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What to know about the cost of living in other Canadian cities when leaving Montreal
The cost of living is an important consideration when moving nowadays. It has always been a big factor, but after the 6.8% increase in the consumer price index, you can see why this can’t be stressed enough. Many people move in search of a more affordable place, but how can you find that if the prices are high everywhere? Because of that, you need to research as much as possible before you move. So, if you were moving from Montreal to Vancouver, you would need to compare these two places and know what to expect. Luckily, our Canada moving services providers offer services that cover the whole country. And our guide of today will inform you of the cost of living in other Canadian cities when leaving Montreal.
The cost of living in other Canadian cities when leaving Montreal will vary
Montreal is one of the biggest and most popular cities in Canada. It is the second biggest by population, with 1.78 million residents. In the past year, the city’s population rose by 0.72% a bit higher than in the past couple of years. Everybody knows Montreal to be an expensive place, even though it is the third most expensive city in Canada, after Vancouver and Toronto. So, if you would be moving from Montreal to Vancouver, the costs of living would be higher. The rent in Montreal costs anywhere from C$1,070 to C$2,400, depending on the area and the size of the apartment. The median home value is C$822,000, which is the reason why the majority of the population rents their homes. Other expenses include utilities, which cost around C$127 for a single person in a studio apartment, and internet which costs around C$60.
Montreal is famously expensive
What can you expect if you move to Vancouver?
If you were to hire some Montreal long distance movers for your relocation to Vancouver, you will have a long road ahead of you. Vancouver is one the far west of Canada, almost 5,000 km away. Such a big distance means big differences between the cities, costs included. Vancouver is one of the most expensive cities to live in Canada. So, the cost of living in other Canadian cities when leaving Montreal in this case will rise by a lot. Rent in Vancouver costs from C$1,950 to C$4,300. The median home value in this Canadian hub is well over the national average, at C$1,535 million. The prices have been fluctuating recently, but as you can see, very few people can afford buying a property nowadays, making renting the only solution. Utilities per person in a studio apartment are C$80, surprisingly lower than in Montreal. Internet, on the other hand, is of the same quality, but by C$20 more expensive than in Montreal.
Moving to Calgary will offer slightly higher costs compared to the cost of living in other Canadian cities when leaving Montreal
The distance between Montreal and Calgary might be lower than in the previous comparison, at 3,500 km, but the differences will be quite visible. First, Calgary is slightly less populated than Montreal, with 1.336 million residents. Calgary is the biggest hub in Alberta and all the surrounding provinces, justifying its expensive reputation. The growing population only makes the prices higher, especially housing. As it is a custom in big cities, most of the population rent their homes, ranging in cost from C$1,300 to C$2,700. The average home price in the city is C$779,000, cheaper than in both previously mentioned places. Utilities cost C$190 per month, which makes Calgary the most expensive city on the list for utilities. The price for an internet connection is the same as in the previous two places, and the quality doesn’t differ much. So, if you would be moving from Montreal to Calgary, some aspects of life would even be cheaper.
The growing population in the big cities only makes housing more expensive
What can you do to reduce the costs of living?
Even though moving to an affordable city with the help of Centennial Moving Canada would help, sometimes you cannot decide which city you will move to next. Work is the biggest deciding factor, even though remote work is a viable option. So, if you happen to be forced to relocate to a more expensive city, what else can you do except investigate the cost of living in other Canadian cities when leaving Montreal? Some of our best pieces of advice are:
Rent a cheaper apartment or find a roommate
Create a budget
Try to save on housing costs
Housing costs make up 30% of your monthly budget, whether you buy or rent. Professionals predict the 3 and 5-year fixed rates to be lower in 2023, but they would still be at a rate of around 4.50%. A good way to save on monthly housing expenses, or at least utilities will be by getting a roommate. They will contribute to the rent and utility bill, making the overall expenses lower for both. So, if you plan on finding a roommate, there are even sites and apps made for this purpose – Roomies is a great option.
Create a budget
Before moving, we always recommend our clients find secure jobs. Any of the three cities we talked about offer countless job opportunities thanks to the advanced economy. But you should only move once you have secured one. The economy is quite unstable nowadays, so you never know what can happen. Having a set budget and savings will help you make the most of your money. Even in an environment that is more expensive than what you are used to. If you have at least three months worth of savings before moving will have you covered and worry-free in the first few months in the new city. Having a developed budget plan where you will write all your expenses will help you locate resources for expenses, savings, leisure, etc.
The cost of living in other Canadian cities when leaving Montreal will differ between places
Know the cost of living in other Canadian cities when leaving Montreal
Montreal is an entertainment and economic hub in Quebec, but you will get bored of any city after some time. When the time for change comes, the cost of living in other Canadian cities when leaving Montreal is important. It will give you a general idea of how far your dollar can get you in your new city. You might not be personally money-oriented, but that is the world that we live in. We wish you good luck and an easy adaptational period!
References:
Government of Canada, Statistics Canada. (2023, January 17). The Daily — Consumer Price Index: Annual review, 2022. https://www150.statcan.gc.ca/n1/daily-quotidien/230117/dq230117b-eng.htm