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Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 3899
Experience:  Providing Financial, Tax & Business advice since 1986
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I cant decide if I want to live in Vancouver or Toronto. Overall

Customer Question

I can't decide if I want to live in Vancouver or Toronto. Overall, the healthy lifestyle and the geographic region of Vancouver are more appealing to me than Toronto. The only thing that turns me off from Vancouver though is the rainy months of the year (October - May). I personally would find that to be very depressing. And being that I can't afford it, I wouldn't go up in the mountains in the winter time unless it's on a short-vacation.
If I was to be working part-time as a personal trainer, living in a bachelor apartment, what would be the breakdown of my monthly expenses?
How much $ should I bring with me for rent (1st and last month), furniture, security deposit, etc.?
(For both Vancouver and Toronto - separately / side by side for comparison), please
Submitted: 12 months ago.
Category: Finance
Expert:  Lane replied 12 months ago.

NPVAdvisor :

Hi, I've pulled together something that should give you the data to answer all of your questions and provide some additional context as well.

NPVAdvisor :

I have relied on the data collection technology use by Mladen Adamovic’s Heuristic technology to filter out the impurities in data provided by Mercer, UBS and The Economist, by periodically discarding data which most likely are incorrect statistically, obtaining check data from the actual sources (websites of supermarkets, taxi company websites, governmental institutions, newspaper articles, other surveys, etc.), and finally, discarding “noise data,” ( discarding a 20 from a data series of inputs for a certain cost that might contain 4,4,5,3,6,4, and 20).

NPVAdvisor :

Let’s start with the differences between the general price indices between Vancouver and Toronto:


Consumer Prices in Vancouver are 8.48% higher than in Toronto


Consumer Prices Including Rent in Vancouver are 6.30% higher than in Toronto


Rent Prices in Vancouver are 2.17% higher than in Toronto


Rent Prices in Vancouver are 2.17% higher than in Toronto


Rent Prices in Vancouver are 2.17% higher than in Toronto

NPVAdvisor :

 


And to turn it around and use a weighted average of everything called PURCHASING POWER, you’ll see, of course, that your purchasing power in Vancouver is LOWER, 5.2%

NPVAdvisor :

And using the same inputs, but breaking them out more, here’s your side by side:




































































































































































































































































































































































































Toronto



Vancouver



Restaurants









Meal, Inexpensive Restaurant



12.00 C$



12.00 C$



0.00 %



Meal for 2, Mid-range Restaurant, Three-course



60.00 C$



70.00 C$



+16.67 %



Combo Meal at McDonalds or Similar



8.00 C$



8.00 C$



0.00 %



Domestic Beer (0.5 liter draught)



5.50 C$



5.62 C$



+2.20 %



Imported Beer (0.33 liter bottle)



6.00 C$



6.50 C$



+8.33 %



Cappuccino (regular)



3.48 C$



4.00 C$



+14.94



Coke/Pepsi (0.33 liter bottle)



2.00 C$



2.00 C$



0.00 %



Water (0.33 liter bottle)



1.50 C$



2.00 C$



+33.33 %



 



Markets









Milk (regular), 1 liter



2.00 C$



2.00 C$



0.00 %



Loaf of Fresh White Bread (500g)



2.99 C$



3.00 C$



+0.33 %



Rice (1kg)



2.50 C$



5.00 C$



+100.00 %



Eggs (12)



3.00 C$



4.00 C$



+33.33 %



Local Cheese (1kg)



10.00 C$



15.00 C$



+49.98 %



Chicken Breasts (Boneless, Skinless), (1kg)



11.00 C$



14.50 C$



+31.81 %



Apples (1kg)



3.00 C$



3.24 C$



+8.08 %



Oranges (1kg)



2.99 C$



3.00 C$



+0.33 %



Tomato (1kg)



2.99 C$



3.00 C$



+0.33 %



Potato (1kg)



1.62 C$



2.00 C$



+23.71 %



Lettuce (1 head)



2.00 C$



1.60 C$



-20.14 %



Water (1.5 liter bottle)



2.00 C$



2.25 C$



+12.50 %



Bottle of Wine (Mid-Range)



14.95 C$



17.00 C$



+13.71 %



Domestic Beer (0.5 liter bottle)



2.50 C$



3.00 C$



+20.00 %



Imported Beer (0.33 liter bottle)



3.00 C$



3.00 C$



0.00 %



Pack of Cigarettes (Marlboro)



10.00 C$



10.00 C$



0.00 %



 



Transportation









One-way Ticket (Local Transport)



3.00 C$



2.75 C$



-8.33 %



Monthly Pass (Regular Price)



126.00 C$



91.00 C$



-27.78 %



Taxi Start (Normal Tariff)



4.25 C$



3.32 C$



-21.76 %



Taxi 1km (Normal Tariff)



1.75 C$



1.84 C$



+5.14 %



Taxi 1hour Waiting (Normal Tariff)



30.50 C$



32.03 C$



+5.02 %



Gasoline (1 liter)



1.30 C$



1.42 C$



+9.23 %



Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)



23,476.52 C$



21,475.00 C$



-8.53 %



 



Utilities (Monthly)









Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment



178.95 C$



150.00 C$



-16.18 %



1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)



0.29 C$



0.38 C$



+29.31 %



Internet (6 Mbps, Unlimited Data, Cable/ADSL)



49.30 C$



45.00 C$



-8.72 %



 



Sports And Leisure









Fitness Club, Monthly Fee for 1 Adult



54.50 C$



47.50 C$



-12.84 %



Tennis Court Rent (1 Hour on Weekend)



29.55 C$



37.50 C$



+26.92 %



Cinema, International Release, 1 Seat



12.50 C$



12.50 C$



0.00 %



 



Clothing And Shoes









1 Pair of Jeans (Levis 501 Or Similar)



57.00 C$



70.00 C$



+22.81 %



1 Summer Dress in a Chain Store (Zara, H&M, ...)



40.00 C$



60.00 C$



+50.00 %



1 Pair of Nike Shoes



110.00 C$



110.00 C$



0.00 %



1 Pair of Men Leather Shoes



100.00 C$



120.00 C$



+20.00 %



 



Rent Per Month









Apartment (1 bedroom) in City Centre



1,500.00 C$



1,375.00 C$



-8.33 %



Apartment (1 bedroom) Outside of Centre



951.00 C$



975.00 C$



+2.52 %



Apartment (3 bedrooms) in City Centre



2,600.00 C$



2,850.00 C$



+9.62 %



Apartment (3 bedrooms) Outside of Centre



1,800.00 C$



1,800.00 C$



0.00 %



 



 



 



 



Buy Apartment Price









Price per Square Meter to Buy Apartment in City Centre



5,920.15 C$



7,148.97 C$



+20.76 %



Price per Square Meter to Buy Apartment Outside of Centre



3,748.85 C$



5,055.57 C$



+34.86 %



 



Salaries And Financing









Median Monthly Disposable Salary (After Tax)



3,000.00 C$



3,000.00 C$



0.00 %



Mortgage Interest Rate in Percentages (%), Yearly



3.50



3.90



+11.43 %



 

NPVAdvisor :

I hope this helps

NPVAdvisor :

Good luck with everything

NPVAdvisor :

Let me know of you have any questions

NPVAdvisor :

Lane

Expert:  Lane replied 12 months ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.
Expert:  Lane replied 12 months ago.

Hi Nicholas,

... just checking back in here, as I never saw you come into the chat.

Let me know if I can help further

Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 3899
Experience: Providing Financial, Tax & Business advice since 1986
Lane and 4 other Finance Specialists are ready to help you
Expert:  Lane replied 12 months ago.

Thanks for the rating Nicholas.

Let me know if I can help further,

Lane

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