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What's the cost of relocating to Vancouver?
Relocating, as always, is a huge decision. But with the right knowledge and preparation, it can be an exciting new chapter in your life. Now, as you relocate, your budget will be one of the key concerns on your mind. This is why we’ve put together a guide on the cost of relocating to Vancouver, so you can be as prepared as possible! Moreover, everything you do, from hiring Centennial Moving Canada to obtaining the right packing supplies will cost you money. Logically, all of those expenses will have to come from your savings. However, as you are moving to a new location, you will want to know what to expect from it. From the cost of housing to the price of groceries, this guide will give you an estimate of what you can expect to spend in Vancouver.
The costs of relocating to Vancouver – Everything you should know
The city of Vancouver is considered to be one of the most expensive in North America. However, Vancouver’s high cost of living is mitigated by the city’s relatively affordable housing. When it comes to other expenses, such as groceries and transportation, Vancouver is on par with other major Canadian cities. Hence, to tackle your relocation expenses properly, you will have to understand each and every important aspect of living in this city. Moreover, you will have to understand exactly what your highest expenses will be, so you can prepare for them. So, for instance, if you are moving from Montreal to Vancouver, you can understand that your grocery bill will be higher. While in terms of actual expenses, the cost of living in Vancouver is 26.6% higher than in Montreal, this difference is only significant when it comes to housing and transportation.
Hiring movers and their services
When it comes to the cost of relocating, the first thing you have to take into account is the actual process of moving. This includes hiring a moving company, as well as renting a truck or van if you decided to do the move yourself. The average cost of hiring a professional mover in Vancouver is about $100 per hour for a two-bedroom home.
Depending on the company you hire, as well as the services you need, you can either pay more or less for this move
If you have more stuff, the price will be higher. For instance, if you have a three-bedroom home, the average cost of hiring a professional mover in Vancouver is $135 per hour. Of course, the cost of hiring a professional mover will also depend on the services you require; as well as the distance you move to. If you are, for example, moving from Ottawa to Vancouver, the price would be much higher than simply moving down the street.
The cost of living in Vancouver
If you are to move to a city like Vancouver, you ought to know exactly what kind of expenses you should expect. Hence, if moving to Vancouver, you should know that some of the highest expenses include:
The cost of relocating to Vancouver will also depend on the area you choose to move to
Of course, housing will pose the biggest expense due to the city’s high real estate prices. The average cost of a one-bedroom home in Vancouver is $2,060. While the average cost of a three-bedroom home is $4,380. As for groceries, the average monthly cost for a family of four is $936.50 in Vancouver. This number will rise if you have expensive taste or eat out often. Lastly, when it comes to transportation, the average monthly cost for a family of four is $172 in Vancouver. This includes the cost of gas, public transit, and car insurance.
Understanding the cost of relocating to Vancouver: The legal fees and expenses
Now, moving to a new city will almost always carry expenses that you had not thought of. A great example of such an expense is the legal fees that come with relocating. If you are moving to Vancouver from another province, for instance moving from Edmonton to Vancouver, you will have to switch your driver’s license and health card over to a BC one. The cost of getting a new driver’s license in Vancouver is $75. The cost of getting a new health card is $66. So, these are the kinds of expenses you should keep in mind when planning your move to Vancouver. In addition, if there is a change in address or a name change, you will have to notify the government and update your records. The cost of doing so is around $25.
Housing is Vancouver’s biggest expense
As we stated before, the biggest cost of relocating to Vancouver will be housing. Of course, these prices will differ depending on the neighborhood you choose to live in. For instance, if you want to live in a more expensive neighborhood like Coal Harbour, the average rent for a one-bedroom apartment is $2,700; but if you choose to live in a cheaper neighborhood like Renfrew-Collingwood, the average rent for a one-bedroom apartment is $1,600.
If you are to move to Vancouver, make sure you research the housing options thoroughly
In addition, when it comes to housing, you also have to factor in the cost of utilities. The average monthly cost of utilities for a one-bedroom apartment in Vancouver is $120. While the average monthly cost of utilities for a three-bedroom apartment is $210. So, if you decide to move to Vancouver, make sure you thoroughly research the different neighborhoods to find one that best fits your budget.
Groceries are Vancouver’s second biggest expense
As we mentioned before, the average monthly cost for a family of four is $936.50 in the city of Vancouver. However, this number will differ depending on the size of your family and how often you eat out. For instance, if you have a family of four and you eat out often; your monthly grocery bill could be as high as $1,500. On the other hand, if you have a family of four and you cook all of your meals at home, your monthly grocery bill could be as low as $600. So, one could say that the cost of relocating to Vancouver really just depends on your lifestyle! Of course, it will also depend on the relocation process itself; as well as the company you choose to help with your move.