# Is Canadian living actually affordable?



## Bella75 (Mar 29, 2010)

Hi, I am new to this Forum but really need some advice!

My husband and I have just started the PR process. He is an Auditor so is applying as a Skilled Worker. We have 2 children (8 & 5) and 2 cats (coming with us).

We ideally would love to live in BC within a 45 min range of Vancouver. I have been looking at house prices and I know BC is expensive but I am struggling to find anything we could afford. We would be looking at housing up to a cost of around 250,000 CAD and would be able to put down approx 70,000 CAD as a deposit. When looking at mortgage rates for a loan this size (using the calculators supplied by the realtors) our mortgage payments appear to be over twice what we pay in the U.K. I have also read that salaries for immigrants are lower than what my husband earns in the U.K so can't imagine how we'd manage.

We have budgeted approx £20,000 to make the move over (moving costs, UK redemption fees etc) but are worried that if we're struggling to pay double our mortgage cost how could we afford to also run a 2 car lifestyle as we do in the U.K and furnish our life in Canada? In the U.K we are not struggling for money, have a good house in a very good area so we are wondering how on earth other people who may not be so financially well off manage to immigrate?

We have also considered Calgary where housing seems cheaper but we would still appear to have much higher mortgage payments and the same issues of affordabliity.

Any advice would be so greatly appreciated.


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## Weebie (Sep 16, 2009)

Bella75 said:


> Hi, I am new to this Forum but really need some advice!
> 
> My husband and I have just started the PR process. He is an Auditor so is applying as a Skilled Worker. We have 2 children (8 & 5) and 2 cats (coming with us).
> 
> ...


The cost of living in the is a lot cheaper than most first world countries. Go to Canada for a new adventure and a chance for soemthing different. If you haev good jobs in the uk you will be worse off though financially.


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## Gotocanada (Feb 25, 2010)

Hi Bella75. Have you tried searching for property on realtor.ca? It lists most properties so you should get a good idea of prices.

We find living in the UK so expensive and can't wait to get to Canada. We are not under an illusion that it is the land of milk and honey, but we will definately be better off there!

Good luck to you!


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## Auld Yin (Mar 10, 2009)

Bella75 said:


> Hi, I am new to this Forum but really need some advice!
> 
> My husband and I have just started the PR process. He is an Auditor so is applying as a Skilled Worker. We have 2 children (8 & 5) and 2 cats (coming with us).
> 
> ...


I'm sorry if I appear to burst your bubble but you won't get much house for $250k within 45 minutes of Vancouver. I do not understand your mortgage comment. You are talking of a $180k mortgage @ what interest rate? If you have an equivalent sterling amount mortgage (£111k approx) then there should not be double difference in payment unless you're being quoted a very high rate here. What rate are you being quoted vs your UK rate? Calgary is certainly cheaper for housing.
You state run a 2 car lifestyle as we do in the U.K and furnish our life in Canada? In the U.K we are not struggling for money, have a good house in a very good area So why are you emigrating to Canada? If you are so concerned about the quality of your lifestyle then I do not understand. There have been many questions and a variety of replies about what amount is required in Canada to support a lifestyle equivalent to that in UK. I would say an annual family income of $90k would be suitable/needed.
Given your comments I believe you should have a total re-think.
.


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## Bella75 (Mar 29, 2010)

Thanks for the info Gotocanada- that's a really great site.

We're definitely heading to Canada with a sense of adventure but I am just struggling to make the numbers add up. Mortgage payments are so much higher in Canada than they are at the moment here and with two children to consider (one of whom is really upset at the thought of going) I want to get this right first time.

We have family living in California and Vancouver seemed like the closest option albeit an expensive one. Does anyone feel there are savings to made in other areas of life (rates, bills etc) that balance out the higher cost of housing and mortgages?

Thanks again for all your help.

Posted at same time as Auld Yin so to expand further:

We have perhaps a unique and some might say selfish reason for moving to Canada. I know I'll probably get slated here but my reasons are important to me so please be gentle. My only living family are located in California and we are currently on an 11 year waiting list with U.S immigration to be sponsored into the U.S. At that time of our lives my children will be mainly independent and unlikely to want to move with us to the States. Having lived in America for part of my life I love the lifestyle and Canada in my eyes shares many of the same values with a few extra's too. Canada allows us to be closer to my family, if we do move on in 11 years I can feel happy leaving my children in Canada if they so choose rather than the U.K, Canada offers the lifestyle we are after- it is not a second choice- it is a joint first choice and a move I am determined to make. We are a young, hardworking family with much to offer but I just want to be certain it is something we can afford and was wondering how other families manage financially.

p.s ( we are being quoted a rate of 6.5%- our rate here is substantially lower. )


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## m field (Jan 27, 2010)

Hi we to are in a similar position to you - although we have not started our application yet. We are going out for a quick trip in May to get a feel for the place. We are a young family with 3 young children and here in the u.k we are financially comfortable,our house is a good size, have 2 vehicles go on holiday twice a year - very lucky compared to many. However my husband runshis own business works a lot of hours and has a lot of stress- most of the time!! This is why we are finding the final decision particularly hard because we know financially our salary is going to be a lot less - certainly for the first few years. But we are moving ultimatley for a more relaxed lifestyle and better opportunities for our children, and of course the great outdoors! We too want to be in B.C but are looking around the Okanagan region. I havn't actually looked at any mortgage rates yet but have looked at house prices and found some great big homes for around $320,000. But i know all this depends on the exchange rate at the time too. Its such a huge decision my eldest child is 8 and ahalf and i really want to be settled somewhere before she starts secondary school. Do you know how long your application is likely to take going down the P.R route?? We was thinking of going on temp work visa - job depending!! to see if we liked it and then apply for P.R whilst in Canada. Apparantley this is much quicker?? But we don't know what to do for the best, don't want to get to 45 and regret it!! 
maria


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