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Salary for comfortable lifestyle in Vancouver

Salary for comfortable lifestyle in Vancouver

Old Jul 6th 2016, 12:45 pm
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Question Salary for comfortable lifestyle in Vancouver

Hi all,

My partner and I are (considering) relocating to Vancouver. He already has job offer but I would start my job search upon arrival.

We are interested to know what combined salary we should have to enjoy a comfortable lifestyle in Vancouver: eating out a few times a week, skiing in the winter, owning a car, renting in the city.

We would love to hear thoughts from people on the ground!

Thanks in advance!
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Old Jul 6th 2016, 1:58 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

I would have a search through some of the older posts on the forum but be warned these questions are very hard to answer as they are so subjective. By sound of it though you have a reasonably expensive lifestyle (skiing, eating out twice a week etc.) so you should probably bargain on 150,000+.

Rents are very expensive in Vancouver, due to sky high property prices (for a 1 bed condo in downtown core you will be lucky to find anything south of $2000 a month. I don't own a car but you should be warned insurance is much more expensive than you are likely used to in the UK.
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Old Jul 6th 2016, 2:26 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

$200,000
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Old Jul 6th 2016, 2:50 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

The answer is going to be critically dependant on what sort of home you want to rent and the quality of the neighbourhood. The difference could easily be $100,000 of gross income.
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Old Jul 6th 2016, 2:55 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Apartment 1 or 2 rooms, doesn't have to be super fancy, not in a 'bad' neighbourhood, fairly central (no long commutes to the centre)
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Old Jul 6th 2016, 2:56 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Many thanks for the replies!
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Old Jul 7th 2016, 1:21 am
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Default Re: Salary for comfortable lifestyle in Vancouver

Hi
Well with those salary figures mentioned I should in theory be homeless and unable to run vehicles or go on holiday, not living comfortably
cheers
jerry
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Old Jul 7th 2016, 1:55 am
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Default Re: Salary for comfortable lifestyle in Vancouver

Originally Posted by jerry brewer
Hi
Well with those salary figures mentioned I should in theory be homeless and unable to run vehicles or go on holiday, not living comfortably
cheers
jerry
There is a massive difference between the income required to support your lifestyle if you are long-established, especially if you are an owner-occupier, compared to being a new arrival.

I was lucky enough to contract to buy my first home in London just before the boom started in the mid 90's. In the six weeks between my offer being accepted and closing, the market price where I bought rose 20%. In the following five years the price went up two and a half times, but I was locked in at the monthly mortgage amount on the day I closed.

Not only would my life have been a lot less comfortable in the following years had I not bought when I did, in fact I could not have afforded to buy at the market price on the day I closed (bought), nor at the market price on the day I sold, nor, in fact, at any point in between!
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Old Jul 7th 2016, 3:36 am
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Default Re: Salary for comfortable lifestyle in Vancouver

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Old Jul 7th 2016, 4:18 am
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Default Re: Salary for comfortable lifestyle in Vancouver

Driving into centre of Vancouver to work means very high parking costs, and often difficulty in finding parkades.

Until I developed difficulty in walking, we didn't even take the car into downtown to go shopping, or on many evenings out. We rode the bus or took SkyTrain, or a cab.

Dining out a few times a week depends on what TYPE of dining you expect to patronise ............ again, could be much more expensive that you are used to.


I think the figures of $150,000 to $200,000 already quoted are not too far out of line for what you seem to be expecting to do ................ and I daren't even think of how much you will have to bring with you in order to start your life here in the manner in which you intend to continue. Possibly as much as twice the amount usually suggested.
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Old Jul 7th 2016, 12:06 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Lots.

https://www.theguardian.com/cities/2...itish-columbia
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Old Jul 7th 2016, 3:24 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Of course, you can get by on waaaaay less than $150,000 pa. It is really a matter of whether or not you want to.
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Old Jul 7th 2016, 8:16 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Originally Posted by JonboyE
Of course, you can get by on waaaaay less than $150,000 pa. It is really a matter of whether or not you want to.
That would seriously limit ones selection of toys though.
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Old Jul 7th 2016, 8:28 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Looking through some of the replies, the rental property market in Vancouver, average cost of goods & services for a couple with average lifestyle, its going to be expensive.

Net monthly income not less than $5k/mth take home pay would be my target if you are renting, then thats likely on the low side

Use the 'take home pay' calculator from the Canadian tax folks

Payroll Deductions Online Calculator

Working the numbers from net pay

Cost of Living in Vancouver. Prices Updated Jul 2016
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Old Jul 7th 2016, 8:32 pm
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Default Re: Salary for comfortable lifestyle in Vancouver

Originally Posted by not2old
Looking through some of the replies, the rental property market in Vancouver, average cost of goods & services for a couple with average lifestyle, its going to be expensive.

Net monthly income not less than $5k/mth take home pay would be my target if you are renting, then thats likely on the low side

Use the 'take home pay' calculator from the Canadian tax folks

Payroll Deductions Online Calculator

Working the numbers from net pay

Cost of Living in Vancouver. Prices Updated Jul 2016
Id take those prices with a grain of salt many look a long way off. For example $1500 a month rent for 1 bed condo in city centre, not a chance.
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