As children, our primary concern when our families were moving to a new city was whether our new house would have a bigger bedroom for us than our old Toronto lofts, and whether there would be nice kids in our new school. As an adult, these concerns still play on our minds but are fairly drowned underneath other, more pressing concerns, such as whether we will find a decent job, whether we'll be able to afford a home, and how much it will cost to support ourselves there. If you're looking to weigh the cost of living in Vaughan, here are some of the things you'll have to take into consideration.
Housing
According to Sutton Real Estate Toronto and every other expert in the country, the Greater Toronto Area is second only to Vancouver in its high cost of housing. According to Statistics Canada, the average household spent almost $19,000 per year on rent and mortgage payment in 2009, and this figure will only have increased since. This figure varies slightly depending on whether you choose a more suburban area like Vaughan or Toronto proper, or even which neighborhood you choose in Vaughan, but be prepared to downgrade your home size expectations.
Food
There are certain basic necessities of life, and nowhere does facial hair removal for women figure into it. Before you can start budgeting your money for cosmetics and movie tickets, you'll need to feed your family. The average family in the Greater Toronto Area spends upwards of $8,000 a year on food because basic staples like milk, cereal, and bread are more expensive in large cities, where there's competition to buy food and it has to be imported a long distance from the farms where it was made. If you plan on eating out regularly, this figure will be 3 to 5 times higher.
Transportation
Once we have our Vaughan townhouses and the food with which to fill it, it's time to think about how you're going to get back and forth from work and your activities. It costs money unless you go everywhere on foot or on your bicycle. In fact, the average Greater Toronto Area family spends over $10,000 per year on transportation. That includes car payments, vehicle insurance, gas, repairs, and tickets for public transportation.
Income
All of your expenses must be met and exceeded by your income if you want to make a sustainable life in the Greater Toronto Area. The minimum wage for 2010 was $10.25 an hour, but it is almost impossible to live on this alone. Thankfully most jobs pay more, and the average family earns about $92,000. Remember though, in addition to your grocery bills and payments to Canadian mortgage companies, you'll also have to fork over an average of $23,000 for taxes, pension contributions, and insurance.
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