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Realistic Opinion of Vancouver Living Costs

Realistic Opinion of Vancouver Living Costs

Old Jun 5th 2023, 9:40 pm
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by christmasoompa
Would it be enough to get a visa? I know nothing about salaries for Construction Managers in Canada, but if it's on the low side than they wouldn't get a LMIA granted anyway, they must be paying you fair market rate for that.
so the LMIA is done, they said the salary was fair and in-line with offer CMs within the organisation with similar experience etc. I must admit I thought I’d be earning more than what’s offered. The offer hasn’t exactly made the decision easy for me unfortunately.
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Old Jun 5th 2023, 10:57 pm
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by Mark109
so the LMIA is done, they said the salary was fair and in-line with offer CMs within the organisation with similar experience etc. I must admit I thought I’d be earning more than what’s offered. The offer hasn’t exactly made the decision easy for me unfortunately.
That does surprise me tbh, it seems low to me too for any kind of role like that. But it must be in line with other jobs if the LMIA was granted.
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Old Jun 6th 2023, 1:28 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by christmasoompa
Not sure if I'm misunderstanding what you're saying, but income from a UK property is taxed in the UK, regardless of where the landlord is. Mortgage interest can't be deducted for UK tax purposes, unless the property is owned by a Ltd company.
Are you sure? I thought there was a tax treaty and only amounts over the personal allowance were subject to a tax claim in the U.K.
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Old Jun 6th 2023, 1:29 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by christmasoompa
That does surprise me tbh, it seems low to me too for any kind of role like that. But it must be in line with other jobs if the LMIA was granted.
Perhaps the company's other employees are in SK or NB, somewhere one could live on that salary.
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Old Jun 6th 2023, 2:03 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by Mark109

Basically I live a fairly comfortable life in the UK but I lived in BC 10 years ago and have always wanted to go back for the long term (property was a lot cheaper then). Now I have a little one I cant be slumming it in house shares nor in a small cramped basement suite...quality of life is paramount and do not want to move and feel I have gone backwards due to finances.

Any advice would be greatly appreciated because I'm going round in circles, the more I research the more I'm freaking my self out.

Thanks
Not in Canada myself now, but the same rules apply everywhere. I think you basically know it's too expensive right now and are maybe hoping for some more positive feedback.
In reality it just is what it is, so you either need a lot more money or would be better off researching other options/locations.
It's the same with locations I enjoyed many years ago, but moving now would mean I'd end up poor (salaries vs cost of living today).

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Old Jun 6th 2023, 2:56 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by tweed_wearer
Are you sure? I thought there was a tax treaty and only amounts over the personal allowance were subject to a tax claim in the U.K.
Yes, only income from a property that's over that amount will be taxed. But if the property is in the UK then it will be taxed in the UK, not Canada, which is what I thought you were suggesting.
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Old Jun 6th 2023, 2:59 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by dbd33
Perhaps the company's other employees are in SK or NB, somewhere one could live on that salary.
For a LMIA the wages are province specific. I've just looked it up and the median wage (on Job Bank, which is the minimum it must be for the LMIA to be granted) in BC is only $38ph which seems crazy low to me.
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Old Jun 6th 2023, 3:16 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by christmasoompa
Yes, only income from a property that's over that amount will be taxed. But if the property is in the UK then it will be taxed in the UK, not Canada, which is what I thought you were suggesting.
so if a property rents for £25k per year, they each pay no U.K. tax on the first £12,570 each. That’s over £25k. Plus The calculation of that threshold is based on profit not income so can deduct letting agents fees, perhaps some wear and tear. Full£25k is taxable in Canada but can deduct mortgage interest in Canada.
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Old Jun 6th 2023, 3:47 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by Mark109
Thanks, I appreciate the honesty. Things like skiing and utilising what BC has to offer is a big deal for me. I don’t want to put my family through the hassle if I can’t afford to do anything.
FWIW the opinion of someone who doesn't live thousands of miles away is that:

* Construction manager covers a multitude of roles. If you are just running a job site $110k is reasonable. Not tops, but reasonable.
* $110k a year is way more than most people earn.
* A single income of $110k will get you by in suburban Metro Vancouver. Not an aspirational expat lifestyle but all of life's needs met.
* $200k + joint income is really good. It will put you in the top 10% of household incomes. Even after childcare costs you will have enough left for what most people consider a good lifestyle.
* Typically, I would say that the cost of living in suburban Metro Vancouver is similar to suburban London.

Two caveats. The first is that this is all very subjective. I can introduce you to a single person who earns over $250k and is always broke and borrowing money off his parents. I can also introduce you to a family of five that live on less than a 1/3rd of that and are happy as happy can be. If you measure quality of life in terms of spending it all depends on how much you want to spend and on what. The second is that you seem to be very concerned about your material standard of living. If that is your motivation I would think carefully. It can take a few years to establish yourself and your new lifestyle.

Last edited by christmasoompa; Jun 6th 2023 at 3:51 am. Reason: Sorry, but let's do it without the insult at another forum member, ta.
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Old Jun 6th 2023, 3:53 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by tweed_wearer
so if a property rents for £25k per year, they each pay no U.K. tax on the first £12,570 each. That’s over £25k. Plus The calculation of that threshold is based on profit not income so can deduct letting agents fees, perhaps some wear and tear.
Yes, absolutely. I think I've just misunderstood what you were saying, you were talking about deducting mortgage interest in Canada, so I thought you meant they'd pay tax on the income in Canada rather than the UK.

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Old Jun 6th 2023, 4:08 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Fair enough, let me rephrase it. A new poster, seeking useful information, should be aware that dbd33 has opinions about Canada and Canadians. Very occasionally, these opinions coincide with facts.
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Old Jun 6th 2023, 5:12 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by JonboyE
Fair enough, let me rephrase it. A new poster, seeking useful information, should be aware that dbd33 has opinions about Canada and Canadians. Very occasionally, these opinions coincide with facts.
Welcome back!

Of course I have opinions about Canada and Canadians, I've been in Canada for yonks and produced a bunch of Canadians. My experience is what it is, YMMV.
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Old Jun 6th 2023, 5:23 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by christmasoompa
For a LMIA the wages are province specific. I've just looked it up and the median wage (on Job Bank, which is the minimum it must be for the LMIA to be granted) in BC is only $38ph which seems crazy low to me.
And to me. I think this is the central problem with Vancouver, the costs are like a big city but the wages like a small town. That's viable if your income comes from remote work, commuting to a big money location like New York or San Francisco, or if you arrived with a big pile of cash. It's like central London in that way but more Chinese than Russian. My daughter argues that it's a viable location for working families but her house cost multiple millions and her husband works in Toronto. I don't think it's a viable location for the ordinary familly where both adults want to be home at night and neither wants to work more than 100 hours a week.
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Old Jun 6th 2023, 6:09 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by dbd33
And to me. I think this is the central problem with Vancouver, the costs are like a big city but the wages like a small town. That's viable if your income comes from remote work, commuting to a big money location like New York or San Francisco, or if you arrived with a big pile of cash. It's like central London in that way but more Chinese than Russian. My daughter argues that it's a viable location for working families but her house cost multiple millions and her husband works in Toronto. I don't think it's a viable location for the ordinary familly where both adults want to be home at night and neither wants to work more than 100 hours a week.
There are over 1 million households in Metro Vancouver. How many of these have parents that work over 100 hours a week each and are not home at night. Perhaps some facts?
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Old Jun 6th 2023, 6:29 am
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Default Re: Realistic Opinion of Vancouver Living Costs

Originally Posted by dbd33
Welcome back!

Of course I have opinions about Canada and Canadians, I've been in Canada for yonks and produced a bunch of Canadians. My experience is what it is, YMMV.
"Opinion" is the sanitized version, after christmasoompa's (not unreasonable) request for decorum.
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