Is CAD$50,000/annum enough for a family of three in vancouver,bc??

Question

we would not live downtown, we will rent and will pay for utilities.

Answer 1

Don't move to downtown, as it's kind of pricey. Move to white rock/south surrey, the houses are pretty cheap, and depending on where youu are, you're close to the beach! It's beautiful!

Answer 2

It would be very tough living in the Vancouver area on that income, we lived in the Okanagan area on that income back in the mid 90's and couldn't afford to buy a home. We moved to New Brunswick and haven't looked back since. Good luck.

P.S.

You are asking for a rundown? To rent a house will cost you say $1200. a month minimum, more if it has a finished basement for you to rent out. Power, phone, heating would easily be another $250.00 per month. Groceries for a family of 3 will run you at least another $500.00 per month. Start adding gas for your vehicle or bus passes, car insurance and you'll be looking at another $500.00 per month. That's somewhere around $2500.00 per month minimum times 12 months and you are in the $30,000.00 range and that is without any emergencies or recreation. Hope this helps you and if there are taxes off the the wage you speak of, you won't have much left after these expenses and this is without clothes, any luxuries. Vancouver is expensive and I may even be low in these numbers.

Answer 3

Is that $50,000/annum net or gross?   Your rent would eat up most of that $50,000 especially if you are renting a house.    It is expensive to live in Vancouver.  I would be checking the rental listings in the different areas of Vancouver before moving to find out just how much of your income would go to living expenses.  Then you can calculate how much money you would need for your family to get buy.    

Answer 4

um .. no... not for a family... not comfortably