Canada – Land of Opportunity and the Free, for Immigrants

| December 27, 2013

Canadian Living

Canada is a beautiful country, one which more and more people from other nations are learning about. If you, or someone you know, is considering moving to Canada it’s important that you have some idea what it’s like living in this breathtaking land.

A Few Primary Considerations

With the exception of the United States of America, living in Canada is generally less expensive than living in many Western countries. Those considering moving from places like the United Kingdom will discover a few differences.

  • Food is less expensive in Canada.
  • Most forms of recreation, including dining out, is less expensive in Canada.
  • Power is less expensive in Canada. However, you will likely find you use more of it to heat your house during the cold Canadian winters.
  • Fuel is less expensive in Canada.
  • Insuring your automobile is very expensive in Canada.

Canada boasts lover living costs than many other developed locations in the world, with the cost of living being the highest in Toronto, Vancouver, Montreal, Calgary and Ottawa. The cost of living survey, performed by Mercer in 2012, compared over 214 cities and 200 items in each location to determine its rankings. Items compared included transport, clothing, food, household goods, entertainment and housing.

Buying a Home in Canada

Moving to Canada from other western countries, particularly Europe, the UK and Australia, with it’s lower housing costs is one of the main attractions for many. While recent years have seen something of a decline in the advantages due to the stronger Canadian dollar those that move to Canada usually see that the money they brought with them goes farther and that house prices are more favorable.

Regardless of the stronger Canadian dollar and the subsequent rise in housing prices in recent years, the prices on houses are still among the most affordable in the western world. The most affordable provinces for housing is New Brunswick, with British Columbia being the least affordable by far. Part of the reason that British Columbia is so less affordable is because the weather is much milder.

Life Insurance

You might be thinking, “having life insurance gives me a peace of mind,” and you would be right. It’s important to obtain life insurance and to secure coverage for the best price you can get. There are also many options available when considering life insurance.

One of the first things to consider is what the policy needs to cover. If you are just looking for enough coverage to cover a funeral you will find that you need different options than a couple with children and a mortgage. Once you know what you need you can begin shopping around to determine how much coverage you truly need. Too much coverage is a waste of money with high premiums while too little might mean your loved ones will find themselves in a financial crisis.

It is suggested that the amount of insurance to get is equal to an amount somewhere between five and ten times your annual income, before taxes. A more specific formula to determine how much you need would be to add together all of your bills, including things such as:

  • Credit cards
  • Car payments
  • Loans
  • Mortgages
  • Funeral costs

Once you have those all added up, try to estimate future bills and this will give you an idea of how much coverage you need. If it sounds like a lot of guesswork, it can be. Figuring out how much coverage you need can definitely be a complicated experience, and you may need to consult with a professional before deciding on an amount.

Welcome to Canada

Canada is a great country to live in. Our reputation for friendly citizens is well-earned, and we pride ourselves on maintaining that friendly, open reputation.

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