How much money do you need to live in Canada?
People move to Canada for many different reasons. They come from all around the world, mostly Europe, but in the past decade, there are more Americans who moved here. If you are thinking about moving to Canada, the first and major factor to consider is the costs of living and calculating how much money do you need to live in Canada for a month or the entire year.
Why people love to live in Canada and why thy move there?
- Job opportunities are in the first place. There are lots of careers opportunities for expats.
- Education for young kids and college students too is great. The education system is excellent, so if you want to move with the family to Canada, do not worry.
- Free basic healthcare for citizens and permanent residents (even if they do not have citizenship, yes!).
- The beauty of Canadian cities will take your breath away. Cities are incredible with a very high standard.
- Canada is in the first place (since 2015) when it comes to personal freedom and human rights.
- Safety and security are on a high level, and that is why this country is the safest place.
- Before learning how much money do you need to live in Canada, you should know that this country is immigrant-friendly. 20 percent of the residents are foreigners.
- Nature in Canada attract not just many tourists, but also, because of Canadian scenery, people want to stay there forever.
- If you are moving from the northern part of the USA, the costs of living in Canada are more affordable. For example, NYC vs Toronto living costs is very different.
How to calculate how much money do you need to live in Canada?
To prepare for a long distance move or (short-distance too), you should know everything in advance. Being organized and prepared means a lot when changing a location, especially the country. This short guide will walk you through the costs of living in Canada.
To calculate better and easier, first, learn what is the value of the Canadian dollars (Canadian currency).
- 66.6 Euro = C$100
- 75.35 U.S. dollars = C$100
- 59.14 British pound = C$100
- 522.36 Chinese Yuan = C$100
- 8180.7 Japanese Yen = C$100
Canadian living costs vary from city to city, it is not the same everywhere. Some of the most expensive cities there are:
We will talk about average prices and living costs across Canada.
Salary in Canada
First of all, to understand better and to create a monthly budget and to know how much money do you need to live in Canada, you should know what are the average incomes. Where you want to settle in Canada? For example, people in Toronto have higher salaries than people in Winnipeg. Product managers (one of the most paid jobs) have an average salary of $69,000 in Toronto, and in Montreal, the salary for the same job is $59,000. The unemployment rate is 5.4.
Housing is the major cost you will have here in Canada. It is not the same if you live in a luxurious apartment and in the ordinary neighborhood.
- The average monthly rent for 900 Sqft (furnished) is about C$1,600.
- Utilities for one month are C$160 for 2 persons. That includes electricity, gas, water, heating, cooling, etc.
- Internet for 1 month is C$54.
Are you going to travel from home to work, or you want to live near your office? A public transportation system is organized, so you should not have a big problem with commuting. A gallon of gas is about C$5.2 (1 liter is about C$1.29). If you will not drive, then a monthly pass for public transport is C$108.
Healthcare is free, yes C$0, no matter where you want to live in Canada. It is one of the major attractions for foreigners, at least they do not have to worry about their health after moving there. Paying taxes will be your only obligation. You cannot apply immediately after moving for this advantage, but after a while, you will have all the conditions for that.
The education system is great. Public schools (for kids up to 18 years) are free, and that is a big advantage and relief. Higher education is not free, but the price is low compared to the USA. But, more expensive than European universities. Many students from all around the world come here, in Canada to work on their education. If you are one of them, Dundas can offer you some great movers that may help you with Canada relocation.
Costs of moving to Canada – hiring movers
Before moving to Canada, you will have costs too. Cost for transportation and collecting all documents and paperwork, including visa. Is it possible to relocate to Canada at low cost, which company to choose? Of course, you want just Number 1 Movers Hamilton Ontario and the best company for Canada relocation.
Your costs will depend on many different factors. The main two factors are – the distance between your current location and city in Canada, and the second main factor is the size and weight of your household items. Other costs are travel fees, paying visa and other required documents, rent for a new home in Canada, etc.
To move to Canada on a tight budget, find an affordable and reliable moving company to transport all your possessions. Calculate all the costs (for before and after moving too) – how much money do you need to go to Canada and also, how much money do you need to live in Canada. Create a budget, save money, try to cut moving costs and try a new life in this incredible country in North America.