Canada is one such country that offers oodles of amenities, be it attractive tourist destinations, accomplished business opportunities, diverse study courses and world class institutions. But the Cost of Living in Canada must be considered well before you apply for Canada Permanent Visa. However, the Cost of Living in Canada factor is entirely opposite!
People migrating from other countries find the Cost of Living in Canada correspondingly low as compared to their native lands. They, in accordance with their needs and preference levels, can go for deluxe and luxurious houses or a moderate apartment, in harmony with their financial conditions. Canada has plenty to offer to everyone.
A person who is planning to live in Canada is expected to spend 35% to 60% of his total income on housing. This cost also includes the expenditure on general utilities like power, telephone, water, etc. Going for the option of a rented house may cost you somewhere between $300 up to $2500 a month, calculating on the size of the chosen apartment. Small cities, in addition, offer less expensive options for your housing concerns.
Moreover, places like Toronto, Vancouver, Calgary or Montreal are decked with high cost of living, but when the same is compared with other developed countries, the Cost of Living in Canada is quite less. Therefore, people coming from other countries often sell their houses at higher prices and when they immigrate to Canada, they buy houses at a modest range and save a lot of money in return.
Above all, people interested in taking loans can avail mortgage loans that are offered by almost all the banks and financial institutions. As Canadian housing is quite modest, people find the option of buying a house in Canada pretty beneficial.
Food prices are generally low as compared to Western Europe. There are two options. Either go for a home-made food, which would cost less, or plan to eat outside in a restaurant that might cost you a fortune. Choice is yours! All-in-all, you can expect to spend one-eighth of your total income on the food products. Further, items like alcohol and cigarettes are heavily taxed and hence come under the label of “expensive” food items.
Public Transportation: Not every one can afford to own a person vehicle. Depending on the distances you are traveling, you can choose your mode of transportation. For local distances, you can opt for subways, buses, taxis etc. Those interested in intercity travel can choose planes, trains or coaches in accordance to their Cup-of-Tea.
Private Transportation: A lot of Canadian families own cars. As an owner, you must have ample bank-balance/regular income to support your car maintenance. Some of these include the overall maintenance of the vehicle, loan payments, insurance, and gas and so on. Car insurance can be expensive, but at the same time, it is critical to have one in your kitty.
Students find Canada as a distinguished destination to study. The world-class Canadian Universities are cheapest among other countries. Low tuition fee, world-known institutions and a diverse range of options are its prominent facets when considering Canada as a wonderful study destination. Students at postgraduate level are offered “The Commonwealth Scholarship,” which is limited to the deserving candidates.
Canada is decked with plenty of options as far as ‘Clothing’ is concerned. Depending upon your choice, the clothing expenses may range somewhere between 5% up to 10% of your total income. You can also go with the option of re-sales shops that are filled with plenty of used clothing or a branded showroom that would increase the Cost of Living in Canada to a major extent.
The cost of electricity in Canada increases with respect to the increase in its demand. But the prices are comparatively moderate when compared to other developed countries.
Consider those expenses that do not need to be paid on a regular basis, but have their own importance. For example, a medical bill, school fee, health insurance and other such expenses require immediate attention. Therefore it becomes mandatory to save a certain portion of the income for such unexpected expenses.
Having low cost of living in Canada should not be confused with lower facilities. Canada is one of the richest countries in the world, which means that the per-capita income is highly decent, so are the amenities provided to the nationals. All in all, a decent place to live, work and study. Hire an immigration consultant today and get an understanding of the know-how related with its immigration procedure.