Toronto is one of the best places to live but it’s a very expensive city to live in Canada, It is still cheaper compared to some other cities like New York.
If you are planning to move to Canada, especially Toronto then this video will help you plan and know what to expect.
HOUSING COST
Rent – $1500 – $3500 (Average $2,000-$2500)
$1,500 is a bit low end, you can probably get a basement for that price and can’t be very picky about neighborhoods. If you want some nice place to live, expect to pay over $2k.
Student room Sharing – $300-$800 Students can find shared rooms for this price range.
CAR
- Used Car (Starter) – $4,000 – $5000
- User Car (In Good Condition) – $7,000 – $10,000
- Payment (Financed car) – $200-5,000/month
- Insurance – $300-$450/month
It’s probably cheaper to buy a car in Toronto than getting insurance. Be ready to be a lot for insurance. Living in some areas has higher insurance costs than others.
- Gas – $100-$300/month (Average: $200)
This depends on how much you use your car, gas being so expensive right now, be ready to pay more for gas these days.
- Maintenance – $50/month
Oil changes at least twice a year, Breaks, Tire change. $50 is just an average
- Bus Pass – $100-$200
Sometimes, you need to pay for both Car and a bus pass depending on where you work. It’s difficult to travel by car to the city.
NECESSCITIES
Phone
- $50-$100 per person (Average: $80)
Utility
- Internet – $50-$100/month (Average: $80)
- Electricity – $150/month (Summer – $40-50$ and Winter – $200-$400)
Netflix
- $15-$20/month
Amazon Prime
- $8-$10/month
GROCERIES
- $200-$400/month per person
Dine Out
- $100-$300 per month for a couple
Shopping
- $100-$400 per month
Example: Clothing\Shoes, Electronics, Movies, Books, Home Cleaning Products, Hygiene products like soap, deodorant, Hair cut etc.
Laundry
- $20
Gifts
- $25/Month
Family Trip/Vacation
- $500 – $5000/year
RAISING CHILD (1 Child Cost)
- Day Care – $800 – $1500/Month (Average: $1,100)
- Activities – $50/Month (Swimming, Music, Soccer etc)
- Clothing – $25-$50/Month
- Food – $50 – $200/Month
- School Supplies and trips – $25/Month
- College Education Fund (RESP) – $50-$250/Month
