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Nova Scotia Move with budget details

Nova Scotia Move with budget details

Old Aug 8th 2021, 6:43 pm
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Default Nova Scotia Move with budget details

Hello all,

great to virtually meet you. My partner and I are looking at moving to Nova Scotia from England. Partner is from Halifax and is a Canadian citizen so we have an established family network.

we would be looking to buy a house with a 70% down payment and a 30% Canadian mortgage.

I am a Marketing Director in the U.K., but willing to step down to a managerial role, or possibly lower if needed. Partner is an event manager and would do the same.

We have family who would let us stay with them for the first 4-6 months to ‘get on our feet’ and find jobs and a house. They have a cottage an hour outside Halifax that we could stay in temporarily too. No kids as yet!

The question we’d love some help with is around what kind of salaries we would need to live an ‘average life’ excluding our mortgage as will need to speak to lenders on that one!

thank you so much for your help!

Last edited by KattoNS; Aug 8th 2021 at 6:46 pm.
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Old Aug 8th 2021, 10:41 pm
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Default Re: Nova Scotia Move with budget details

Hi guys and welcome to NS.

That is not an easy question to answer as it depends on quite a few factors.

I have no knowledge of the average salaries commanded by your current roles. My wife was a middle (Section) Manager for Costco and was paid about $75,000.00 plus pension and medical. I am told that is a good salary for Middle Management in retail. She stepped down to part time in 2016 and earns about $55,000.00 plus pension and medical. I think as we have no mortgage, we could live on her wage but doubt it would be involve lots of international travel and meals out.

Cost of living varies where in the province you live. As an example we live an hour outside Halifax in a large house and our property taxes are roughly $2,750.00 per year. In the city you can triple it or more, for much smaller properties. Which means you need to earn more to have an average life style.

How far you commute to work affects it as well. My wife travels 80Km to work, on average five days per week (she is part time now). I have not really travelled much lately and do very few miles.Our Gas (Petrol) last year cost nearly $5,000.00 not to mention car insurance 3xcars (one off road in winter) $2,600.00. If you have to commute it drives up your costs and you need to earn more.

Your family can advise on the average costs of groceries, home fuel etc etc. Groceries and insurance are some of our biggest bills after tax, well after tax. NS has some the highest if not highest tax brackets in North America. When looking at salaries you need to seek professional advice regarding tax, Employment Insurance and CPP deductions and is it worth taking a job with what appears to be a high salary. I am no financial expert but as you both appear to be in potentially well paid professional roles, I would suggest getting financial advice early as possible. If you set your new life up properly at the start it will save you loads later on.

Most if not all of your type of work will be in and around Halifax. I took a quick look, there are some marketing manager positions advertised at the moment but they only give national average salaries. It may help though:.

https://www.google.com/search?q=mark...hrome&ie=UTF-8

There are loads of existing threads on here about costs of living, job searching etc. In your case you may have an advantage if your family can network for you.

We wish you well and if you need anything give us a shout.


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