reccie trip...return.
 

Hi folks,

Just back from 5 days exploring Kelowna and speaking to various people and companies. I've returned a little down heartened. earning potential seems a lot less than first discussed, houses seem more expensive.

Trying to figure out ways to make this move more affordable. Based on a family of 4 (2 adults, 2 kids 6 & 3) no debt and a low / average mortgage i can't believe we still need to bring in nearly $8k per month gross. We don't have an extravagant lifestyle, we don't plan to get any vehicles on finance

MORTGAGE approx $1,600.00
ELECTRICITY $80.00
GAS $120.00
PROPERTY TAX $225.00
HOUSE INSURANCE $50.00
BASIC HEALTH CARE $150.00
LIFE INSURANCE $30.00
LIFE INSURANCE $30.00
DIGITAL TV, PHONE &
BROADBAND $150.00
2 X MOBILE PHONES $90.00
GROCERY SHOPPING $1,000.00
CAR INSURANCE $130.00
CAR INSURANCE $130.00
FUEL $400.00
SAVINGS $500.00
CHILDCARE $300.00

TOTAL MONTHLY SPEND $4985.00

EATING OUT / SHOPPING/
ENTERTAINMENT $1000.00

TOTAL $5985.00

TAX AT 25% APPROX $1995.00

GROSS INCOME REQ $7989.00

Am i missing something??? constructive help and advice always appreciated.

Regards,

Slightly disillusioned,

Gav

Re: reccie trip...return.
 

I've put some comments in red, based on my own expenses here in Alberta....

Re: reccie trip...return.
 

Yikes - I was working on these figures (assuming no mortgage/loans etc) and living in Alberta, am I way off the mark:

Food - $800.00
Fuel (cars) - $200.00
Property Tax - $230.00
TV / Phone / Internet - $150.00
Mobile Phone (x2) - $165.00
Car Insurance - $210.00 ($2500 per Year)
AMA - $20.00
Electric - $80.00
Gas - $70.00
Home Insurance - $60.00 ($700 per Year)
Water - $90.00 ($180 per 2 months)

Total $2075

Also isn't health care free?

Re: reccie trip...return.
 

I don't think you're too far out.....but what do i know. Part of our reason for moving out there is to not have to earn that kind of money but i've obviously underestimate a lot!!!.

The houses we're looking at are between 350 - 400k which seem at the lower end to the average house price. Everybody seems to be driving about in 50K 4x4's........where do they get the money??

Does everyone have high flying well paid jobs??

Who know's. Feeling like the closer i get the further it is away!!

Gav

Re: reccie trip...return.
 

It's a hugely subjective area this, but I think that the reality lies somewhere between these figures. $2075 is an after tax figure, not including things likes mortgage/entertainment/savings etc and your figure includes mortgage and large amounts for savings/entertainment.

Also don't forget that income deductions for EI/CPP/Pension/Union etc can take a surprisingly large chunk of your salary over and above income tax.

We're a family of 4 and live in Greater Vancouver (property even more expensive). Based on my experience, I'd say $5-6k pm (gross) would cover the basics to be comfortable, (without expensive holidays/fancy cars/servicing a massive mortgage etc).

The days of moving to Canada, living a cheap life fuelled by a good exchange rate and cheap property are gone I'm afraid - certainly in western canada.

Re: reccie trip...return.
 

Seems about right with your low mortgage payment, even a bit low when holidays/flights back to the UK and retirement investments are taken into account. But if there's two of you working each earning about 80-100k CND this should be done pretty easily.

Re: reccie trip...return.
 

Only the basics. Meds, gadgets, fibreglass casts instead of plaster of Paris, wheelchairs, crutches. Services such as outpatient physio....

An example of life in Canada- It's not unusual to see notices in stores for benefit dinners for people who need funds due to illness. There's one in the local store now for the family of a boy who is now in a coma after an MVA.

Re: reccie trip...return.
 

Hi there -

I just wanted to ask whether you have looked at any different areas of Canada. When we first started looking; we automatically looked at BC. It soon became clear that it would be way out of our price range and that the job opportunities for us (both IT) would be a great deal harder to get then they would be in some other areas of Canada. People we have spoken to since moving here often say that to live in Vancouver, you have either had to have made your money or be earning lots of money…..

We finally decided on Ontario. The cost of living is pretty good; and looking at some of your figures, is almost half of what you have estimated. I am currently volunteering to gain work experience in an elementary school and my hubby has a reasonably well paid IT job, 20 minutes down the road from where we live. We do not have an extravagant lifestyle; but we do love going to the movies and eating out as a family etc. We have one wage, 2 cars and a 5 bedroomed house.

I guess what I am saying is; don't give up on your dream, maybe you just need to 'broaden your horizon' a little? Canada is a huge and diverse country and the differences between provinces are incredible.

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18 years here I have never seen that. Most employers offer decent medical, even Mcjobs.

Re: reccie trip...return.
 

As noted it is subjective but the figures seem about right. I'd say a bit more for medical and as noted, EI and CPP which is about 2700 a year. Things like entertainment costs are very subjective, but if kids are into winter sports, it can get costly fast.

The car insurance is spot on if the full 40 pecent is awarded and the car is around the 17 k mark. We pay about 120 a month on a 2007 acura tsx if that helps.

1600 would be around a 300 k mortgage.

Kelowna is one of the most expensive places for property and a lot of jobs tend to be lower paying service based jobs. I cant say the place does that much for me.

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actually about 50 k each would do it. Which would be around 5 k or so after tax every 4 weeks. Although I would certainly aim higher.

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I think you are being a little pessimistic, but not excessively so. It all depends on what you like to spend money on. I think $70k or so is a get by family income, nearer $100k is getting comfortable.

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Part time workers don't get medical cover and the pay in lieu of benefits is not enough to cover the premiums. Neither of us have medical cover.

Fund raising events are commonplace here. We were taken to one the first week we were here. One village's Lion's club holds monthly fund raisers for individuals. The one we went to was to pay for meds for a hospital worker's child. Another was for the FIL of someone at work, he was dying of lung cancer. No sick pay, no EI. At least two have been for teenagers on life support after MVAs. Another one from our village was for a woman with leukaemia.

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not on contract, which is how lots of people are employed

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I've never heard/seen that here. Sad.