Opportunity to move to Vancouver - Advice needed.
Oct 15th 2019, 9:08 pm
#16
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Joined: Aug 2013
Posts: 267
Re: Opportunity to move to Vancouver - Advice needed.
I am in Vancouver and in your position I would do it, yes.
One big issue is if your wife does intend to return to work before your child starts school (which in BC is rising-6) is that childcare is very expensive and very hard to obtain. Rent is high but the landlord pays the council tax equivalent so that's something.
If you do come then make sure to drop by your local community centre for details of mum and baby/dad and baby things. There is so much more emphasis on and provision for these activities than there is in the UK.
RRSP matching is very handy for saving a deposit towards a house but I think you must first file a tax return in order to qualify for the second year. Careful not to over-contribute as you will get stung. Suggest checking whether the contribution can be made to a TFSA instead.
One major caveat:- Do you have substantial savings? I would not do it if I was a paycheque away from disaster. Unexpected costs can arise. Make sure you have a few month' salary stashed away for emergencies as well as expected costs.
To keep costs down, I suggest forgoing cable TV (the TV is crap in Canada anyway) and I would try to go without a car for the first year or so (do swap your licence though). We had no car for the first 3 or 4 years and it made a big difference because insurance is very expensive (and fuel is not cheap, though cheaper than the UK). Car share schemes are very popular here. Suggest looking into MODO. Living near a skytrain station carries a rental premium but makes life much better. We always lived close to transit and only bought the car (which I consider a luxury) once we could afford it.
HSBC are perfectly fine but make sure there is a branch near to where you live (smaller branch network here than in the UK). Insist on seeing the Premier manager and get a credit card as soon as possible. It is the quickest way to build a credit profile. Canada runs on credit cards. Debit is for losers.,
One big issue is if your wife does intend to return to work before your child starts school (which in BC is rising-6) is that childcare is very expensive and very hard to obtain. Rent is high but the landlord pays the council tax equivalent so that's something.
If you do come then make sure to drop by your local community centre for details of mum and baby/dad and baby things. There is so much more emphasis on and provision for these activities than there is in the UK.
RRSP matching is very handy for saving a deposit towards a house but I think you must first file a tax return in order to qualify for the second year. Careful not to over-contribute as you will get stung. Suggest checking whether the contribution can be made to a TFSA instead.
One major caveat:- Do you have substantial savings? I would not do it if I was a paycheque away from disaster. Unexpected costs can arise. Make sure you have a few month' salary stashed away for emergencies as well as expected costs.
To keep costs down, I suggest forgoing cable TV (the TV is crap in Canada anyway) and I would try to go without a car for the first year or so (do swap your licence though). We had no car for the first 3 or 4 years and it made a big difference because insurance is very expensive (and fuel is not cheap, though cheaper than the UK). Car share schemes are very popular here. Suggest looking into MODO. Living near a skytrain station carries a rental premium but makes life much better. We always lived close to transit and only bought the car (which I consider a luxury) once we could afford it.
HSBC are perfectly fine but make sure there is a branch near to where you live (smaller branch network here than in the UK). Insist on seeing the Premier manager and get a credit card as soon as possible. It is the quickest way to build a credit profile. Canada runs on credit cards. Debit is for losers.,
Oct 15th 2019, 9:15 pm
#17
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Joined: Aug 2013
Posts: 267
Re: Opportunity to move to Vancouver - Advice needed.
p.s. the credit history transfer I do not really understand but being a Premier customer has benefits so I would make HSBC my first port of call and see whether the Premier Manager can get you what you need. And that, as stated above, is a credit card with a decent limit on day one. Use it. Pay it off in full every month religiously.
Before you leave the UK, your UK premier manager can set you up with a meeting/some information.
Before you leave the UK, your UK premier manager can set you up with a meeting/some information.
Last edited by tweed_wearer; Oct 15th 2019 at 9:17 pm. Reason: add further info
Oct 15th 2019, 9:34 pm
#18
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Joined: Aug 2013
Posts: 267
Re: Opportunity to move to Vancouver - Advice needed.
pps: buying a car. If you decide to buy a car I would buy a used car. Japanese/Korean and very boring. Make sure it runs on standard gasoline and does not require high octane (as most European cars do). German cars are a luxury and are expensive to fix. German car parts are shockingly expensive.
Insist on seeing the Carfax (or whatever it is called) report and look for any collisions. Post-collision repair roadworthiness certificates are very easy to obtain and are no guarantee of safety and there is no MOT requirement so a lot of people are driving deathtraps without knowing it. Try to get a car that has only ever been registered in BC as elsewhere they use a lot of salt on the roads which shortens the life of the car. Do't be duped into paying a DOC fee at the dealership. They use a lot of pressure tactics here so beware. VAT is payable on new and used cars. Ask the dealer for a full "out the door" price on paper and do not be pushed into anything.
Insist on seeing the Carfax (or whatever it is called) report and look for any collisions. Post-collision repair roadworthiness certificates are very easy to obtain and are no guarantee of safety and there is no MOT requirement so a lot of people are driving deathtraps without knowing it. Try to get a car that has only ever been registered in BC as elsewhere they use a lot of salt on the roads which shortens the life of the car. Do't be duped into paying a DOC fee at the dealership. They use a lot of pressure tactics here so beware. VAT is payable on new and used cars. Ask the dealer for a full "out the door" price on paper and do not be pushed into anything.
Oct 15th 2019, 11:02 pm
#19
Bex in the city
Joined: Jun 2013
Location: Vancouver, BC
Posts: 3,899
Re: Opportunity to move to Vancouver - Advice needed.
$115k salary in Vancouver with a young child - I wouldn’t do it!
We (no children) have a joint income of $125K (possibly that will get up to $175k depending on how good my partners commission cheque next year - trust me he works long hours to get it).
Even that doesn’t feel like enough sometimes although we do live downtown and he owns the apartment.
We (no children) have a joint income of $125K (possibly that will get up to $175k depending on how good my partners commission cheque next year - trust me he works long hours to get it).
Even that doesn’t feel like enough sometimes although we do live downtown and he owns the apartment.
Oct 16th 2019, 4:16 am
#20
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Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: Opportunity to move to Vancouver - Advice needed.
If you have property in the UK you might want to read our wiki - there are tax implications if you rent it out - and if you sell after moving to Canada: https://britishexpats.com/wiki/When_to_sell_UK_house
Additionally - be aware of the pitfalls of being a Provincial Nominee (paper based) - if the job goes for any reason, so could your nomination if you haven't been approved for PR by then. https://www.welcomebc.ca/Immigrate-t...PNP-Tech-Pilot
Do also make sure that YOU are aware of the steps to obtain PR, don't rely just on the in-house immigration team (do check that they are either lawyers in good standing with the BC Law Society or else are Certified Immigration Consultants.
Additionally - be aware of the pitfalls of being a Provincial Nominee (paper based) - if the job goes for any reason, so could your nomination if you haven't been approved for PR by then. https://www.welcomebc.ca/Immigrate-t...PNP-Tech-Pilot
Do also make sure that YOU are aware of the steps to obtain PR, don't rely just on the in-house immigration team (do check that they are either lawyers in good standing with the BC Law Society or else are Certified Immigration Consultants.
Last edited by Siouxie; Oct 16th 2019 at 4:18 am.
Oct 16th 2019, 3:40 pm
#21
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Location: Vancouver, Canada
Posts: 116
Re: Opportunity to move to Vancouver - Advice needed.
I earn more than you've been offered and live in Vancouver; I have a partner and a son less than one. We live in an apartment with a relatively small mortgage. I would say if you want a 2-3 bedroom house on $115k you're going to be travelling more than 40-50 minutes for it. Also, what kind of hobbies do you have? I don't find it a struggle as we enjoy the outdoors, cook all our own food and drive an older car. If you are not willing to compromise you will find it a struggle. As others have stated, a $5k moving allowance is nothing. I spent more like 10k GBP getting setup in Vancouver and that was only me and my flight was paid for by my company. That being said, moving to Vancouver was the best thing I ever did. If you will take full advantage of the lifestyle here it is a wonderful place to live.
Oct 16th 2019, 4:00 pm
#22
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Re: Opportunity to move to Vancouver - Advice needed.
6. I’ve heard BC Car insurance is somewhat extortionate. If we can prove our no claims, what “finger in the air” price per month should we expect?
You will need to import your insurance history. You're looking at probably $100-$200 a month for basic insurance from ICBC, plus comprehensive which can be from ICBC or a third party, usually around another $50-$100 a month. So expect around $200 a month total per vehicle depending on your experience level.
You will need to import your insurance history. You're looking at probably $100-$200 a month for basic insurance from ICBC, plus comprehensive which can be from ICBC or a third party, usually around another $50-$100 a month. So expect around $200 a month total per vehicle depending on your experience level.
Oct 16th 2019, 4:12 pm
#23
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Re: Opportunity to move to Vancouver - Advice needed.
PS I think it’s doable if you do compromise and forget about owning a house in the short term unless you are able to bring over a large amount of equity from UK.
Oct 16th 2019, 6:02 pm
#24
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Re: Opportunity to move to Vancouver - Advice needed.
You can take a look at finger-in-the-air prices for basic insurance at https://change.icbcbusiness.com/tool/. As an example with my details, I pay $700 for basic insurance, but if I change the location to Greater Vancouver, that rises to $1175 (both of these are before addons like fully comprehensive) - For what it's worth, I just asked comparethemarket to give me insurance as close as I could to ICBC basic in London (£2,090) and Bristol (£1300) for a similar driver & coverage, both of which make any ICBC figure look cheap.
Oct 16th 2019, 9:24 pm
#25
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Re: Opportunity to move to Vancouver - Advice needed.
Car insurance anywhere depends on factors like your age and location and vehicle use. I suspect the perception of 'it's expensive' comes from most emigrants moving to major cities, which always means higher premiums (I'd already had that shock, with a vehicle in central Bristol, and am delighted with ICBC's prices).
You can take a look at finger-in-the-air prices for basic insurance at https://change.icbcbusiness.com/tool/. As an example with my details, I pay $700 for basic insurance, but if I change the location to Greater Vancouver, that rises to $1175 (both of these are before addons like fully comprehensive) - For what it's worth, I just asked comparethemarket to give me insurance as close as I could to ICBC basic in London (£2,090) and Bristol (£1300) for a similar driver & coverage, both of which make any ICBC figure look cheap.
You can take a look at finger-in-the-air prices for basic insurance at https://change.icbcbusiness.com/tool/. As an example with my details, I pay $700 for basic insurance, but if I change the location to Greater Vancouver, that rises to $1175 (both of these are before addons like fully comprehensive) - For what it's worth, I just asked comparethemarket to give me insurance as close as I could to ICBC basic in London (£2,090) and Bristol (£1300) for a similar driver & coverage, both of which make any ICBC figure look cheap.
You may be delighted with your car insurance prices, but most on the forum are gobsmacked by the huge increase, you are sadly not typical.
Oct 16th 2019, 9:29 pm
#26
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Re: Opportunity to move to Vancouver - Advice needed.
I don’t think it’s a location thing in the UK so much as age. You’re a young whippersnapper which will presumably account for the £2k a year figure for insurance in London (although seriously that’s ridiculous - is it for a Ferrari with 0 yrs no claims?!). Those of us a little more mature with years of no claims don’t pay anywhere near that even in a city.
You may be delighted with your car insurance prices, but most on the forum are gobsmacked by the huge increase, you are sadly not typical.
Amazingly, I don't think $700 (about 400 quid) is an unreasonable price for a year of basic insurance (unlike the, as you say, ludicrous British prices). When OP says they've heard BC insurance is 'extortionate', actual data is helpful.
Oct 16th 2019, 9:39 pm
#27
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Re: Opportunity to move to Vancouver - Advice needed.
Ours in Vancouver for a Mazda 2. Ages 39 and 40, with 21 and 23 years driving experience, no claims, accidents or tickets, with maximum discount (we are still under the old rate system as our renewal is in April and the new system didn't start until September.) is $1,800 per year for full coverage and $1 million liability.
Oct 16th 2019, 9:41 pm
#28
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Re: Opportunity to move to Vancouver - Advice needed.
Location certainly plays a role (hence the London price being twice the Bristol price). Both of those were for a midsize SUV that I found on autotrader for 5k with 12 years no claims (an effort to replicate my midsize truck) . I know you've claimed before that middle aged women pay less ('whippersnapper' hah!), but that was why I gave a source for both figures. You're free to use the ICBC calculator linked to, and see what you'd pay in various locations around BC.
Amazingly, I don't think $700 (about 400 quid) is an unreasonable price for a year of basic insurance (unlike the, as you say, ludicrous British prices). When OP says they've heard BC insurance is 'extortionate', actual data is helpful.
Amazingly, I don't think $700 (about 400 quid) is an unreasonable price for a year of basic insurance (unlike the, as you say, ludicrous British prices). When OP says they've heard BC insurance is 'extortionate', actual data is helpful.
Out of interest, I was so gobsmacked by your London insurance price that I just went on to confused.com and did the same thing. Mid range SUV, 10 yrs old, parked on street in central London, 15,000 miles a year. With my details (age, job etc, although I did put 12 years no claims as that was what you used) it was a quarter of your quote.
Oct 17th 2019, 7:43 am
#29
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Re: Opportunity to move to Vancouver - Advice needed.
I am in Vancouver and in your position I would do it, yes.
One big issue is if your wife does intend to return to work before your child starts school (which in BC is rising-6) is that childcare is very expensive and very hard to obtain. Rent is high but the landlord pays the council tax equivalent so that's something.
If you do come then make sure to drop by your local community centre for details of mum and baby/dad and baby things. There is so much more emphasis on and provision for these activities than there is in the UK.
RRSP matching is very handy for saving a deposit towards a house but I think you must first file a tax return in order to qualify for the second year. Careful not to over-contribute as you will get stung. Suggest checking whether the contribution can be made to a TFSA instead.
One major caveat:- Do you have substantial savings? I would not do it if I was a paycheque away from disaster. Unexpected costs can arise. Make sure you have a few month' salary stashed away for emergencies as well as expected costs.
To keep costs down, I suggest forgoing cable TV (the TV is crap in Canada anyway) and I would try to go without a car for the first year or so (do swap your licence though). We had no car for the first 3 or 4 years and it made a big difference because insurance is very expensive (and fuel is not cheap, though cheaper than the UK). Car share schemes are very popular here. Suggest looking into MODO. Living near a skytrain station carries a rental premium but makes life much better. We always lived close to transit and only bought the car (which I consider a luxury) once we could afford it.
HSBC are perfectly fine but make sure there is a branch near to where you live (smaller branch network here than in the UK). Insist on seeing the Premier manager and get a credit card as soon as possible. It is the quickest way to build a credit profile. Canada runs on credit cards. Debit is for losers.,
One big issue is if your wife does intend to return to work before your child starts school (which in BC is rising-6) is that childcare is very expensive and very hard to obtain. Rent is high but the landlord pays the council tax equivalent so that's something.
If you do come then make sure to drop by your local community centre for details of mum and baby/dad and baby things. There is so much more emphasis on and provision for these activities than there is in the UK.
RRSP matching is very handy for saving a deposit towards a house but I think you must first file a tax return in order to qualify for the second year. Careful not to over-contribute as you will get stung. Suggest checking whether the contribution can be made to a TFSA instead.
One major caveat:- Do you have substantial savings? I would not do it if I was a paycheque away from disaster. Unexpected costs can arise. Make sure you have a few month' salary stashed away for emergencies as well as expected costs.
To keep costs down, I suggest forgoing cable TV (the TV is crap in Canada anyway) and I would try to go without a car for the first year or so (do swap your licence though). We had no car for the first 3 or 4 years and it made a big difference because insurance is very expensive (and fuel is not cheap, though cheaper than the UK). Car share schemes are very popular here. Suggest looking into MODO. Living near a skytrain station carries a rental premium but makes life much better. We always lived close to transit and only bought the car (which I consider a luxury) once we could afford it.
HSBC are perfectly fine but make sure there is a branch near to where you live (smaller branch network here than in the UK). Insist on seeing the Premier manager and get a credit card as soon as possible. It is the quickest way to build a credit profile. Canada runs on credit cards. Debit is for losers.,
Thanks for all of your advice.
I will reach out to my Premier manager and see what they can help with.
We don't have a particularly large sum to bring with us. After we clear out debts, we should have circa £35-£45k depending on how much over time I put in prior to the move. We wouldn’t be looking to purchase a house until PR has come through.
Oct 17th 2019, 7:59 am
#30
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Re: Opportunity to move to Vancouver - Advice needed.
Is that on top of the money for relocating? You'll spend most of that just on the move so it won't leave much for a downpayment on a house if it's not.