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I don't make $150,000 a year


whytelight

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Depends what you want.

 

If you want the best of BC on a budget, go live up north. Get a 4 bed 2 bath split house for mid300s with a nice yard, pocket the savings and then bugger off in the winter somewhere warm. Get the cheap fun close to your door... and get out when the cold days come.

 

It's pretty enchanting having the midnight sun parties though.

 

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4 hours ago, -AJ- said:

My rent for 800 square feet basement suite is $1100 including everything (utilities, internet, etc.). I make less than a third of $150k a year, but I'm also extremely frugal, so I don't have high monetary requirements. I find that I'm plenty comfortable, but I'm also a single man, which makes a big difference. Supporting a family is a very different story.

So honest question, if you make less than 50k a year why deal with all of that?

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Just now, Ryan Strome said:

The commute, mileage on your vehicle, traffic, etc. 50k isn't worth that imo.

Ah, well I originally moved for a job that I had in Langley that was only 12 minutes away in bad traffic. I've since had to find another job and a temporary Vancouver one fell into my lap. I'd agree with you, which is why I'm looking for more permanent work that's much closer.

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1 minute ago, -AJ- said:

Ah, well I originally moved for a job that I had in Langley that was only 12 minutes away in bad traffic. I've since had to find another job and a temporary Vancouver one fell into my lap. I'd agree with you, which is why I'm looking for more permanent work that's much closer.

Fair enough. Circumstances.

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2 hours ago, mpt said:

People expect to live in a detached house in Vancouver with 3+ bedrooms, if you want to live in a major city, get used to condo living, you can still find reasonably priced condos in the city. You just cant expect property in one of the nicest cities in the world unless you are prepared to pay for it; just like every major city.

No you can't.  What's reasonably priced?  $2000 a month? Condo's are too much in Van.  People with regular incomes can't afford to start in a $1,000,000 condo which is pretty average in Van these days.  

 

Fwiw, $1 M condo with 20% down  @ 4% means 4,200 a month.  Not considering strata fees etc, if your income should be 1/3 of your household income, this works out to a family income of 12,600 a month or, 151 a year.  That's $75 and hour combined for you and your wife assuming 40 hrs a week.  Most young people with education are looking at 20-30 and hour these days.  

 

That's if you happen to have $200k in the bank to get yourself started

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13 minutes ago, Ryan Strome said:

@-AJ-

My point is you can live happier in other places. That pay is hardly worth keeping you there.

Good point. I know a family who live in Vancouver and they're both working professionals living in a town house that would cost as much as a mansion anywhere else in BC... 

 

 

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1 hour ago, -AJ- said:

My best friend thinks the best idea is to move out to Chilliwack. Nice and quiet, but big enough for all your basic needs and close enough to Abbotsford if you need a larger city.

LOL.  Don't consider Abby to be sophisticated or urbane if that's what you mean.  There is a Hudson's Bay Store here if that's what floats your boat but inventory is limited.   They say that dining here is pretty good but as and ex-Van chef, the jury is out.  If you try out Abby, don't give up your $&!#kickers.  

 

Seriously, Chilli is nicer than Abby but it's 30-some K further out

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1 minute ago, Crabcakes said:

LOL.  Don't consider Abby to be sophisticated or urbane if that's what you mean.  There is a Hudson's Bay Store here if that's what floats your boat but inventory is limited.   They say that dining here is pretty good but as and ex-Van chef, the jury is out.  If you try out Abby, don't give up your $&!#kickers.  

 

Seriously, Chilli is nicer than Abby but it's 30-some K further out

It's not sophisticated at all, but it at least has all the amenities you could need. Chilliwack might be short of a few, given it's about half the population of Abbotsford. Whenever I go there it seems like a lot of farms and not much else.

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1 minute ago, -AJ- said:

It's not sophisticated at all, but it at least has all the amenities you could need. Chilliwack might be short of a few, given it's about half the population of Abbotsford. Whenever I go there it seems like a lot of farms and not much else.

It's not bad in that respect to be sure.  Myself, I like a town with a Golf Town store.  :lol: So I look to Langley.  I'm an ex-urb having lived in Van for 20 years and  and New West for 10 before moving further out.  The best part?  Having disposable income again and not being a slave to my domicile.  It's really a load off my mind honestly.

 

Cheers.

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2 hours ago, -AJ- said:

My best friend thinks the best idea is to move out to Chilliwack. Nice and quiet, but big enough for all your basic needs and close enough to Abbotsford if you need a larger city.

 

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I know nothing about Vancouver's cost of living given that I'm from the island. 

 

But I've travelled a lot... currently living in Madrid (que tal chicos) ... and what I can say is DON'T TAKE VANCOUVER FOR GRANTED. 

 

There isn't a city like it in North America and very few in the world that match its style and surrounding nature. 

 

You just have to put up with some gloomy months of rain - but when you've been through winters in Ontario that isn't too much to ask. 

 

... there's just so much to love about that city

 

 

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My wife and I lived in Vancouver up until 12 years ago. We both had decent full-time jobs, and had a condo a block from the beach in Kitsilano for only half of what rent there costs today. But we still found it a chore to afford to live there, so we moved to Calgary, and haven't looked back. Bought a house, had kids, and can live and even save fairly comfortably. And there are mountains and lakes and camping here too. 

 

Not too long ago, my parents sold their suddenly highly valued place in the Fraser Valley, and moved out here as well. With the money, they bought a gorgeous house in a new/nice area. I wasn't sure how it would go, as my mom had lived in the Fraser Valley her entire life. But they absolutely love it here, and have no desire to go back either. They can't imagine leaving the near-constant sun now. And they were surprised how many nice camping areas there are so close to the city - in the summer they often take the RV out for a few days just to try out a new place.

 

I get why people like Vancouver so much. But if you're struggling, and have always lived in that area, my recommendation is to be open to trying new things. You might be surprised how much you like it.

 

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12 hours ago, wiseupsucker said:

Single income guy(have a squeeze but our incomes are separate). Make around 150k a year in trades and found lower mainland was too much for me. 2 years ago bought a nice townhouse in chilliwack for less than a surrey condo and never looked back. Basically living in the mountains but still close(ish) to the city has been a blast. Just bought a quad and stoked for a good summer. So much good stuff so close by::D

I love living in Chilliwack, outside of when they spray the fields for a day or so its great.  Nice mountains, way less concrete and most definately less people (which I like, can't stand busy Vancouver).

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The way I see it.

I will never live in another country. So, even though there are some great places around the world...they don't interest me. 

There are really nice places across this country...BC is the best in my opinion.

So, Vancouver is the best city, in the best province, in the best country in the world. 

 

A lot of folk around the world agree. I've spent quite a bit of time in a lot of major cities. In the last 20 years people talk about Van more and more. 2010 really put us on the map. Its desirable and that add's to the increasing costs. 

 

Vancouver has it's warts, no doubt. But it also has some really desirable elements. To each their own. 

 

Almost everywhere in BC is awesome and it's all getting more expensive . But you don't need to live in Van to experience the awesomeness that is BC. 

I love this city, but cannot wait to move back to the Island after 25 years to a place I love even more, the mighty Vancouver Island!

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15 hours ago, whytelight said:

Hello from Manitoba:

 

How do you afford to live in the Lower Mainland?  I'm a full time teacher here and 1/4 of my net income goes to put a roof over my head (mortgage, fees, interest, heat/water, insurance).

 

How do people working normal jobs like teachers, nurses, clerks, mechanics, tellers, etc afford to live?  I've read that rents are $2000+ a month and shack in Whalley is $750,000...my math says that a mortgage on that would be $3000 a month.  If a roof over your head takes up 65% of your net income, how do you eat, drive, save for the future, and live?

 

Does everyone in the Lower Mainland make a minimum of $150,000 a year?  What am I missing?

 

First of all, you should try going to Whalley before calling it a shack. It's not the 90s anymore. That part of town is actually quite nice now after they put city hall, the city library and the new hotels there. Much nicer and safer walking at central city than in Newton. 

 

Second point: you prioritize and live within your means. For me, I want to drive a nice car and have nice interior stuff in my house (big tv theater system, cool tech stuff, nice home office, etc) - location doesn't matter to me as much. So my fiancee and I bought townhouse in walnut grove and our mortgage is under $2200.

 

I also work 10 minutes away from work and she works 35 - both very reasonable commutes. 

 

But I have friends and colleagues who work where I work, but live in Vancouver. To them, the city lifestyle is more important (right now) even though we're both in our late 20s. So they drive crappier cars and don't have much in their tiny apartments they rent, BUT they also don't spend much time at their homes. They're always up on the mountains or out for runs or part of clubs and events in the city. 

 

We're both equally as happy living different styles of lifestyles. For me I can hop on highway 1 in 2 minutes from my driveway and be parked on Richards and Georgia in 35 minutes if there's no accidents and its not 8am on a weekday. This allows me to join my friends for our urban rec league games, go for dinners, and take advantage of the North van mountains. 

 

 

And no, I don't make 150k.

 

 

And like someone else mentioned, it's not a market here that you most people just arrive into and buy a detached house. This isn't some place no one wants to live like Manitoba ;) . Some of my friends who own now and even myself, it was the process of save up enough for a down payment on a condo, then sell that for a profit and have the down payment for a townhouse , and in a couple years it'll be moving to a detached house.

 

 

So yeah, if you thought you'd just fly into YVR get out of the cab (if you can even get one) and just point to a detached house in Shaughnessy, you're SOL

 

 

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Born and raised in Burnaby. But living that close to Vancouver is way too busy for me now. Not to mention outrageously expensive. 

 

My wife and I bought a detached home in Mission (Fraser Valley) 4 years ago and since then our house has almost doubled in value. The commute is brutal but I have a career that makes the commute worth it (which will keep me on the coast for at least another 30 years). I bought an electric car to help offset fuel costs. So far so good.

 

I really enjoy living in the country. Less busy and slower pace of life. Close to all kinds of great outdoor activities. Still close enough to the city that I can drive in for Canucks games, Concerts, or to take out of town friends around the city, etc

 

Living in the Lower Mainland still works for me and my family, but I can definitely see how it wouldn’t for others. 

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