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For e.g., why would someone making $80k at year in Toronto or Seattle with a wife and family on the way move to Vancouver to make $60k with more expensive real estate and other costs, and less opportunity to move up the corporate ranks over time. Vancouver is prettier and offers more a natural setting but it's still a tough pill to swallow from a practical standpoint given the demands of life. I think we have to look at it from this middle class perspective, not the perspective of the working poor like many will always defer to.
I would agree Ontario is a better place to raise a family economically speaking if you are middle class but the reality is the middle class is shrinking and Vancouver is a better deal IMO if you are working class or rich. Taxation is not bad unless you make a lot of money. With that said I find the entire West Coast a ripoff. People like the climate here and this means you have to pay out the nose for just about everything whether you live in BC, Washington, Oregon or California.
this show that Vancouver is more than 20% more expensive:
Moderator cut: link removed, linking to competitor sites is not allowed
Consumer Prices in Portland, OR are 24.28% lower than in Vancouver
Consumer Prices Including Rent in Portland, OR are 23.81% lower than in Vancouver
Rent Prices in Portland, OR are 22.87% lower than in Vancouver
Restaurant Prices in Portland, OR are 19.66% lower than in Vancouver
Groceries Prices in Portland, OR are 32.47% lower than in Vancouver
Local Purchasing Power in Portland, OR is 22.24% higher than in Vancouver
For a single renting person or a young couple I think Vancouver is worth the extra money. I mean would you rather pay $1400/month for a 1bd apartment in Yaletown or $1100/month for one in the Pearl District? For me the answer is easily Yaletown. The West End I like even more and a one bedroom is probably only $1200-$1300 or so there since it's technically not downtown. Still pretty damn expensive but Portland is pretty expensive too and you're getting inferior amenities to what you get in Vancouver.
I mean a couple hundred extra bucks a month rent is fine when you consider how close you are to skiing/snowboarding, near the sea, the city being more vibrant, and the fact you're in Canada and don't have to deal with American political BS.
For a single renting person or a young couple I think Vancouver is worth the extra money. I mean would you rather pay $1400/month for a 1bd apartment in Yaletown or $1100/month for one in the Pearl District? For me the answer is easily Yaletown. The West End I like even more and a one bedroom is probably only $1200-$1300 or so there since it's technically not downtown. Still pretty damn expensive but Portland is pretty expensive too and you're getting inferior amenities to what you get in Vancouver.
I mean a couple hundred extra bucks a month rent is fine when you consider how close you are to skiing/snowboarding, near the sea, the city being more vibrant, and the fact you're in Canada and don't have to deal with American political BS.
Another point that is missed when speaking about real estate prices is taxes and maintenance fees.
Property taxes are cheaper in Vancouver and maintenance fees for condos generally are as well. An example I give is a friend in Toronto who lives in a one bedroom condo in the city centre pays just under $3,000 per year in property taxes, and $550 a month in maintenance ( condo ) fees.
I also live in a one bedroom apartment in Yaletown and pay $700 a year in property taxes and $200 in maintenance fees.
Over a year that is a $6,500 difference. Also I don't have the heat on more than a few times a year, and air-conditioning is not needed for the most part.
For a single renting person or a young couple I think Vancouver is worth the extra money. I mean would you rather pay $1400/month for a 1bd apartment in Yaletown or $1100/month for one in the Pearl District? For me the answer is easily Yaletown. The West End I like even more and a one bedroom is probably only $1200-$1300 or so there since it's technically not downtown. Still pretty damn expensive but Portland is pretty expensive too and you're getting inferior amenities to what you get in Vancouver.
I mean a couple hundred extra bucks a month rent is fine when you consider how close you are to skiing/snowboarding, near the sea, the city being more vibrant, and the fact you're in Canada and don't have to deal with American political BS.
Canada over the US?
Thats hardly a reason to rank one over the other.
No offense to those who live in portland but the city looks like an overrated dump.
If you measure rents only, Vancouver (greater vancouver) is a bargain. Most major cities in north america have a higher rent than Vancouver. Portland is actually very cheap by big city standards in the US if you can even call it a large city.
A one bedroom apartment in the west end can actually be even cheaper than $1200, If you are in the west end far from english bay you can probably rent a one bedroom for as low as $1000.
$1400 for a one bedroom in yaletown will be EXTREMELY hard to find, yaletown is a real estate mecca and none of the buildings are designated rentals, in the west end, 80% of the buildings are rentals and not real estate.
Food prices here are high for SOME commodities like milk and dairy products, but it's actually not that much more different price wise here.
Vancouver is VERY EXPENSIVE to raise a family but for a single person it's cheap.
Depends on your career. The idea that Vancouver's economy is non existent or pathetic is patently ridiculous.
Pathetic but true I'm afraid...
A good chunk of the population (especially young) struggle to make a living or end up in dead end jobs.
There is another significant slice of people that work in overpaid government or pseudo-government entities.
Then you have the port activities.
The private economy in Vancouver is ridiculous considering that it is the 3th city in the country.
One of the few really excellent world class companies up there is Ballard Power Systems.
Low wages and career prospects (or better, the lack of thereof) do not lie.
Last edited by saturno_v; 02-26-2014 at 09:19 PM..
Another point that is missed when speaking about real estate prices is taxes and maintenance fees.
Property taxes are cheaper in Vancouver and maintenance fees for condos generally are as well. An example I give is a friend in Toronto who lives in a one bedroom condo in the city centre pays just under $3,000 per year in property taxes, and $550 a month in maintenance ( condo ) fees.
I also live in a one bedroom apartment in Yaletown and pay $700 a year in property taxes and $200 in maintenance fees.
Over a year that is a $6,500 difference. Also I don't have the heat on more than a few times a year, and air-conditioning is not needed for the most part.
Well, you need to be more specific about these costs.
In terms of maintenance cost, you need to provide both the age and the size of the two buildings. older buildings are more expensive to maintain. Large units charge higher condo fees. You can't compare a 1 year old 500sf unit with a 15 year old 700 sf unit although both are "one bedroom" condos. My 1bedroom condo is about 50 cent/sf (per sf makes more sense). Nowadays condos can be very small (375sf) and older condos have large units (I almost bought a one-bedroom in 2010 which was almost 800sf).
And you are right about property tax. I did some research, and apparently a residential unit valued at 400k carries a tax of $1517 a year in Vancouver and $2983 a year in Toronto. (given the stats you provided, you Toronto friend's condo is probably much larger than yours?)
Well, you need to be more specific about these costs.
In terms of maintenance cost, you need to provide both the age and the size of the two buildings. older buildings are more expensive to maintain. Large units charge higher condo fees. You can't compare a 1 year old 500sf unit with a 15 year old 700 sf unit although both are "one bedroom" condos. My 1bedroom condo is about 50 cent/sf (per sf makes more sense). Nowadays condos can be very small (375sf) and older condos have large units (I almost bought a one-bedroom in 2010 which was almost 800sf).
And you are right about property tax. I did some research, and apparently a residential unit valued at 400k carries a tax of $1517 a year in Vancouver and $2983 a year in Toronto. (given the stats you provided, you Toronto friend's condo is probably much larger than yours?)
Both buildings were built in the mid 1990's. Both have the similar amount of units, but mine is a high-rise and theirs is four storeys.
His condo is slight larger by 60 sq ft.
Condo fees in Toronto are also probably higher due to snow removal. I also noticed a lot more mid-range buildings in Toronto have concierges. Mainly high end buildings in Vancouver have these. That can add costs as well as the property tax on the whole building that has to be paid, that is rolled into the condo fees, as is insurance.
Also that $1517 property tax in Vancouver is ONLY if you don't claim your Homeowners grant. Homeowner grants are deducted immediately. For example, when I get my property tax bill, I simple check the box that for the grant that applies to me. In this case, I'm eligible since I live in the residence and it's my primary residence. It takes me down to just over $700 per year or so.
Other grants for seniors make it even lower. This is a provincial grant.
I was doing the comparisons and actually Portland, Oregon is just as expensive as Vancouver pretty much aside from real estate and groceries. Rent is about the same, eating out is about the same, and if you're poor Canada has lower taxes and comparable to better social supports. www.wilson-roofing.com Vancouver Roofer, Vancouver Roofing,
I also think for what you get, access to the ocean, snowboarding, much better restaurants, more worldliness, Vancouver is a much better deal than Portland or Seattle. Again of course, unless you're buying real estate but if home ownership is not that important to you Vancouver is not that bad.
Yeah its fairly cheap to live in Vancouver if you live within your means...
the cost of living is almost equivalent to living anywhere else in British Columbia if your not planning on buying a house and living within your means.
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