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Originally Posted by Scorponok
I was talking to a friend based in another part of Canada, and he makes $40K per year, and lives fairly comfortably.
It made me realize that making $40K per year here in Calgary is really not enough! I mean, the housing, cost of living, insurance prices, etc. means that you are probably richer living almost anywhere else in Canada!
Making $40K anywhere else, you probably can qualify for a mortgage loan because houses are only $100k-$200k, wherelse in Calgary, you won't really find a good family house for less than the average price of $260K (as far as I know the last time I checked.)
It's ridiculous.
So, how much do you need to be making in Calgary to live comfortably, have the normal things people have, i.e. a house, a car, maybe a dog, get your bills paid and put food on the table, but still have a bit left for entertainment. I am guessing it has to be close to $60,000 or $70,000 by now. |
The average detached Calgary home is now above $360,000.
It is getting a bit ridiculous.
You don't have to make that kind of money. It is no different than anywhere else in the sense that if you already have equity you can port it over. If you don't have a home this isn't a good place to start off. Insurance is more than socialist crap holes like Saskatchewan but the overall cost of things other than housing are a wash. Especially when you consider we pay much less tax in Alberta.