How Much $$$ Does It Take To Live In Calgary? - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Scorponok · 05-08-2006, 12:20 PM

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.

JiriHrdina · 05-08-2006, 12:23 PM

You should be able to live on 40K if you can budget well.

Depends on whether or not you have kids though.

REDVAN · 05-08-2006, 12:31 PM

That's if you have a car and house already though...

Scorponok · 05-08-2006, 12:33 PM

Quote:

Originally Posted by JiriHrdina

You should be able to live on 40K if you can budget well.

Depends on whether or not you have kids though.

We're North Americans, we don't budget, silly.

We like to live paycheck to paycheck.

mykalberta · 05-08-2006, 12:44 PM

40K is more than enough if you already own or are making payments on a car.

It is probably a little low if you want to purchase a place unless you get external assitance (ie parents)

I would say high 40s mid 50s is the optimal range in Calgary if you dont have any kids.

MYK

Aarons13 · 05-08-2006, 12:59 PM

i'm making 45K/year, have a car (cost 800 bucks... hahaah) and bought a house a year ago (for 70K less then they are going for now on my street). I'm living quite comfortable with that, so it can be done. Its not really that bad.

GreenTeaFrapp · 05-08-2006, 01:07 PM

Quote:

Originally Posted by Scorponok

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!

You would be worse off in Vancouver, Toronto or Victoria.

ken0042 · 05-08-2006, 01:25 PM

Quote:

Originally Posted by Scorponok

Making $40K anywhere else.....

The only thing is; the type of job where you'd make $40K here; you'd only make $20-30K elsewhere. My brother in law is always trying to talk me into moving back to Winnipeg; pointing out that with the equity in my current house I could sell it and buy a house there and have no mortgage. The problem is I couldn't make the kind of money that I do here.

Plus, then I'd also be living in Winnipeg.

habernac · 05-08-2006, 01:35 PM

and Winnipeg's housing market isn't exactly cheap. Also, keep in mind their property taxes are double what ours are.

Sylvanfan · 05-08-2006, 01:42 PM

Well if you're just hitting the workforce have nothing to your name, trying to support a family and look to be making that salary for the rest of your life, you're in tough. But you have to consider things like that 350k house could be worth 800k 20 years from now, whereas that 150k house in Winnepeg would be worth 300k type of thing. So there is more oppurtunity to create wealth for yourself in a city like Calgary if you can put up with the higher living costs. Of course the whole oil thing could crash too and screw up everything, but I think thats well beyond my days.

Bring_Back_Shantz · 05-08-2006, 02:07 PM

Quote:

Originally Posted by Sylvanfan

Of course the whole oil thing could crash too and screw up everything, but I think thats well beyond my days.

I'm sure that's what everyone thougth in the 80's Syl.
Ever see that bumper sticker "Dear God. Please give me one more oil boom. I promise I won't **** this one away."

ken0042 · 05-08-2006, 02:15 PM

Quote:

Originally Posted by habernac

and Winnipeg's housing market isn't exactly cheap. Also, keep in mind their property taxes are double what ours are.

Yeah, I just had to go look at MLS again. Found a house in Crestview (comperable to Acadia)- 1500 sq ft with a pool for $180K. I almost have that much equity in my house here right now.

As for the taxes being double; it depends on your perspective. My parents pay about 25% more for their house compared to mine and it's value is about 60% of mine. However the same house here in Calgary would be worth double; so for the quality of house they are paying about the same.

Flames_Gimp · 05-08-2006, 03:00 PM

AISH recipients live on 12,000/year and they get by, somehow..

JiriHrdina · 05-08-2006, 03:36 PM

Quote:

Originally Posted by Flames_Gimp

AISH recipients live on 12,000/year and they get by, somehow..

One of the biggest embarassments of our province. Perhaps the biggest.

rubecube · 05-08-2006, 03:45 PM

Quote:

Originally Posted by JiriHrdina

One of the biggest embarassments of our province. Perhaps the biggest.

Health care is pretty high on that list too, IMO.

rubecube · 05-08-2006, 03:49 PM

Quote:

Originally Posted by fotze

Exactly, they should just keep pumping more and more money into it. Nothing encourages efficiency like an ever-expanding budget.

Encourages as much efficiency as blowing up and shutting down hospitals...

rubecube · 05-08-2006, 04:11 PM

Quote:

Originally Posted by fotze

Especially those with asbestos in every wall.

LOL...alright no more hijacking. We can debate this in another thread I'm sure.

guzzy · 05-09-2006, 01:54 PM

Quote:

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.

guzzy · 05-09-2006, 01:58 PM

Quote:

Originally Posted by fotze

Especially those with asbestos in every wall.

Come on you don't actually expect people here to look at the big picture of things do you?

RedMan12 · 05-09-2006, 02:03 PM

I am making 20k a year in Vancouver

However me and my fiance split the bills, I am gonna get a better job and move back to Alberta. Its cheaper living there. Vancouver has the most expensive housing costs in all of Canada.