bit far away.

http://lunenburghouse4sale.com/ Would you say this is big ?

ann m Sep 19th 2009 2:50 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945629)
I think it would be one hell of a struggle,and not much fun. can't see why you would want to sit in a mansion,freezing cold because you can't afford to heat it.
Sorry.
I've got to agree - we're mortgage free and we are by no means flush. It's the little people in the house that are expensive, and they just keep getting bigger and more costly as the days, months and years go on. Who knew? Add some hockey, football or dance classes and things can get painful. Of course, they don't have to go to any clubs, I guess. I just spent $300 on new dancewear. I can't really afford that at the moment. (And yes, I did try to get second-hand but my children have awkward feet!)

Throw into the mix a couple of vehicles - everyone always needs vehicles unless they live 5 mins from transit - plus insurance and petrol costs. Even if you can buy some outright, what happens in 3 or 5 years when the tyres need replacing or something expensive blows up?

Now add groceries - I spend $800-$1100 a month depending on what we're eating and who we are entertaining, and quite how depleted the cupboards became before a trip to Costco.

Then just add normal household bills - depending on the property you buy, will you be on oil heating, will you need to supplement it with wood - will you be on mains gas and water? Do you need to maintain a well? Do you want satellite/cable TV?

Do you anticipate a holiday in the next few years? Will you be receiving guests who stay and cost a lot for several weeks, even though it's wonderful to have them?

Do you want to have a go at ski'ing or fishing, or buy any "toys" (and maintain them). Do you need to consider further education fees for your kids? Do you want/have/need a dog for your new life?

I couldn't begin to survive on $2000 a month, even after tax. Not without major, major cutbacks. And a trip to the Food Bank.

Others will now be along to prove me wrong and scold me for my wasteful ways :p

Flogger Sep 19th 2009 2:52 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945670)
I have seen a couple @ 300 that would be totally acceptable.
this one looks great however bit far away.

http://lunenburghouse4sale.com/ Would you say this is big ?
Bit far,is it not without transport?
Also tain't small is it?

kevinm Sep 19th 2009 2:54 am
Re: Is this enough ?
 
Originally Posted by ann m (Post 7945676)
I've got to agree - we're mortgage free and we are by no means flush. It's the little people in the house that are expensive, and they just keep getting bigger and more costly as the days, months and years go on. Who knew? Add some hockey, football or dance classes and things can get painful. Of course, they don't have to go to any clubs, I guess. I just spent $300 on new dancewear. I can't really afford that at the moment. (And yes, I did try to get second-hand but my children have awkward feet!)

Throw into the mix a couple of vehicles - everyone always needs vehicles unless they live 5 mins from transit - plus insurance and petrol costs. Even if you can buy some outright, what happens in 3 or 5 years when the tyres need replacing or something expensive blows up?

Now add groceries - I spend $800-$1100 a month depending on what we're eating and who we are entertaining, and quite how depleted the cupboards became before a trip to Costco.

Then just add normal household bills - depending on the property you buy, will you be on oil heating, will you need to supplement it with wood - will you be on mains gas and water? Do you need to maintain a well? Do you want satellite/cable TV?

Do you anticipate a holiday in the next few years? Will you be receiving guests who stay and cost a lot for several weeks, even though it's wonderful to have them?

Do you want to have a go at ski'ing or fishing, or buy any "toys" (and maintain them). Do you need to consider further education fees for your kids? Do you want/have/need a dog for your new life?

I couldn't begin to survive on $2000 a month, even after tax. Not without major, major cutbacks. And a trip to the Food Bank.

Others will now be along to prove me wrong and scold me for my wasteful ways :p
All very valid points, however I would be earning more but ideally was hoping Id be spending roughly what I am now.

I suppose another questing then, can you survie on $50,000 a year mortgage free ?

Deva Sep 19th 2009 3:01 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945686)
All very valid points, however I would be earning more but ideally was hoping Id be spending roughly what I am now.

I suppose another questing then, can you survie on $50,000 a year mortgage free ?
Are you talking gross or net? Have a look at the tax calculator below for an idea of tax rates in each province.

http://www.ey.com/CA/en/Services/Tax...9-Personal-Tax

When you say $2000 for all bills do you mean food and utilities or $2000 for absolutely everything? $2000 for food and utilities is more than manageable.

Steve_P Sep 19th 2009 3:02 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945686)
I suppose another questing then, can you survive on $50,000 a year mortgage free ?
Yes but you likely won't be saving anything and you will likely not have any of the "extras".

kevinm Sep 19th 2009 3:04 am
Re: Is this enough ?
 
Originally Posted by Deva (Post 7945692)
Are you talking gross or net? Have a look at the tax calculator below for an idea of tax rates in each province.

http://www.ey.com/CA/en/Services/Tax...9-Personal-Tax

When you say $2000 for all bills do you mean food and utilities or $2000 for absolutely everything? $2000 for food and utilities is more than manageable.
Sorry meant $60000
$2000 would be for general bills cable heating water etc and food, I was thinking another 2k on savings and doing extra things, so basically take home $4000

Cookie Sep 19th 2009 3:07 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945482)
Apologies for this question I know its been asked numerous times but tried the search with no real luck.
Im trying to do sums on how much I would need p/m to live on.
Im thinking of NS in a standard 4 bed around $400,000, with no mortgage.
Do you think $2000 a month would cover every house hold bill, (no car)
Should mention we are a family of 4.
Many thanks
A $2000 take-home pay for a family of 4 income is very low (around $16 per hour based on 40 hour week). However, if that is a pension then that's a great start but someone will need to work to get your take-home pay to at least $3000 but preferably over $3500 at least if you don't want to scrape by every month, and have money to enjoy occassional suppers out, movies, buying small items ie clothes/household items, kids sports/outings, and save a little for rainy days/holidays.

We are a family of 4, have no mortgage and no other debts (ie car payment), Neither of us smoke. Our town house taxes (New Glasgow) are $4000 per year :eek: (jumped up from $3400 last year).

$2000 was no way doable for us. I did not live on a tight budget in the UK so would not be happy living on that here. Here is our monthly breakdown.

House tax - $340
Fuel - $50 (I live 1.5km to where I work and mainly drive around town). OH has company paid vehicle.
NS Power (electric) - $250 (also main source of heating is ETS system - this is cheap overnight storage heating. We run an pool in the summer)
No oil (prices are high, someone else may post their fuel costs)
Propane/wood - $400 per year (propane hooked up to BBQ, plus fire in livingroom)
TV - $140 per month (HD 2 x PVR full package)
Phone/internet - $92
Cellphones (3 phones on a sharing plan) - $160 all in (one son now in Newfoundland)
Car insurance - $75
House insurance - $51

So far that is around $1150 without food. Did not include entertainment, clothes, household items, car tax/servicing/repairs/tire changing, hobbies.

On $3000 per month, you can of course live more frugally but ask yourself if you want to move to live that way long term. It can work in the short term, but with each season (especially in the first year) you shell out a lot of cash for seasonal items (garden/outdoor furniture, bbq, snowblower, traction sand (for fairly long driveway) winter tires, snow gear, etc).

Just saw your new post - $4000 is doable :thumbsup:

Steve_P Sep 19th 2009 3:12 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945699)
Sorry meant $60000
$2000 would be for general bills cable heating water etc and food, I was thinking another 2k on savings and doing extra things, so basically take home $4000
$60,000 annual gross salary I would suggest you'll likely see closer to $3,500 take home per month.

Cookie Sep 19th 2009 3:16 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945682)
Bit far,is it not without transport?
Also tain't small is it?
It's beautiful though and what a view :thumbsup:

Flogger Sep 19th 2009 3:18 am
Re: Is this enough ?
 
Originally Posted by Cookie (Post 7945724)
It's beautiful though and what a view :thumbsup:
innit just.

kevinm Sep 19th 2009 3:20 am
Re: Is this enough ?
 
Originally Posted by Cookie (Post 7945707)
A $2000 take-home pay for a family of 4 income is very low (around $16 per hour based on 40 hour week). However, if that is a pension then that's a great start but someone will need to work to get your take-home pay to at least $3000 but preferably over $3500 at least if you don't want to scrape by every month, and have money to enjoy occassional suppers out, movies, buying small items ie clothes/household items, kids sports/outings, and save a little for rainy days/holidays.

We are a family of 4, have no mortgage and no other debts (ie car payment), Neither of us smoke. Our town house taxes (New Glasgow) are $4000 per year :eek: (jumped up from $3400 last year).

$2000 was no way doable for us. I did not live on a tight budget in the UK so would not be happy living on that here. Here is our monthly breakdown.

House tax - $340
Fuel - $50 (I live 1.5km to where I work and mainly drive around town). OH has company paid vehicle.
NS Power (electric) - $250 (also main source of heating is ETS system - this is cheap overnight storage heating. We run an pool in the summer)
No oil (prices are high, someone else may post their fuel costs)
Propane/wood - $400 per year (propane hooked up to BBQ, plus fire in livingroom)
TV - $140 per month (HD 2 x PVR full package)
Phone/internet - $92
Cellphones (3 phones on a sharing plan) - $160 all in (one son now in Newfoundland)
Car insurance - $75
House insurance - $51

So far that is around $1150 without food. Did not include entertainment, clothes, household items, car tax/servicing/repairs/tire changing, hobbies.

On $3000 per month, you can of course live more frugally but ask yourself if you want to move to live that way long term. It can work in the short term, but with each season (especially in the first year) you shell out a lot of cash for seasonal items (garden/outdoor furniture, bbq, snowblower, traction sand (for fairly long driveway) winter tires, snow gear, etc).

Just saw your new post - $4000 is doable :thumbsup:
Thanks for your post, maybe I should of been clearer. $2000 for most household things then $2000 for whatever.

I currently have no job ideas what I want to do, I really dont mind so Im seeing what I can earn to be fairly comfortable, we live quite well here so I really dont want to give that up. More thinking I guess :(

R I C H Sep 19th 2009 4:06 am
Re: Is this enough ?
 
Originally Posted by Steve_P (Post 7945718)
$60,000 annual gross salary I would suggest you'll likely see closer to $3,500 take home per month.
I think that's reasonably accurate - obviously it depends on the benefits, health care premiums, union dues and pension contributions etc that your employer has to deduct from your salary, but IME, $4k take home equates to close to $75k salary.

Louisecooke Sep 19th 2009 4:28 am
Re: Is this enough ?
 
How are you planning to commute anywhere with no car :confused:

kevinm Sep 19th 2009 4:57 am
Re: Is this enough ?
 
Originally Posted by Louisecooke (Post 7945824)
How are you planning to commute anywhere with no car :confused:
I meant in the 2k a month no payments out of that for a car, I will have a car though. 2k just for utilities and food

JonboyE Sep 19th 2009 5:27 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945891)
I meant in the 2k a month no payments out of that for a car, I will have a car though. 2k just for utilities and food
I know that heating costs are less out in Vancouver, but I think you will be OK for food and utilities for $2,000. Our budget is $1,900 and includes property tax and house insurance as well as TV/Internet/Phones. This is for three of us.

The two vehicles add another $1,200 a month to buy, insure, maintain and fill with gas. Clothing, booze, entertainment and all the fun stuff are budgeted at $700 a month. Finally we save $200 a month for vacations and $400 for our house maintenance and repairs fund.

That is $4,400 a month after tax, but we feel we live pretty well on that.

However, this does not include retirement savings, or kid's education.

Louisecooke Sep 19th 2009 5:30 am
Re: Is this enough ?
 
Ah I see! Well that will take up a fair bit of your extra money if you are going to live so far out. Lunenburg is about 1 1/2 hours commute from Halifax I think, so driving for 3 hours per day (more in winter). My husband works about 45 mins from home and pays around $150-$200 a week in gas, then you have all the extras of car ownership that add up so much.

Personally I'd be looking at getting a cheaper house.

kevinm Sep 19th 2009 5:49 am
Re: Is this enough ?
 
Originally Posted by Louisecooke (Post 7945955)
Ah I see! Well that will take up a fair bit of your extra money if you are going to live so far out. Lunenburg is about 1 1/2 hours commute from Halifax I think, so driving for 3 hours per day (more in winter). My husband works about 45 mins from home and pays around $150-$200 a week in gas, then you have all the extras of car ownership that add up so much.

Personally I'd be looking at getting a cheaper house.
I wouldnt be able to get that house being so far away it was just a example of a 300k house I like, id be more like Fall River / Hammond Plains. Not really seen any houses under $300 that really appeal, unless im not looking in the right place, i will need to view some when i come over to see what you get for your money

bodgerx Sep 19th 2009 6:38 am
Re: Is this enough ?
 
Originally Posted by kevinm (Post 7945658)
Agreed, probably not the best example I could find really. :)

2k would be after tax, I would have more but I really wanted to know if like was like, 1k here 2k there (roughly converted I know)

Ive looked on mls loads and houses under $300 I think ar ehard to find that are commutable to Halifax and look decent. I maybe wrong, but if you have a example id be pleased to see it. :)
I would say as low as $250K would get you something decent within 30 mins commute to Halifax. There are some on this forum here that have bought reno projects for a lot less and have done quite well.

kevinm Sep 19th 2009 6:40 am
Re: Is this enough ?
 
Originally Posted by bodgerx (Post 7946096)
I would say as low as $250K would get you something decent within 30 mins commute to Halifax. There are some on this forum here that have bought reno projects for a lot less and have done quite well.
That would be a good idea, I have even thought of buying land to build on, the bad things is im so rubbish at DIY so id have tp pay someone to do it.

bodgerx Sep 19th 2009 6:47 am
Re: Is this enough ?
 
http://www.propertyguys.com/properti...-single-family

http://www.propertyguys.com/properti...-single-family


http://www.propertyguys.com/properti...-single-family

kevinm Sep 19th 2009 7:25 am
Re: Is this enough ?
 
cheers for the links, not been on this site, ill have a look whats about.

purple80 Sep 19th 2009 8:19 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7945599)
No chance,Groceries alone will eat up half of that.
We're a family of five and a kitten and I don't spend $1000 a month on groceries.

Flogger Sep 19th 2009 8:28 am
Re: Is this enough ?
 
Originally Posted by purple80 (Post 7946246)
We're a family of five and a kitten and I don't spend $1000 a month on groceries.
We do easily.Four of us plus dog.Don't think we are very savy though regarding flyers,or other offers.

purple80 Sep 19th 2009 8:43 am
Re: Is this enough ?
 
Originally Posted by Flogger (Post 7946263)
We do easily.Four of us plus dog.Don't think we are very savy though regarding flyers,or other offers.
Flyers and coupons are a must, I rave about them OH things I am a sad git, you should be able to save a bit on dog food, he's helping himself......:rofl:

dbd33 Sep 19th 2009 8:50 am
Re: Is this enough ?
 
To meet the proposed budget I suggest having the children's teeth pulled out upon arrival.


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