$130k enough to live on in Calgary/Vancouver
Apr 17th 2009, 5:57 pm
#61
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Re: $130k enough to live on in Calgary/Vancouver
I agree with Iaink here. The vast majority will struggle not to be comfortable on $130K even if they ski.
I know, I know that Royalty and the like (those unlikely to be seeking advice via a forum such as this) would struggle but, just as most would do OK on 70K pounds in the UK, most would be OK on $130K in either Vancouver or Calgary
Apr 17th 2009, 6:03 pm
#64
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Re: $130k enough to live on in Calgary/Vancouver
Apr 17th 2009, 6:11 pm
#65
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Re: $130k enough to live on in Calgary/Vancouver
Come to Windsor you'll have a mansion with enough left over to buy some dogs to eat the riff raff....
Apr 17th 2009, 6:57 pm
#67
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Re: $130k enough to live on in Calgary/Vancouver
Last year we visited several friends in the UK.
One couple own a 2 bedroom flat in Wapping. Nice building, riverside, GBP1,000,000 in 2004. Another couple own a 4 bedroom detached house on the outer limits of commuting distance to London. They paid about GBP85,000 in 1997.
For the second couple an income of GBP80,000 would be unimaginable riches - they get by (and they get by very nicely) on less than GBP20,000. For the first couple GBP80,000 a year would mean poverty if they hadn't been very lucky with a couple of inheritances.
It is no different in Vancouver. If you want a penthouse in Coal Harbour, or a waterfront house in Point Gray then $130,000 a year won't get the job done. However, it is a lot more than most families earn, even with both parents working.
One couple own a 2 bedroom flat in Wapping. Nice building, riverside, GBP1,000,000 in 2004. Another couple own a 4 bedroom detached house on the outer limits of commuting distance to London. They paid about GBP85,000 in 1997.
For the second couple an income of GBP80,000 would be unimaginable riches - they get by (and they get by very nicely) on less than GBP20,000. For the first couple GBP80,000 a year would mean poverty if they hadn't been very lucky with a couple of inheritances.
It is no different in Vancouver. If you want a penthouse in Coal Harbour, or a waterfront house in Point Gray then $130,000 a year won't get the job done. However, it is a lot more than most families earn, even with both parents working.
Apr 17th 2009, 6:57 pm
#68
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Re: $130k enough to live on in Calgary/Vancouver
I think the general train of thought is, go take a look at MLS, see what kind of house you can get for the money you want to spend. Use the mortgage calculator on there to get an idea for your monthly payment (always use a higher than average rate so you get a worse case scenario payment).
When we were planning on coming out, we split our UK earnings down into percentages - ie we spent x% a month on mortgage, x% on food, x% on bills etc etc and then split the new CAD amount out in the same way, using the same percentages and see what you are left with.
$130k anywhere in CAD is a nice wage.
When we were planning on coming out, we split our UK earnings down into percentages - ie we spent x% a month on mortgage, x% on food, x% on bills etc etc and then split the new CAD amount out in the same way, using the same percentages and see what you are left with.
$130k anywhere in CAD is a nice wage.
Apr 17th 2009, 6:59 pm
#69
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Re: $130k enough to live on in Calgary/Vancouver
Just over half that amount here with a $165k mortgage. It is tight but doable.
Apr 17th 2009, 7:32 pm
#70
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Re: $130k enough to live on in Calgary/Vancouver
I agree with Iaink here. The vast majority will struggle not to be comfortable on $130K even if they ski.
I know, I know that Royalty and the like (those unlikely to be seeking advice via a forum such as this) would struggle but, just as most would do OK on 70K pounds in the UK, most would be OK on $130K in either Vancouver or Calgary
I know, I know that Royalty and the like (those unlikely to be seeking advice via a forum such as this) would struggle but, just as most would do OK on 70K pounds in the UK, most would be OK on $130K in either Vancouver or Calgary
I never said they couldn't live comfortably on it, I was just giving an example of an expensive hobby. Add another one or two of those into the mix - after tax, and the income starts to reduce down. So lifestyle is important.
Actually I quoted IainK because he said 'lifestyle choices are immaterial' on that income. I don't agree.
Last edited by gryphea; Apr 17th 2009 at 7:37 pm.
Apr 17th 2009, 7:32 pm
#71
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Apr 17th 2009, 7:34 pm
#72
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Re: $130k enough to live on in Calgary/Vancouver
Are you saying you really bring up a family of five on $18K?
Apr 17th 2009, 7:34 pm
#73
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Re: $130k enough to live on in Calgary/Vancouver
Just to throw in another thought....................................
what kind of climate and scenery are you wanting?
You can be more 'comfortable' in Calgary perhaps, but would you be happy with a dry climate a 12 hour drive from the nearest coastline? See its not just down to cost of living. I could live cheaper in Saskatoon but I wouldnt want to be so far from the ski hills
Apr 17th 2009, 7:36 pm
#74
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Re: $130k enough to live on in Calgary/Vancouver
LOL
Just to throw in another thought....................................
what kind of climate and scenery are you wanting?
You can be more 'comfortable' in Calgary perhaps, but would you be happy with a dry climate a 12 hour drive from the nearest coastline? See its not just down to cost of living. I could live cheaper in Saskatoon but I wouldnt want to be so far from the ski hills
Just to throw in another thought....................................
what kind of climate and scenery are you wanting?
You can be more 'comfortable' in Calgary perhaps, but would you be happy with a dry climate a 12 hour drive from the nearest coastline? See its not just down to cost of living. I could live cheaper in Saskatoon but I wouldnt want to be so far from the ski hills
Apr 17th 2009, 7:38 pm
#75
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Re: $130k enough to live on in Calgary/Vancouver
If you make 130K, you spend 130K and wonder how anyone can get by on 100K.