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Everything You Must Know Before Moving From Ottawa to Toronto

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Toronto

Everything You Must Know Before Moving From Ottawa to Toronto

Ottawa and Toronto are both popular residential choices both for Canadians and immigrants, but for different reasons. So if you are moving from Ottawa to Toronto, you might have to prepare yourself because you might encounter a few major differences in the way of life, the culture, the cost of living and other aspects. 

 

Although Toronto is actually the most populous city in Canada, the city of Ottawa is actually the capital. It is situated in the southeastern portion of the province of Ontario right along the Ottawa River. With a population of approximately 1 million, it is only the fourth largest city in the country. In recent years, Ottawa has grown quite rapidly due to its rise as one of the major business districts in North America. It is also known for its rich cultural diversity. 

 

Toronto is located on the northwestern shore of Lake Ontario. This city is famous for a lot of things, such as world-class universities, popular sports teams and a multicultural environment that provides great opportunities for education, interaction and simply a rich and fulfilling lifestyle. 

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Cost of Living: Comparison Between Ottawa and Toronto

To give you a clearer picture of the difference between these two cities, here is a rough estimate of how much you need to maintain a decent lifestyle in these two cities. 

Category

Ottawa

Toronto

Housing

$1302 / Month

For a 1-bedroom apartment

$1708 / Month 

For a 1-bedroom apartment

Housing Utilities and Insurance

$155 / Month

$215 / Month

Transportation

$122.50 / Month (OC Transpo)

$156 / Month (TCC Pass)

Car Insurance 

$1528

$1528

Entertainment

$200

$230

Grocery Cost for 1 Person

$212.36

$283.60

Communication (Phone and Internet)

$45

Unlimited talk, text, and data included

$80

Unlimited talk, text, and data included

Health and Fitness

$55 for the membership

$55 for the membership

Provincial Taxes

About 13%

About 13%

Looking at the table above, you can clearly see that the cost of living in Ottawa is cheaper than the cost of living in Toronto. Housing and utilities are much cheaper in Ottawa compared to Toronto. Groceries, transportation, communication and entertainment are also higher in Toronto. Of all the cities in Canada, Ottawa ranks as the 28th most expensive in terms of cost of living while Toronto tops the list at number 1. 

What Are the Benefits of Moving to Toronto From Ottawa?

From the table above, it is easy to see that living in Toronto is much more expensive than if you stay in Ottawa. But despite the steep cost of living, many people still consider moving to Toronto from Ottawa to be a step up. 

Other than the cost, there are also other differences. Toronto has a slightly warmer average temperature than Ottawa and they have more major sports stadiums and more airports. If you wish to live a fast-paced lifestyle with a vast number of opportunities for entertainment, sports, culture and food, then moving from Ottawa to Toronto might indeed be a very suitable decision for you.

Best Areas to Live in Toronto

Choosing a new neighborhood in Toronto can be tricky. After all, it is Canada’s biggest city where you can find a variety of opportunities. Here we list some of the best neighborhoods when moving to the city. 

Yonge-Eglinton

The neighborhood is where single and young professionals normally live. This busy hub is only a close walk to famous shops, restaurants, and corporate headquarters. It is accessible to public transport, giving residents an easier way of commuting from their offices and back. 

Liberty Village

The once-old factory buildings are now turned to modern cafes, bars, and lofts, giving this neighborhood a trendy vibe. You can find here start-up companies in media, technology, and design. 

Leslieville

This is the most family-friendly neighborhood in Toronto that guarantees peace for families.  It is also the perfect place if you like vintage stores and independent boutiques.

Allenby

This neighborhood is kid-friendly as it is close to the Allenby Public School. It’s where most parents send their children to the French Immigration program. It features green lawns, a variety of trees, and recreational spaces within walking distance. 

Pros and Cons to Move to Toronto From Ottawa

Moving to Toronto from Ottawa is not a decision that you should make casually. You need to weigh the pros and cons very carefully in order to determine whether this is indeed the right choice to make. 

Pros

  • Toronto provides vast opportunities for economic and professional growth.
  • There are countless cultural and entertainment events all the time. 
  • Winters are milder than in Ottawa. 

Cons

  • The cost of living in Toronto is much higher and requires a more sizable source of income. 
  • Outdoor recreation spots are limited to suburban parks and lakeside activities.

The Best Moving Solutions From Ottawa to Toronto

Moving to a city requires not only packing your things in one go but also transporting them in one drive. Good thing for long distance moving companies, you can rent a truck to bring your things to your new neighborhood. Some providers even offer full value moving coverage, packing, unpacking, loading, unloading, custom crates, short term-term, and long-term storage services. It makes moving safe and convenient. Most have online tracking so you can monitor your packages. You do also have the option of renting a moving truck and hauling everything yourself but you just might regret this after your move. 

Conclusion

Toronto is one of the most sought after destinations for immigrants from all over the world. This city offers numerous opportunities for individuals and families that are looking for a better life. However, beyond the excitement of living in a new neighborhood comes the arduous task of calculating possible expenses, looking for a place to transfer to, and choosing a long distance moving provider, among others. You need to consider all factors so you can move smoothly and start fresh in a new city. 

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Everything You Must Know Before Moving From Toronto to Montreal

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Montreal

Everything You Must Know Before Moving From Toronto to Montreal

Toronto is the most populous city in Canada, with over six million people. During the late 1800s, the city experienced several economic growths, where the Toronto Stock Exchange opened, and the railways grew. Being the largest city, you can expect skyscrapers as tall as 500 feet towering over while walking around. 

Montreal, meanwhile, is the biggest city in the province of Quebec and the second-most populous city in Canada. If you are looking for a city with European features in North America, Montreal is the perfect city for you. Filled with history and culture, especially when you walk through the Old Port, you can close your eyes and imagine yourself in Europe. 

Moving From Toronto to Montreal

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Cost of Living: A Comparison Between Montreal and Toronto

Montreal is a booming city, the same as the other major cities in Canada. For a decent lifestyle, the expenses can vary and will depend on your lifestyle but let’s see how much you will save. 

Category

Montreal

Toronto

Housing

$1285 / Month

for a 1-bedroom apartment

$1708 / Month 

For a 1-bedroom apartment

Housing Utilities and Insurance

$160 / Month

$215 / Month

Transportation

$88.50 / Month  (STM)

$156 / Month (TCC Pass)

Car Insurance 

$717 / Year

$1528

Entertainment

$170 / Month

$230

Grocery Cost for 1 Person

$350 / Month

$283.60

Communication (Phone and Internet)

$65 

Unlimited talk, text, and data included

$80

Unlimited talk, text, and data included

Health and Fitness

$35 for the membership

$55 for the membership

Provincial Taxes

About 14.975%

About 13%

Looking at the table above, you see that the cost of living in Montreal is cheaper than the cost of living in Toronto. Toronto is more expensive, being the biggest city. Housing, insurance, transportation, entertainment, and communication costs are higher in Toronto. However, Montreal imposes higher provincial taxes because of additional services offered by the provincial government to the residents. Even so, in the end, the cost of living in Montreal remains cheaper than the cost of living in Toronto. 

The Benefits of Moving to Montreal From Toronto

Even though Montreal’s home prices are rising, the prices remain less expensive than in Toronto. Moreover, the car insurance rates and the public transportation networks are cheaper in Montreal. You can opt to use its public transportation networks. 

Montreal takes a slightly slower pace with cobbled streets, French cafes, botanical gardens, and scenic architecture. On the other hand, Toronto has a fast-paced type of life with busy metropolitan areas.

Best Areas to Live in Montreal

Choosing a new neighborhood in Montreal can be tricky. After all, it is Canada’s second biggest city where you can find a variety of opportunities. Here we list some of the best neighborhoods when moving to the city. 

Plateau Mont-Royal

This vibrant neighborhood is located towards the north of downtown Montreal with a population of 104,000 people. Sometimes called the “Little Paris” due to its large number of French expatriates, this area is perfect for families and students.  Multiple different boutique shops and bars are littered throughout the streets of the Plateau. In addition, leisure activities such as lakeside walks and afternoon picnics are common to this community. 

Old Montreal

Known for its cobblestone streets and its European features, it is considered a major tourist attraction due to its buildings that date back to the 17th century. Surrounding this, a variety of museums and attractions exist. The city center is within a walking distance, and the orange metro lines make traveling to different places in Montreal much easier. However, due to all its history and exquisite architecture, rent can be rather expensive and only more suited for young professionals rather than families.

Ville-Marie

This is primarily downtown Montreal which showcases excellent Victorian houses alongside a central business district. This makes it easier for young professionals to establish their businesses or brands on the range of commercial streets that exist in this neighborhood.

Griffintown

This is primarily downtown Montreal which showcases excellent Victorian houses alongside a central business district. This makes it easier for young professionals to establish their businesses or brands on the range of commercial streets that exist in this neighborhood.

Pros and Cons When Planning to Move From Toronto to Montreal

Moving to Montreal from Toronto is not a decision that you should make casually. You need to weigh the pros and cons very carefully in order to determine whether this is indeed the right choice to make.

Pros

  • Housing, insurance, transportation, entertainment, and communication are cheaper in Montreal compared to Toronto. 
  • Montreal is a very green city. With its Mount Royal in the middle of the city, it is easily accessible year round.
  • If you are looking for a city with European features in North America, Montreal is perfect for you.

Cons

  • Being a smaller city compared to Toronto, Montreal holds less head offices. 
  • Toronto is more multiculturally diverse than Montreal. 
  • Keep in mind that French is the primary language in the province of Quebec. You will probably have to learn some French. 

What Are the Best Moving Solutions in Moving From Toronto to Montreal?

Moving to a city requires not only packing your things in one go but also transporting them in one drive. Good thing for long distance moving companies, you can rent a truck to bring your things to your new neighborhood. Some providers even offer full value moving coverage, packing, unpacking, loading, unloading, custom crates, short term-term, and long-term storage services. It makes moving safe and convenient. Most have online tracking so you can monitor your packages. You do also have the option of renting a moving truck and hauling everything yourself but you just might regret this after your move. 

Remember to choose a long distance moving provider with accreditations from organizations like the Canadian Movers Association and Better Business Bureau. They must also provide insurance. 

Conclusion

Montreal is a great city to move into if you are looking for a cheaper cost of living. However, beyond the excitement of living in a new neighborhood comes the arduous task of calculating possible expenses, looking for a place to transfer to, and choosing a long distance moving provider, among others. You need to consider all factors so you can move smoothly and start fresh in a new city. 

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Moving to Toronto: Where Should You Live?

If you’re looking for plenty of transportation options, vibrant culture life and the best career opportunities, Toronto is for you. However, Toronto’s vast options can make moving to a new neighbourhood tricky. Here is a complete guide to finding your ideal Toronto neighbourhood.

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The Best Places to Retire in Ontario

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Best Places to Retire in Ontario

The Best Places to Retire in Ontario

If you’re coming close to retirement age, you might be thinking about where exactly you want to downsize and retire. People live near or in major cities because of their jobs. Upon retirement, you are not obliged to remain in the city. You may want to live in an area that is peaceful and comfortable like Ontario, one of the best places to retire in Canada. Fortunately, Ontario has a lot of senior-friendly towns. Here, you will find all the amenities and activities you need to live a comfortable life. So, if you plan to explore what Ontario has to offer, you are in the right place! We will look at some of the best places to retire in Ontario.

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The Best Places to Retire in Ontario

1. Peterborough

Whenever you ask a Canadian where they think is a good place for retirement, the most common answer will be Peterborough. Situated between Toronto and Ottawa, Peterborough is conveniently located. Peterborough is home to a large elderly population that actively participates in the community. Besides great retirement communities, Peterborough also offers affordable housing for those who wish to remain independent.

2. Chatham Kent

With its affordable lifestyle, Chatham-Kent is a hidden gem in the “Banana Belt” of southwestern Ontario. There are four distinct seasons here, although the weather is mild. The community is situated between Lake Erie and Lake St. Clair. It is a family-oriented community, but it is also popular among retirees. Chatham Kent provides a combination of Arts and Entertainment, nine golf courses, boating, fishing, hunting, birdwatching, ice fishing, and snowmobiling on the lakes and rivers in the winter.

3. Collingwood

4. With easy access to Wasaga Beach and Blue Mountain, Collingwood is one of Ontario’s top retirement destinations. With a sizable percentage of residents in their retirement years, this city is a desirable retirement community. Collingwood also has well-established medical facilities, the Collingwood General and Marine Hospital.

4. Brampton

Brampton is committed to being a city of opportunity that is vibrant, safe, and provides useful services. The city’s population is diverse and growing. Between 2011 and 2016, the number of seniors in Brampton rose by 40% to 66,270. As of 2021, 90,000 seniors reside in Brampton. Most private retirement homes in Brampton  offer a continuum of care that allows residents to live in one type of accommodation for some time and then move to another as their needs change. Despite this change, you can maintain social ties with peers and friends and participate in activities and events that strengthen your connection with the community.

5. Brighton

There is no doubt that Brighton is a popular retirement destination. Those residing here receive senior services from Quinte Access and Community Care Northumberland. If you’re thinking about retiring to Brighton, you’ll have many social activities to choose from. You may become a member of the Croquet Club, Brighton Lawn Bowling Club, Brighton Computer Club, or another amazing seniors’ club.

Popular Question: How Much do I Need to Retire in Ontario?

It’s important to consider your expenses first when wondering how much you will need for retirement in Ontario. The amount you’ll need for retirement will depend on:

  • Rent/mortgage
  • Property taxes
  • Utility bills
  • Groceries
  • Recreational activities & hobbies
  • Transportation
  • Insurance and healthcare 
  • RRSP amount or savings

The government of Canada pays stipends to retirees 65 and over to supplement their income. The amount of money you will need to retire in Ontario is not a simple answer, as it depends on how much you think is sufficient. Under the Old Age Security (OAS) program, retired Canadians over 65 are entitled to a maximum payout of $635.26 per month.

Conclusion

Even though no one region will appeal to all retirees, some retirement communities in Ontario offer enviable amenities and lifestyles for seniors. Retirement location can have a major impact on how you enjoy your golden years. Make sure to choose a community that matches your interests and lifestyle.

Are you moving to or within Ontario soon? Hire one of the most reliable moving companies and stay on track of your move with our Senior Moving Checklist.

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The Best Places to Retire in Canada

The Best Places to Retire in Canada You are gradually approaching retirement. With every passing day, you dream of a time you’ll get to live free from the daily hustle and bustle of life. A time

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What Is the Cost of Moving?

Will you call in professionals or will you organize an activity with friends for your next move? If you are wondering what the expenses influencing the cost of moving are, read this for an informed choice.

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Where to get free moving supplies

The process of moving house can be incredibly expensive. You’ve already spent what feels like an obscene amount of money on buying the house so the extra costs incurred in the moving process may come as a shock. Why is moving sometimes so expensive?

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The Best Places to Retire in Canada

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Best Places to Retire

The Best Places to Retire in Canada

You are gradually approaching retirement. With every passing day, you dream of a time you’ll get to live free from the daily hustle and bustle of life. A time when you’ll finally get to pick up those new and old hobbies while sitting in the comfort of your home in a small and quiet neighborhood or a condo in the center of a vibrant city. Ideally, it is quite difficult to identify some of the best places to retire in Canada. Here you will get answers to the questions you have about security, cost of living, and healthcare which will help you decide where you’d like to retire and enjoy your golden years.

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Top 5 Best Places to Retire in Canada

  1. Peterborough, Ontario
  2. Okanagan Valley, British Columbia
  3. Lethbridge, Alberta
  4. Prince Albert, Saskatchewan
  5. Saint-Bruno, Quebec

Read more about them below!

Best Places to Retire in Ontario

1. Peterborough

The city of Peterborough, with a population of 85,000 residents has many retirement communities, including Chartwell Jackson Creek Retirement Residence and Applewood Retirement Residence, making it one of Ontario’s best places to retire. The city has the Peterborough Regional Health Centre, a state-of-the-art hospital providing a wide range of services.

2. Chatham Kent

Chatham Kent offers mild weather, which is great because it allows for longer summers and moderate winters. Also, Chatham Kent is only a short drive away from cities like Detroit and Toronto. As a result, you can take advantage of this city’s quieter neighborhoods and visit nearby cities as needed.

3. Collingwood

The Balmoral Place Retirement Community and the Chartwell Georgian Traditions Retirement Community are both excellent retirement communities in Collingwood Residence. There are also two modern hospitals: the Collingwood General Hospital and the Marine Hospital.

4. Brampton

Brampton has evolved from a village with around five hundred residents into a bustling suburban city with over 600,000 inhabitants. Brampton’s independent living and assisted living facilities meet the needs of its residents physically, mentally, emotionally, and even spiritually. Specifically, the Peel Regional Police (PRP) keeps Brampton retirees and their properties safe and secure, which provides 24/7 security for residents.  

5. Brighton

Brighton residents can get help with their elderly needs from Community Care Northumberland and Quinte Access. One thing is certain about retiring in Brighton; there are many senior services. Among your options are the Brighton Computer Club, Brighton Lawn Bowling Club, Croquet Club, as well as many other clubs for seniors.

Best Places to Retire in BC

1. Okanagan Valley

Okanagan is undoubtedly one of the most sought-after places to retire in BC. Its amazing weather, leisure activities, and relaxed lifestyles are very appealing. If you look forward to spending your retirement golfing, hiking, or biking, then Okanagan valley presents you with some of the best places to retire in BC.

2. Keremeos

Keremeos is a small town in British Columbia, Canada. It has only around 1,500 residents, with the largest age group being between 65 and 69. This indicates that Keremeos is one of the most in-demand cities for retirees and senior citizens. 

3. Penticton

Penticton is another town located in the southern interior of British Columbia’s Okanagan Valley. Penticton is also a highly sought-after retirement community in Canada. With seven public beaches, three ski hills, a wide selection of professional golf courses, and Walking, hiking, or cycling trails, among others, Penticton offers a relaxed, calm, and comfortable neighborhood to have the best retirement. 

4. Mid Vancouver Island

Many of the best retirement communities in the country are located on Vancouver Island. Mid Vancouver Island is located at the center of Vancouver Island. It has an average temperature of 15-20 degrees throughout the year and is close to the ocean, lakes, rivers, and mountains. Summers are usually warm but not uncomfortable, and winters are rarely below zero, meaning there’s rarely snow. 

5. Surrey

Surrey has a low cost of living, a diverse population, and a rich and interesting community. It’s a wonderful place to retire. You can also find some beautiful beaches along the coast in Surrey, including Centennial Beach, Crescent Beach, and White Rock Beach. There are many shopping malls, hospitals, community centers, non-profit groups, and public parks in Surrey.

Best Places to Retire in Alberta

1. Lethbridge

Compared to the major cities in Alberta, such as Calgary and Edmonton, Lethbridge has a smaller population and lower cost of living. Many people choose Lethbridge for retirement because of its reasonable home prices. Homes in Lethbridge are half the price of those in other large cities. Lethbridge has the most conveniences within walking distance. Hospitals, banks, ATMs, grocery stores, and so on are all nearby.

2. Cochrane

According to a 2020 RCMP report, Cochrane is the 25th safest community in Canada. As a community, Cochrane is the type where you can become good friends with your neighbors by talking over the back fence or simply going for a walk. The warm and friendly community is a hotspot for retirees. 

3. Medicine Hat

Medicine Hat is a great retirement destination. The cost of living and housing there is also relatively low, like Lethbridge. Crime is not a major issue in Medicine Hat. Thus, you can feel safe even if you live alone. The city’s lack of serious crime makes it more attractive for seniors and retirees.

4. Red Deer

Red Deer City is in Central Alberta, and it’s close to the Queen Elizabeth II Highway (Highway II), which provides easy access to the rest of Alberta and other parts of Canada. During the summer, residents of the city can also enjoy a lot of fishing at Kin Kanyon and Bower Ponds, two hotspot parks. 

5. Banff

A popular destination in Alberta, Canada, Banff is one of the country’s most iconic destinations. Set among the majestic Rocky Mountains, it has been a favorite of retirees for many years.

Best Places to Retire in Saskatchewan

1. Prince Albert

Prince Albert is undoubtedly one of the best places to retire in Saskatchewan and Canada. With a healthcare system ranked in the top 25% of all municipalities, Prince Albert offers some of the best healthcare in the region. The most notable attributes of Prince Albert aside from its accessibility to healthcare are its low taxes and transit-friendly options.

2. Kamsack

Kamsack is a town in the Assiniboine River Valley, where the White sand River joins the Assiniboine River in the garden of Saskatchewan. Kamsack is a small town with a population of around 1,800 residents. So, if you look forward to retiring in a more closely-knit neighborhood, this is the place for you. Its size, however, does not limit it from having the necessary social amenities for a healthy and secure retirement.

3. Langham

Langham, in Saskatchewan, is located just 20 minutes from the John G. Diefenbaker International Airport. Langham is a safe, clean, and friendly community. It strives to retain its small-town character. Providing quality infrastructure and new development opportunities, Langham is an affordable place to retire.

4. Warman

Warman’s desirable residential community attracts a range of residents of all ages. Warman is considered one of the fastest-growing cities in Canada. Therefore, newer, more modern facilities are expected to be constructed in Warman. You will have the opportunity to explore the beauty and growth firsthand when you retire here.

5. Yorkton

Yorkshire is a great community that prides itself on having affordable and safe neighborhoods. Yorkton was voted the most ‘Active-Living Friendly’ city in Saskatchewan in a study by the University of Regina. Yorkton provides excellent healthcare and promotes physical activity through a variety of cultural and recreation programs. 

Best Places to Retire in Quebec

1. Saint-Bruno

Quebec has some of the best retirement-friendly cities in Canada, including Saint-Bruno. Featuring relatively affordable housing and plenty of greenery, Saint-Bruno is a safe and quiet place to retire.

2. Joliette

The city of Joliette is located 50 kilometers northeast of Montreal. Joliette is known as a welcoming city for retirees as it offers many senior services. It is nearby hospitals, shops and most essential services are accessible by bike or on foot. Joliette is also considered one of the safest cities in Quebec.

3. Saguenay

When you retire in Saguenay, Quebec, you can take advantage of affordable properties, reliable transportation, and high-quality health care. The city’s railway services provide easy access to most of the city’s attractions. Saguenay, Quebec, has grown into a popular destination in Canada since its founding in 2002.

4. Sainte-Adèle

With a population of 14,000 residents, Sainte-Adèle is a unique location for fine dining, concerts, art galleries, summer theatres, the Zénon-Alary Museum, and festivals, bicycle trails, pedestrian walks, golf courses, horseback riding centers, snowmobile trails, three downhill ski centers, and cross-country ski trails. It’s an exciting, yet peaceful place to retire.

5. Granby

The quality of life in Granby is exceptional, and it is a wonderful place to retire. You will have immediate access to many services, enjoy a pleasant outdoor environment, wonderful parks, and live in a safe and healthy environment. 

Top 5 Cheapest Places to Retire in Canada

1. Cold Lake

The average cost of living without rent in Cold Lake is around $900, with a 1-bedroom apartment in the city center costing $800

2. Moose Jaw

Moose Jaw offers cheaper rent than bigger Prairie cities like Regina and Winnipeg. It costs $890 to get a 1-bedroom apartment in the city center of Moose Jaw. The average cost of living is around $600 without rent.

3. Regina

If you choose to live in Regina, you can expect to spend around $1,100 a month for essential services without rent. The average cost of a 1-bedroom apartment in Regina is $990.

4. Winnipeg

In Winnipeg, you will spend about $1,100 on major living expenses. This cost excludes rent, which is an average of $1,050 for a 1-bedroom apartment in the city center.

5. Grand Prairie

Retiring in Grand Prairie will cost around $1,280 without rent and $1,080 for a 1-bedroom apartment in the city center.

Popular Question: How Much Do I Need to Retire in Canada?

When wondering how much you need to retire in Canada, it’s important to consider your expenses first. The amount you will need to retire will depend on how much you spend in relation to:

  • Rent/mortgage
  • Property taxes
  • Utility bills
  • Groceries
  • Recreational activities & hobbies
  • Transportation
  • Insurance and healthcare 
  • RRSP amount or savings

The government pays retired seniors of 65 and over in Canada monthly stipends to complement income. There is no simple answer to how much money you will need to retire as it depends on how much you consider to be enough. Retirees over 65 in Canada are subject to a maximum payout of $635.26 per month under the Old Age Security (OAS) program.

Conclusion

The information you have read on the best and cheapest places to retire in Canada should help you make a more informed decision about where you want to spend your retirement. You might need to downsize if you choose a retirement home. There are cities and towns in every province of Canada that can meet your needs and preferences. Choose a city or town that speaks to you and enjoy your retirement.

Need some assistance with your move? Our Senior Moving Checklist has everything you need to stay organized throughout your move.

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The Best Places to Retire in Ontario

The Best Places to Retire in Ontario If you’re coming close to retirement age, you might be thinking about where exactly you want to downsize and retire. People live near or in major cities because of

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11 Things to Know Before Moving from New Zealand to Canada

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11 Things to Know Before Moving From New Zealand to Canada

Known for its many excellent benefits for residents, Canada has gradually become a top destination for immigrants. Despite its 37 million population, Canada is one of the safest countries in the world. Little wonder it is now home to several foreigners. Though the country has English and French as its official languages, there are many other languages spoken by residents.

With its status as the second-largest country in the world, it is a given that Canada has a range of climate conditions. Most parts of the country experience 4 seasons. Below temperatures are common during winter going to – 20 C easily in some provinces. Hot summers are common as well. 

Regardless, Canada is a great choice if you are looking to relocate. However, before that, here are a few things you might find noteworthy!

1. First Steps Upon Planning a Move to Canada

If moving to Canada is the next to do on your bucket list, the first thing you must do is determine why you want to relocate. This will guide you in the immigration application, which offers different options. 

After identifying what method you would like to apply through, fill out the necessary forms relevant to your application. If you are applying through Express Entry, you can create a profile online, which will make the process faster. For other options, all you have to do is complete your forms and mail your application to officials in Canada.

For your visa application, you could use any of the following methods.

Express Entry Visa

The Express Entry Visa is most suitable for professionals and skilled trade workers who have at least one year of full-time work experience.  When applying through this method, your age, education, and field you work in will be considered.

Business Start-Up or Investment Visa

The Start-up Visa Program is recommended for entrepreneurs and business owners who wish to relocate to Canada. Investors with a minimum net worth of $10 million can also apply for immigration through this method.

Family Sponsorship Visa

If you have a family member who is already a resident in Canada and can sponsor your immigration, the Family Sponsorship Visa is best advised for you. If your spouse is a citizen or has been given permanent residence, you should apply through this visa.

Self-Employed Visa

The name of the Self-Employed Visa says it all. You need to be self-employed. But this is not the only requirement, you’ll need to score a certain amount of points on a selection grid made to determine if you’ll make a contribution (economic, cultural or athletic) to Canada.

Caregivers Visa

The Caregivers Visa is suitable for people who plan to be caregivers to a Canadian citizen or someone that lives in the country. You can become a permanent resident through this route or simply work temporarily.

2. What should I look for in an International Moving Company?

You can easily move your things from New Zealand to Canada by air, but make sure the moving company you hire is reliable and trustworthy. When opting for an international moving company, here’s what you should look for:

  • Insurance is included (Always ask what’s included).
  • Rates are not extravagant (Get quotes from multiple moving companies).
  • They have good reviews.
  • Excellent customer service and transparency are their priorities.

3. How Can I Ship my Car to Canada?

If you are a car owner planning to relocate to Canada, you have to decide what to do with your vehicle. You can get rid of your car by selling it before you leave New Zealand. Your second option is, however, having the car shipped to you by a car shipping company.

With this in mind, shipping can be a great option. However, how easy is it to find a reliable car shipping company that will safely transport your car?

  • Since you will be a newbie in Canada, finding the right shipping company for you might be a bit of a task. However, several car shipping companies offer the best services at great prices.

4. What are the first steps to take upon my arrival in Canada?

After arriving in Canada, you must quickly sort out some things that will make your stay a lot better. Below is a list of the first steps you should take after getting to your new location.

Driver’s Licence

Since you are coming from New Zealand, you get to use your valid foreign full licence for at least 60 days before you are required to exchange it for the driving licence used in your new province. You’ll want to get more details from the government of your province. You should still get an International Driving Permit before leaving New Zealand which will give you an official translation. This is especially useful if you move to Quebec where the first language is French.

Having a full foreign licence also means that you don’t have to take the regular driving lessons, provided you have proof of at least two years of driving experience. However, despite the free pass you might have in your first few months, you will eventually be required to trade your foreign licence and require some essential documents. An original ID card, proof of driving experience, your current licence, and an application fee are documents that may be required for the exchange, depending on your province.

Healthcare

Understanding the healthcare options available to you in your new location is as important as any other decisions you can make. The Canadian government runs a publicly funded Health Care System. This means taxpayers in the country mostly fund medical bills.

To register for Canadian healthcare, you are required to apply for a health card in your province. You, however, have to have lived in the country for three months before you become eligible to apply. To complete your health care registration, you would need to fill a health care coverage form, provide an ID card and documents proving that you are a permanent resident of Canada and a full-time one.

Financial Services

As you settle down in your new location, you must have easy access to your savings, and this might require setting up a bank account. Though the law does not make it mandatory for intending workers to have a Canadian bank account, most organizations prefer their workers to have one. This makes the process of paying salaries and removing taxes easier.

While every bank has its own specific requirement, opening a bank account generally requires providing documents such as:

  • Immigration papers
  • Proof of permanent resident
  • A valid passport
  • Social Identification Number

5. Utilities Setup in Canada

Like thousands of immigrants across Canada, you will be saddled with the problem of figuring out how to set up utilities upon your arrival in the country.

Electricity

To get started with your electricity setup, go online to search for energy providers in your district. After going through the list, check out their rates and pick the one most suitable for you. Some provinces only have one provider legislated by provincial laws.

Next, go to the provider’s website and set up a profile. While doing this, you will be required to enter your home address and contact details alongside some other info. Some provinces offers energy tracking app to help you with your electricity consumption.

6. Internet Setup in Canada

As earlier mentioned, setting up utilities requires some research on your part. Check out some of the best internet providers online and choose the best one that best suits your needs. Whether you want Satellite Internet or an Alternative Internet Service Provider, Canada has many great companies with great bundles offer for TV and Phone as well. Some of the most popular providers in the country include Bell, Shaw, Videotron, Cogeco, Telus, Rogers and many others.

7. The essential insurance coverage in Canada

Health Insurance

New immigrants often have a waiting period before they can apply for healthcare insurance. This often leads many to temporarily using private insurance while their interim period expires.

Home Insurance

Even as a tenant, immigrants need home insurance. To get yours, make sure to find out about the different insurance companies available and how you can save money.

Car Insurance

If you had your car shipped, it is advisable to have it insured in case of any accidents. Once again, be sure to do proper research and pick the car insurance that works best for you.

8. What Is the Cost of Living in Canada?

Though it varies from city to city, the general cost of living in Canada is similar to New Zealand. Everything depends on how $ 1 NZD is worth in $ CAD. In Toronto, the most populous city in the country, renting a one bedroom apartment would average $1467.

Also, you are expected to spend an average of $125 and $65 respectively for your electricity and internet bills. Depending on the service provider, phone bills are expected to average between $70 to $90 monthly.

In Montreal, the cost of living is relatively cheaper when compared to Toronto. To get a decent one-bedroom in this part of the country, you will spend an average of $1285. Electricity bills are not that expensive, with an average of $75 monthly.

Like Toronto, living in Vancouver can be expensive. With a one-bedroom apartment averaging $1869 and a monthly electricity bill reaching $124, Vancouver is one of Canada’s most expensive cities.

To get more information on the Cost of Living of different Canadian cities:

9. How do I Find an Apartment or a Home in Canada?

Finding a suitable apartment in your new location is very important. Since you are new to the area, here are a few suggestions based on several factors.

If you are a young unmarried person looking to find an apartment in Toronto, neighborhoods like Younge-Eglinton, Liberty Village, and King West are highly recommended. These areas are characterized by a spirited nightlife, cozy apartments, and a large concentration of young professionals. Indeed, you will get the best of the youthful energy readily available in these places.

If Montreal is your choice of location as a young person, areas like Hochelaga, Plateau Mont-Royal, and Griffintown will do the magic for you. Families might prefer Villeray, Rosemont or the suburbs.

In Vancouver, you would find more young people in neighborhoods like Gastown, Yaletown, and Kitsilano. If you are in tune with the youthful things of life, these are perfect locations for you.

While hunting for apartments, you will find out that there are different types of apartments ranging from a single room to those with one bedroom and more. To aid your search, you might want to keep an eye out for newspaper ads and listings on local websites or Facebook Marketplace.

As for home buying, you can visit websites or tools that will help you find your next neighborhood.

10. Where can I Shop for Groceries?

As a new resident of Canada, one of the first things you will want to figure is where’s the closest grocery store. It is essential to locate reliable stores where you can make your day-to-day purchases.

Loblaws is a big player all through Canada with chains such as No Frills, Real Canadian Superstores and Provigo. Another player with many different banners is Sobeys. Metro is better known in Quebec and Ontario. Walmart and Costco can also get you all your grocery needs.

11. What Can I Expect From My New Life in Canada?

Changing your location is never an easy thing. Even more, changing your country of residence is even harder. However, with all of the amazing things Canada has to offer, be rest assured that in the end, all of the stress would be worth it. Cheers to a new life!

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11 Things to Know Before Moving from Australia to Canada

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11 Things to Know Before Moving From Australia to Canada

Known for its many excellent benefits for residents, Canada has gradually become a top destination for immigrants. Despite its 37 million population, Canada is one of the safest countries in the world. Little wonder it is now home to several foreigners. Though the country has English and French as its official languages, there are many other languages spoken by residents.

With its status as the second-largest country in the world, it is a given that Canada has a range of climate conditions. Most parts of the country experience 4 seasons. Below temperatures are common during winter going to – 20 C easily in some provinces. Hot summers are common as well. 

Regardless, Canada is a great choice if you are looking to relocate. However, before that, here are a few things you might find noteworthy!

1. First Steps Upon Planning a Move to Canada

If moving to Canada is next on your bucket list, the first thing you must do is determine why you want to relocate. This will guide you in the immigration application, which offers different options. 

After identifying what method you would like to apply through, fill out the necessary forms relevant to your application. If you are applying through Express Entry, you can create a profile online, which will make the process faster. For other options, all you have to do is complete your forms and mail your application to officials in Canada.

For your visa application, you could use any of the following methods.

Express Entry Visa

The Express Entry Visa is most suitable for professionals and skilled trade workers who have at least one year of full-time work experience.  When applying through this method, your age, education, and field you work in will be considered.

Business Start-Up or Investment Visa

The Start-up Visa Program is recommended for entrepreneurs and business owners who wish to relocate to Canada. Investors with a minimum net worth of $10 million can also apply for immigration through this method.

Family Sponsorship Visa

If you have a family member who is already a resident in Canada and can sponsor your immigration, the Family Sponsorship Visa is best advised for you. If your spouse is a citizen or has been given permanent residence, you should apply through this visa.

Self-Employed Visa

The name of the Self-Employed Visa says it all. You need to be self-employed. But this is not the only requirement, you’ll need to score a certain amount of points on a selection grid made to determine if you’ll make a contribution (economic, cultural or athletic) to Canada.

Caregivers Visa

The Caregivers Visa is suitable for people who plan to be caregivers to a Canadian citizen or someone that lives in the country. You can become a permanent resident through this route or simply work temporarily.

2. What should I look for in an International Moving Company?

You can easily move your things from Australia to Canada by air, but make sure the moving company you hire is reliable and trustworthy. When opting for an international moving company, here’s what you should look for:

  • Insurance is included (Always ask what’s included).
  • Rates are not extravagant (Get quotes from multiple moving companies).
  • They have good reviews.
  • Excellent customer service and transparency are their priorities.

3. How Can I Ship my Car to Canada?

If you are a car owner planning to relocate to Canada, you have to decide what to do with your vehicle. You can get rid of your car by selling it before you leave the Australia. Your second option is, however, having the car shipped to you by a car shipping company.

Shipping can be a great option. However, how easy is it to find a reliable car shipping company that will safely transport your car?

  • Since you will be a newbie in Canada, finding the right shipping company for you might be a bit of a task. However, several car shipping companies offer the best services at great prices.

4. What are the first steps to take upon my arrival in Canada?

After arriving in Canada, you must quickly sort out some things that will make your stay a lot better. Below is a list of the first steps you should take after getting to your new location.

Driver’s Licence

Since you are coming from Australia, you get to use your valid foreign full licence for at least 60 days before you are required to exchange it for the driving licence used in your new province. You’ll want to get more details from the government of your province. You should still get an International Driving Permit before leaving Australia which will give you an official translation. This is especially useful if you move to Quebec where the first language is French.

Having a full foreign licence also means that you don’t have to take the regular driving lessons, provided you have proof of at least two years of driving experience. However, despite the free pass you might have in your first few months, you will eventually be required to trade your foreign licence and require some essential documents. An original ID card, proof of driving experience, your current licence, and an application fee are documents that may be required for the exchange, depending on your province.

Healthcare

Understanding the healthcare options available to you in your new location is as important as any other decisions you can make. The Canadian government runs a publicly funded Health Care System. This means taxpayers in the country mostly fund medical bills.

To register for Canadian healthcare, you are required to apply for a health card in your province. You, however, have to have lived in the country for three months before you become eligible to apply. To complete your health care registration, you would need to fill a health care coverage form, provide an ID card and documents proving that you are a permanent resident of Canada and a full-time one.

Financial Services

As you settle down in your new location, you must have easy access to your savings, and this might require setting up a bank account. Though the law does not make it mandatory for intending workers to have a Canadian bank account, most organizations prefer their workers to have one. This makes the process of paying salaries and removing taxes easier.

While every bank has its own specific requirement, opening a bank account generally requires providing documents such as:

  • Immigration papers
  • Proof of permanent resident
  • A valid passport
  • Social Identification Number

5. Utilities Setup in Canada

Like thousands of immigrants across Canada, you will be saddled with the problem of figuring out how to set up utilities upon your arrival in the country.

Electricity

To get started with your electricity setup, go online to search for energy providers in your district. After going through the list, check out their rates and pick the one most suitable for you. Some provinces only have one provider legislated by provincial laws.

Next, go to the provider’s website and set up a profile. While doing this, you will be required to enter your home address and contact details alongside some other info. Some provinces offers energy tracking app to help you with your electricity consumption.

6. Internet Setup in Canada

As earlier mentioned, setting up utilities requires some research on your part. Check out some of the best internet providers online and choose the best one that best suits your needs. Whether you want Satellite Internet or an Alternative Internet Service Provider, Canada has many great companies with great bundles offer for TV and Phone as well. Some of the most popular providers in the country include Bell, Shaw, Videotron, Cogeco, Telus, Rogers and many others.

7. The essential insurance coverage in Canada

Health Insurance

New immigrants often have a waiting period before they can apply for healthcare insurance. This often leads many to temporarily using private insurance while their interim period expires.

Home Insurance

Even as a tenant, immigrants need home insurance. To get yours, make sure to find out about the different insurance companies available and how you can save money.

Car Insurance

If you had your car shipped, it is advisable to have it insured in case of any accidents. Once again, be sure to do proper research and pick the car insurance that works best for you.

8. What Is the Cost of Living in Canada?

The general cost of living in Canada is around 17% cheaper than Australia. Everything depends on how $ 1 AUD is worth in $ CAD. In Toronto, the most populous city in the country, renting a one bedroom apartment would average $1467.

Also, you are expected to spend an average of $125 and $65 respectively for your electricity and internet bills. Depending on the service provider, phone bills are expected to average between $70 to $90 monthly.

In Montreal, the cost of living is relatively cheaper when compared to Toronto. To get a decent one-bedroom in this part of the country, you will spend an average of $1285. Electricity bills are not that expensive, with an average of $75 monthly.

Like Toronto, living in Vancouver can be expensive. With a one-bedroom apartment averaging $1869 and a monthly electricity bill reaching $124, Vancouver is one of Canada’s most expensive cities.

To get more information on the Cost of Living of different Canadian cities:

9. How do I Find an Apartment or a Home in Canada?

Finding a suitable apartment in your new location is very important. Since you are new to the area, here are a few suggestions based on several factors.

If you are a young unmarried person looking to find an apartment in Toronto, neighborhoods like Younge-Eglinton, Liberty Village, and King West are highly recommended. These areas are characterized by a spirited nightlife, cozy apartments, and a large concentration of young professionals. Indeed, you will get the best of the youthful energy readily available in these places.

If Montreal is your choice of location as a young person, areas like Hochelaga, Plateau Mont-Royal, and Griffintown will do the magic for you. Families might prefer Villeray, Rosemont or the suburbs.

In Vancouver, you would find more young people in neighborhoods like Gastown, Yaletown, and Kitsilano. If you are in tune with the youthful things of life, these are perfect locations for you.

While hunting for apartments, you will find out that there are different types of apartments ranging from a single room to those with one bedroom and more. To aid your search, you might want to keep an eye out for newspaper ads and listings on local websites or Facebook Marketplace.

As for home buying, you can visit websites or tools that will help you find your next neighborhood.

10. Where can I Shop for Groceries?

As a new resident of Canada, one of the first things you will want to figure is where’s the closest grocery store. It is essential to locate reliable stores where you can make your day-to-day purchases.

Loblaws is a big player all through Canada with chains such as No Frills, Real Canadian Superstores and Provigo. Another player with many different banners is Sobeys. Metro is better known in Quebec and Ontario. Walmart and Costco can also get you all your grocery needs.

11. What Can I Expect From My New Life in Canada?

Changing your location is never an easy thing. Even more, changing your country of residence is even harder. However, with all of the amazing things Canada has to offer, be rest assured that in the end, all of the stress would be worth it. Cheers to a new life!

Share this article on social media

Share on facebook
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Moving to Canada from the UK: Work Visa, Cost of Living, Jobs, and More!

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moving-to-canada-from-the-uk-mountain-lake

Company Description

moving-to-canada-from-the-uk-mountain-lake

Moving to Canada from the UK: Work Visa, Cost of Living, Jobs, and More!

Known for its many excellent benefits for residents, Canada has gradually become a top destination for immigrants, including UK citizens, in recent years. Despite its 38 million population, Canada is one of the safest countries in the world. Little wonder it is now home to several foreigners. Though the country has English and French as its official languages, residents speak many other languages.

With its status as the second-largest country in the world, it is a given that Canada has a range of climate conditions. Most parts of the country experienced 4 seasons. Below temperatures are common during winter going to – 25 C easily in some provinces. Humid summers are common as well. 

Regardless, Canada is a great choice if you are looking to move out of the UK. However, before that, here are a few things you might want to know about how to move to Canada from the UK.

Is Canada a Good Place to Live?

In recent years, Canada has become a popular destination for people worldwide looking for a better place to live, start a new career, and have great educational opportunities. Canada is a good place to live. It is a beautiful country with a diverse population, plenty of natural resources, and ample space for expansion. As a result of a low unemployment rate and a strong economy, the standard of living in Canada is generally high. People also prefer to move to Canada because of the public healthcare system every Canadian has access to.

Safety

According to the Global Peace Index, Canada remains the sixth safest country in the world since 2019. For internal conflicts, crime levels, and political stability, Canada’s scores were particularly good as well.

Natural Beauty

Canada is known for its stunning natural beauty. From the West Coast to the East Coast, breathtaking nature views can be observed.

Diversity

With over 21% of the population being immigrants, Canada is a very diverse country. At every corner of the street in major cities, you will find delicious food from all over the world.

Free Healthcare

Healthcare is free in Canada for all permanent residents and citizens, meaning that hospital and physician visits are free. Each province also has a medication program allowing its population to access medication at an affordable price. 

Canada Visa Requirements

Getting a visa is the most important requirement for moving to Canada from the UK. Depending on whether you’re moving to Canada for work or to move in with a family member, the type of visa you’ll need will differ.

Canada Work Visa

A Canada Work Permit, or a Work Visa, is issued to eligible overseas individuals to work in that country for a specific period. A Work Visa can only be applied for after a job offer, or employment contract is received from a Canadian employer. It is not necessary for everyone moving to Canada from the UK to have a work permit. However, it is necessary to determine whether you require a work permit before beginning the process. 

Canada has two types of work permits: employer-specific work permits, and open work permits. Citizens of the United Kingdom usually do not need a visa to visit Canada for a short time. For those with other types of British nationality or who intend to travel for an extended period (for example, for work), contact the Canadian High Commission for further information regarding entry requirements.

Working Holiday Visa Canada

International Experience Canada (IEC) Working Holiday Visa is a Canadian government program that allows people between 18 – 35 years of age from carefully selected countries to work in Canada. A Canadian IEC program is probably your best option if you’re under 30 and plan on moving to Canada from the UK. Recently, the demand for IEC has increased, making it a bit more challenging to obtain. You may also be able to become a temporary Canadian worker under the intra-company transfer program, or via the Canada-UK Trade Continuity Agreement, or by travelling under the Global Talent Stream, which offers fast-track work permits for certain occupations, namely tech.

Canada Student Visa

Usually, a Canada Student Visa or study permit is valid for the duration of your program of study plus 90 additional days. During your 90 days in Canada, you can prepare to leave the country or extend your stay. If you are moving to Canada from the UK, you can obtain a Canada student visa if you are enrolled at a designated learning institution (DLI). You must show that you have enough funds to cover tuition fees and living expenses for yourself and any family members who accompany you to Canada.

Among other eligibility requirements, you also have to prove you can cover the costs of the return transportation for you and any family members accompanying you to Canada. Your study permit may include conditions such as whether you can work in Canada, whether you can travel in Canada, the specific date when you must leave Canada, where you may study (a specific DLI listed on your permit), and whether you must submit to an immigration medical exam.

Spouse Visa Canada

The Spouse Visa Canada allows you to sponsor your spouse, partner, or dependent children to become permanent residents of Canada. If you do, you must be able to support them financially and make sure they don’t need social assistance from the government. You can sponsor your spouse, partner, or dependent child if you’re at least 18 years old and you’re a Canadian citizen, a permanent resident of Canada. 

If you’re a Canadian citizen living outside Canada, you must show that you plan to live in Canada when the persons you want to sponsor become permanent residents. You are also eligible for this if you’re able to prove that you’re not receiving social assistance for reasons other than a disability, and you can provide for the basic needs of any persons you want to sponsor. Also, note that your spouse must be legally married to you and be at least 18 years old. 

Canada Visa Processing Time

The Canada Visa Processing Time will vary depending on the visa type and time of application. The processing time starts when the immigration centre receives your complete application and ends when they decide. Typically, Canada work or study permit processing times are between 10 and 12 weeks. If you apply by mail, the time starts when your application arrives in their mailroom. If you apply online or in person, it starts when you submit your application. Most processing times are historical, meaning they’re measured based on how long it took to process 80% of applications in the past. For some permanent resident applicants who have not applied yet, their processing times are projected, meaning the centre measures them based on how quickly they expect to process 80% of the applications.

Cost of Living in Canada vs the UK

living-in-canada-house

The cost of living in Canada is nearly identical to the cost of living in the UK. The cost of living for one person in Canada is £1193 ($2031), whereas it’s £1115 ($1900) per month in the UK.

Category

Average cost UK 

Average cost Canada

Variation 

Rent price 

1-bed flat outside the city centre

£619

($1053)

£670 

($1140)

Rent is 7.9% more expensive in Canada.  

Utilities

£154 

($263)

£183 

($311)

Utilities are 17% more expensive in Canada.

Groceries

£175

($300)

£175 

($300)

Groceries cost the same in Canada and the UK.

Mobile phone plan

£47 

($80)

£60 

($101)

Mobile phone plans are 24% cheaper in the UK. 

Supper in a mid-range restaurant

£25

($43)

£22 

($38)

Supper in a mid-range restaurant is 12.77% cheaper in Canada. 

Transit pass

£65

($110)

£53

($90)

Transit passes are 20% more  expensive in the UK.

Gym membership

£30

($51)

£30 

($51)

Gym memberships cost the same in the UK and Canada.

Total

£1115

($1900)

£1193 

($2031)

The cost of living in Canada is 6.75% more expensive than in the UK.

 (*Numbeo Canada, Numbeo UK, MovingWaldo, CRTC, TFL, Expatica & Internations, NimbleFins)

Canada's Taxes

Canada has some of the highest sales and income taxes in the world. Provincial/territorial income taxes vary by province and range from 4% to 25.75%. Canada’s sales taxes also vary by province and range from 5% to 15%.

Province

Sales Tax Rates

Income Tax Rates

Alberta

5%

10% on the first $131,220 of taxable income, +

12% on the next $26,244, +

13% on the next $52,488, +

14% on the next $104,976, +

15% on the amount over $314,928

British Columbia

12%

5.06% on the first $42,184 of taxable income, +

7.7% on the next $42,185, +

10.5% on the next $12,497, +

12.29% on the next $20,757, +

14.7% on the next $41,860, +

16.8% on the next $62,937, +

20.5% on the amount over $222,420

Manitoba

12%

10.8% on the first $33,723 of taxable income, +

12.75% on the next $39,162, +

17.4% on the amount over $72,885

New Brunswick

15%

9.68% on the first $43,835 of taxable income, +

14.82% on the next $43,836, +

16.52% on the next $54,863, +

17.84% on the next $19,849, +

20.3% on the amount over $162,383

Newfoundland and Labrador

15%

8.7% on the first $38,081 of taxable income, +

14.5% on the next $38,080, +

15.8% on the next $59,812, +

17.3% on the next $54,390, +

18.3% on the amount over $190,363

Nova Scotia

15%

8.79% on the first $29,590 of taxable income, +

14.95% on the next $29,590, +

16.67% on the next $33,820, +

17.5% on the next $57,000, +

21% on the amount over $150,000

Ontario

13%

5.05% on the first $45,142 of taxable income, +

9.15% on the next $45,145, +

11.16% on the next $59,713, +

12.16% on the next $70,000, +

13.16% on the amount over $220,000

Prince Edward Island

15%

9.8% on the first $31,984 of taxable income, +

13.8% on the next $31,985, +

16.7% on the amount over $63,969

Quebec

14.97%

$45,105 or less: 5%

More than $45,105 but not more than $90,200: 20%

More than $90,200 but not more than $109,755: 24%

More than $109,755: 25.75%

Saskatchewan

11%

10.5% on the first $45,677 of taxable income, +

12.5% on the next $84,829, +

14.5% on the amount over $130,506

Northwest Territories

5%

5.9% on the first $44,396 of taxable income, +

8.6% on the next $44,400, +

12.2% on the next $55,566, +

14.05% on the amount over $144,362

Nunavut

5%

4% on the first $46,740 of taxable income, +

7% on the next $46,740, +

9% on the next $58,498, +

11.5% on the amount over $151,978

Yukon

5%

6.4% on the first $49,020 of taxable income, +

9% on the next $49,020, +

10.9% on the next $53,938, +

12.8% on the next $348,022, +

15% on the amount over $500,000

Federal Income Tax Rates

In addition to provincial/territorial tax rates, salaries in Canada are subject to federal income tax rates. On average, Canadians are taxed 15% to 33% in federal income taxes on their salaries. 

  • The first $49 020 of taxable income is taxed at 15%.
  • The next $49 020 is taxed 20.5% (up to $98 040).
  • The next $53 939 is taxed 26% (up to $151 978 based on a taxable income of over $98 040).
  • The next $64 533 is taxed 29% (up to $216 511 on taxable income of over $151 978).
  • In addition to 33% being taxed on incomes over $216 511. 

(*Canada)

Healthcare in Canada

Canada offers free healthcare to its residents and citizens. Healthcare in Canada is free for doctor visits and hospital visits, but while the medicine is partly covered, it’s not free. When moving to Canada from the UK, you will not be automatically eligible for Canada’s free healthcare unless you are a permanent resident. If you are moving to Canada temporarily, you will have to purchase private health insurance. 

In-Demand Jobs in Canada

There are many jobs in Canada for UK citizens and more so in specific sectors. Here are the most in-demand jobs in some of Canada’s major provinces:

Ontario

  • Industrial painters
  • Industrial butchers
  • Machine operators (specifically for mineral and metal processing)
  • Agriculturists and harvesters
  • Truck drivers
  • Orderlies and nurse assistants
  • Residential installers 
 

Quebec

  • It technicians
  • Orderlies and nurse assistants
  • Electrical engineers
  • Welders
  • Nurses
  • Early childhood educators
  • Media developers
  • Civil engineering technicians
 

British Columbia

  • Carpenters
  • Hairdressers and barbers
  • Construction workers
  • Mechanics 
  • Cooks
  • Heavy equipment operators
  • Mechanics and millwrights in construction
  • Welders
  • Electricians
  • Bakers
 

Alberta 

  • Truck drivers
  • Administrative assistants
  • Receptionists
  • Early childhood educators
  • Administrative officers
  • Homebuilders and renovation managers
  • General office workers
  • Accounting technicians and bookkeepers
  • Oil sands labourers
  • Anesthesiologists

(*Jobboom, Immigration.ca & WorkBC)

Canada Minimum Wage (2021)

The average minimum wage in Canada is $15 (£8.79) per hour. Below is a chart with the minimum wage in each province/territory.

Province

Minimum Wage (per hour)

Alberta

$15.00 

British Columbia

$15.20

Manitoba

$11.95

New Brunswick

$11.75

Newfoundland and Labrador

$12.50

Nova Scotia

$12.95

Ontario

$14.35

Prince Edward Island

$13.00

Quebec

$13.50

Saskatchewan

$11.81

Northwest Territories

$15.20

Nunavut

$16.00

Yukon

$15.20

(*Savvy New Canadians & JDSUPRA)

Average Salary in Canada

The average salary in Canada is around $54 000 (£31 667) per year. Below is a chart with the average salary in each province/territory.

Province

Average Salary

Alberta

$61 865

British Columbia

$53 416

Manitoba

$49 661

New Brunswick

$49 511

Newfoundland and Labrador

$55 508

Nova Scotia

$48 470

Ontario

$55 524

Prince Edward Island

$45 912

Quebec

$51 735

Saskatchewan

$54 371

Northwest Territories

$77 670

Nunavut

$87 355

Yukon

$61 812

(*Insurdinary & Canada Visa)

Best Cities to Live in Canada

The best cities to live in Canada have relatively affordable housing, are safe, will keep you entertained, have good schools, have good job opportunities, and are family-friendly. 

  1. Ottawa, Ontario
  2. Calgary, Alberta
  3. Burlington, Ontario 
  4. Quebec City, Quebec 
  5. Saskatoon, Saskatchewan

Canada Real Estate

People, especially homebuyers, shouldn’t be surprised that housing prices have been steadily rising in Canada. There has been a 375% increase in home prices nationwide over the past two decades, while in hot markets such as Toronto and Vancouver, the increase has been even greater, at 450% to 490 %, respectively. According to the Canadian Real Estate Association, the average price of a home today is $686 650 (£402 879) in Canada. House prices jump to $887 290 (£520 601) in Ontario and to $913 471(£535 963) in British Columbia. Even smaller markets such as Tillsonburg, Ontario, or Bancroft, Ontario, see rising home prices as remote workers and families move out of the cities to less crowded areas.

House Prices in Canada

The average house price in Canada is $686 650 (£402 879). Below is a chart with the average house price in each province/territory. 

Province

Average House Price 

Alberta

$401 705

British Columbia

$913 471

Manitoba

$321 504

New Brunswick

$262 200

Newfoundland and Labrador

$321 700

Nova Scotia

$356 757

Ontario

$887 290

Prince Edward Island

$335 202

Quebec

$459 955

Saskatchewan

$286 600

Northwest Territories

$360 030

Nunavut

$641 831

Yukon

$542 515

(*National Post, Canadian Real Estate Wealth, Nunavut News & Canada Real Estate Association)

Canada’s Weather

canada-weather

The average weather in Canada during summer is 22°C, and during winter it is -7°C. 

Average weather during the summer and winter across Canada 

Province

Summer Temperature

Winter Temperature

Alberta

22°C

-10°C

British Columbia

25°C

7°C

Manitoba

21°C

-14°C

New Brunswick

24°C

2°C

Newfoundland and Labrador

25°C

0°C

Nova Scotia

24°C

-4°C

Ontario

25°C

-5°C

Prince Edward Island

24°C

-7°C

Quebec

24°C

-11°C

Saskatchewan

24°C

5°C

Northwest Territories

19°C

-10°C

Nunavut

9°C

-22°C

Yukon

19°C

-14°C

Canada’s Snow

Canada is undoubtedly one of the coldest habitable regions in the world. If you are moving to Canada from the UK, you can expect even more snow and cold than you are used to in the United Kingdom. Over two meters of snow falls on ten of Canada’s largest cities every year. Most of the snowiest cities are spread throughout Central Canada and the Maritime Provinces. As Canada’s snowiest large cities, St. John’s, Newfoundland, Saguenay, and Quebec lead the list. Snowfall in St. John’s is the highest, but in Saguenay, fresh snow falls on most days.

Canada’s Driving License

Depending on the province you’re moving to, you will be required to exchange your driving license for a provincial or territorial one between 90 days to 6 months upon your arrival. When it comes to driving in Canada, each province has its organisation that deals with driving licenses and vehicle registrations. For example, in Quebec, it’s the SAAQ, and in British Columbia, it’s the ICBC

Varying by province, Canada has a set of Distracted Driving Laws that include consequences for the following actions while driving:

  • Talking on a handheld device
  • Texting while driving
  • Reading
  • Watching videos
  • Programming a GPS
  • Eating or drinking
  • Grooming
  • Smoking or vaping

Shipping from the UK to Canada

To ship your things from the UK to Canada, you have 2 options:

  1. Ship them by plane: a good option if you’re starting fresh and will only be bringing a few things with you.
  2. Ship them by hiring an international moving company. This is your best option if you have a bigger budget and a lot of things. When searching for an international moving company, make sure that insurance is included. Their prices aren’t extravagant (get many quotes), they have good Google reviews and excellent customer service.

What to Expect from Your New Life in Canada

Canada is a safe country that is filled with stunning natural beauty and plenty of job opportunities. Expect chilly winters, high costs of living in major cities, and don’t text and drive!

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List My Property: How to Sell My House Fast?

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List My Property: How to Sell My House Fast?

If you want to sell your home fast in Canada, certain steps should be taken to get the best possible price for the property. Contrary to the views held by many, selling a property requires a little bit of work from the owner, and it takes time depending on the nature of the house, the season, and the location. Even the economic climate of the time also determines how long the house will remain in the market.

Everything You Need to Know on Listing your Property

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Settle How Your Going to List the Property

After doing your research, the next step in the listing process is to decide how you want to sell the property. Do you want to sell it yourself or sell with the help of a real estate agent?

Option 1: Hire a Real Estate Agent

If you decide to hire a real estate agent, you need to go for a professional with experience in the local market. The agent will take the burden off you and handle the listing every step of the way. However, this will raise the cost of selling a house since you will have to pay him an agent’s commission after closing the sale.

The first option open to homeowners looking to sell off their properties is to hire a real estate agent to market and handle the sale transaction of the property. To sell your home on time, the location of the real estate agent matters. If you give it to just any agent domiciled in a far-off city or an agent who doesn’t operate in the local area where the house is located, it will take a long time to find buyers.

The best play is to give it to an agent who knows the local market and one who markets similar properties like yours.

How to Choose a Great Realtor?

Finding a realtor is not hard. The tricky path is finding a great realtor who knows the real estate market well and operates with a high degree of professionalism. Here are some steps to choose a great realtor for your property sale.

Check Out the Local Housing Market in Person

You can check out the local housing market yourself. If you want to sell your home quickly, this is one step you will take. Doing a quick search yourself will give you a fair idea about how agents operate and where they are based.

Talk to an Agent in Person at an Open House

Another way to find a good realtor is to visit an open house. Open House events attract realtors in the area, and this is one of the best places to find a good realtor to market your own property. Simply walk into an open house and interact with the people present. In no time, you will come across one or more agents that you can establish contact with. Then proceed from there to schedule an appointment with the agent.

Compare Real Estate Agents Online

To increase your chances of getting a very good realtor, you can do it the tried and tested way by searching for one online. There are online realtors and platforms that bring sellers and buyers into close contact with realtors. Online platforms expose you to a significant number of realtors operating in your local area. With more than a few of them available, you can then compare the quality of their services and their rates to identify the agent whose service will serve your best interest.

Get a Referral

You may also choose to do it the traditional way by using referrals. Talk to friends, family, and work colleagues about your needs. Some of them may refer you to a reliable agent you can work with.

How Much Does Finding a Good Realtor Cost?

It costs nothing to find a good realtor. All the tips listed above are free. To improve your chances of finding a very good agent, consider using two or more of these tips.

Option 2: Sell Your House on Your Own

The second option is to sell off the property yourself. As the homeowner, you can market the property yourself. If you do this, the cost of selling a house will reduce since you will not be paying an agent any commission from the sale. As a homeowner looking to sell, all you need to do is advertise your property for sale using real estate websites and any other marketing medium to get the word out.

One of the perks of doing it yourself is that you get to keep all the money made from the sale to yourself after tax deductions. However, there are certain steps you need to take to do this. Steps like listing the property for sale and engaging in marketing drives to attract potential buyers. Steps that a real estate agent would have undertaken have to be carried out by you. Fortunately, there are platforms where you can list your house for sale for free to attract buyers online.

How to List a Property by Yourself?

Here are steps to take if you want to list your house for sale for free.

Know the Local Housing Market

The first thing you need to do is to study your local market. When does the market attract a large number of buyers? When is the best time to sell a house? If you know your local market well, you will be in the best position to map out a strategic plan that will earn you the selling price you want.

Get the Right Papers

Get the right documents required to effect a successful sale. Leave nothing to chance as far as documentation is concerned. If some of your documents have expired, take steps to update them. If there is a need to do a property appraisal, pay for one. Having documentary evidence that proves the property’s value will make your asking price more authentic, and buyers will take you seriously.

Visit Websites that Can Help You Sell Your Home

You don’t have to pay for a house listing if you can do it for free. If you want to list your house for sale for free, you can make use of free online platforms. There are more than a few free online hosting sites you can take advantage of. Some of which are : 

Things to Consider When Listing a Property

When listing a property for sale, there are quite a few things to consider before and during the listing. To close the sale, the right things have to be done as well as they should be. Here are some of the things to consider when listing a property to find how much your property is worth.

The Reasons You Are Selling Your House

The first thing you need to do is first identify the reasons you want to sell the house. Are you looking to sell so that you can use the money to refinance a new property purchase? Has the home outlived its usefulness, and are you looking to move it on? Or maybe the house has become too small for your family and lacks certain amenities, and it will cost you too much to upgrade it. Your reasons for selling the house matters a lot. If you want to sell your home, it is necessary to weigh the pros and cons of your action in order to decide whether selling it off or keeping it as an investment is a worthy course of action.

Research Your Local Housing Market

You need to research your local market. The best time to sell homes in Canada is during summer. During this time of the year, many people change houses because the weather is conducive for moves. During this period, demand for housing tends to rise. However, beyond the general real estate market, you need to pay close attention to the local housing market in your area. How much do homes like your sell for? What is the demand like? Is it a buyer’s market or a seller’s market? 

If it is a buyer’s market, you will not get a high price for it, but selling for a premium price is a possibility if it is a seller’s market. Researching your local market will help you understand what buyers are looking for and what properties like yours are going for.

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What Are the Fees Included in Selling a Property?

There are certain fees you need to bear in mind if you are looking to sell off your house. These fees vary, and you may or may not incur them depending on the current state of the property. We discuss some of them below.

Agent Commission

Agent commissions are fees paid to real estate agents after a sale transaction is complete. As a seller, you are not liable to pay this fee until the sale is closed and your account has been credited with the funds by the buyer. Commission fees are deducted from the proceeds and paid to the agent. In Canada, the commission rate ranges from 3%-7% of the total selling price, but this rate is negotiable.

Repair Cost

Repairs have to be factored into the cost of selling a house if the house requires refurbishment. Homes with broken pipes, leaking roofs, and mould-infested walls will not attract a good price in the market even if any buyer comes along. The appearance of the house matters, which is why sellers leave no stone unturned to improve the property before they put it on the market. If the plumbing or wiring is bad, you need to hire professionals to fix the issues. The walls can be painted to give it a new look. Homes with lawns are always more appealing if it has been mowed and the gardens have been trimmed. Improving the quality of the interior and exterior will eventually turn in a high return on investment.

Home Staging

Staging the home so prospective buyers can walk in to evaluate the property is one effective way to list and sell off a house, but this requires extra cost. Rather than advertise your home on public mediums, you may choose to market it directly to interested buyers by staging it. Home staging entails furnishing the house tastefully. The expenses of home staging can be added to the selling fees at the end when you sell your home.

Closing Costs

There are costs involved in closing a sale. In Canada, these costs are both provincial and municipal.  Some closing costs to bear in mind include insurance title fees, inspection costs, property transfer tax, provincial and municipal tax, etc. On average, the closing cost may fall between 1.5%-4%. While this fee may seem low, the closing cost may end up costing you several thousands of dollars when you consider the total selling price.

Real Estate Commission

You might have been wondering how commissions really work when listing your home with an agent. The process is relatively straightforward. Real estate agents do not typically charge sellers or buyers by the hour. Rather, they charge a percentage of the selling price as commission. These commissions are clearly spelled out in the agent contract between the agent and the clients. You also have to understand that in a scenario where the buyer and seller both have agents, the commission fee will be split between both agents. However, the split is hardly ever equal. In most cases, one agent receives a higher chunk of the fee as agreed in the contract.

How to Prepare Your Property to Sell It?

Regardless of whether you want to sell your home yourself or through an agent, there are certain steps you need to take to prepare the property for sale and to evaluate the worth. Here are some of the steps to take before you even advertise your property for sale on the open market.

Make Final Renovations and Adjustments if Needed

Before listing the property, final renovations need to be done and finishing touches put in place. If you are doing a home staging, for instance, you may have to rearrange the furniture to make the home more welcoming. If you expect a significant number of visitors, the living room outlay and many other features can be adjusted to create extra space. If repair work was done on the property, the work area needs to be cleared of debris and cleaned.

Clean Your Space

In fact, cleaning your space after the repair work is complete is important. Even if repairs were not carried out, the house needs to be the cleanest. A dirty home is a major turnoff for buyers, and you wouldn’t want to make a negative first impression as your visitors begin to walk in. Leave nothing to chance before you market the property. Pay close attention not only to the interior but to the exterior areas as well.

Gather Necessary Documents

All the necessary property documents should be organized in a file. The last thing you want is to be under pressure when a buyer asks you for a particular document. If there are quite a few of them, organize them well for easy and quick access.

Find a Real Estate Agent

Another thing you ought to do is to look for a real estate agent to handle the marketing and sale for you (if you don’t want to market it yourself). When searching for agents, limit your search to local agents operating in the area where your property is located.

Conclusion

To sell your home, there are two general ways to do it. By listing it with a real estate agent or by selling it yourself. Both methods are effective but selling through an agent makes the process faster because agents know the market well, and they also know where the buyers are. However, using the services of a listing agent will raise the cost of selling a house significantly. At the end of the day, there really isn’t a best way to sell your home as both methods have their pros and cons. What we do advise is that you use the method that offers you the greatest advantage.

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Evaluate my Property: How Much Is my Property Worth?

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Evaluate my Property: How Much Is My Property Worth?

If you are thinking of listing your property in the near future, it will be ideal to do a property value assessment. A property assessment will let you know with a great deal of certainty just how much your property is worth. Even if you don’t plan to sell the house at all, knowing its worth is not a bad idea. Fortunately, there are so many ways to evaluate property using proven techniques and methods. One way is to use online resources like house value estimate tools. These tools are easy to use and provide users with near-accurate results.

Another way to do a property value assessment is to use the services of a professional home appraiser. Professional appraisers evaluate the value of real estate and provide clients with the true value of their homes. In this article, we will address all you need to know about property valuation in Canada and all the steps you need to take to evaluate your property.

Everything You Need to Know on Evaluating your Property

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What Is a Home Appraisal?

A home appraisal is one of the major steps involved in the buying and selling of real estate. A home appraisal is simply an accurate and unbiased valuation of a property by a professional appraiser to determine your home value. Appraisals are necessary when a property is about to be bought or sold in a refinanced arrangement. In a purchase and sale situation, sellers and financiers use appraisals to determine whether the house’s selling price in question is worth the value when the features, current conditions, and location of the property are factored in. 

Lenders in the real estate industry rely on appraisals to be certain that they are not handing over more money to borrowers than what the house they are looking to buy is worth.

The Appraisal Process and Property Value Estimation

Essentially, appraisals are house value estimates that tell the true story of a house’s worth. In most cases, lenders request for this document, but it is the borrower looking to close a real estate deal that pays for it. There are professional real estate appraisers who evaluate property using different metrics. The professional appraiser contracted to do a property evaluation relies on the following to do an accurate house value estimate.

  • The selling price of similar properties in the area
  • Amenities in the house and key physical features
  • Structural conditions of the interior and exterior space
  • Current nature of the surrounding area

In a home appraisal document, the report must include the following data

  • A sketch of the property’s exterior
  • The surrounding streets 
  • Data from public land records, tax records, sales data
  • Pictures of comparable properties used 

Ideally, appraisals are very important for the buyer looking to buy the house and the lender who will provide the funds to close the sale. Without an appraisal showing the house’s true value, the lender will likely not release the funds to close the sale since there is no way of knowing if the amount the borrower is looking to borrow is worth the value of the house he or she wants to buy.

Importance of a Home Appraisal

Appraisals are important because they protect your investments. As a buyer, they ensure that you do not overpay for a property, but if the property is yours, appraisals let you know just how much your house is worth on the open market. On a general note, appraisals prevent an over-valuation of real estate by sellers. With this document, securing financing for a home purchase is easy provided other requirements are met.

When Should a Home Appraisal Be Done?

A home appraisal should be done after you have inspected a house you want to buy and an offer has been made. Appraisals are mostly paid for by buyers, not sellers.

How Can I Get an Appraisal on my House?

If you want to get an appraisal on your home, there are key steps you can take.

Step 1: Ask for Referrals for your Property Evaluation

The first thing you need to do is to ask for referrals. Even if you know of a professional appraiser, it pays to ask around to get more options. To get the best service, you may ask family, friends, or work colleagues if they know of a professional you can hire. You may also search for them online. Remember, you are looking for a professional who knows the local real estate market well enough, not just anybody operating outside your local area.

Step 2: Hire a Professional for your Property Evaluation

You want an expert who knows the job, so now is the time to review the experts you have found. You need to review their professional licenses, level of experience, and area of operation. Their professionalism and work ethic are also very important traits you want to look at before you make a final hiring decision. Once you have decided on the expert appraiser to hire, you can now move to the next step.

Step 3: Prepare your House for the Visit

Before the appraiser shows up at your doorstep, you want to make sure that your property is in order. Every minute detail matters, so make sure that you clean the interior and exterior area. Leave nothing to chance.

Step 4: Fix a Date

Fix a date with the appraiser but in the meantime, gather all the documents pertaining to the house. Every single piece of documentation you have since the day you took ownership of the property should be arranged in a file because the appraiser will rely on some of them to do the house value estimate.

Step 5: Review the Appraisal Report

After the appraisal is done, the report will be sent to you or your real estate agent if you are working with one. Take the time to review the report to understand why your home is worth what the report says. Reviewing the report will let you know if all the necessary factors were taken into account during the property evaluation process. Important factors should be taken into account should include 

  • The property itself
  • Proximity to social services
  • Road network, among other factors.

At this closing stage, you can now list your property up for sale using the value provided by the appraisal report. However, if you are not comfortable with the appraiser’s report, you may choose to get a second professional opinion to be sure.

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How Is the Value of my Property Evaluated?

Many homeowners do not know how their homes are evaluated, and they should. If I want to know my house is worth before listing it, these are the factors that the house value estimate will focus on.

The Exterior and Interior Condition

The current conditions of the interior and the exterior will be reviewed. The walls, roofs, floors, and the general physical environment will be evaluated as part of the property evaluation.

The Design Layout

The general layout of the house is another feature of importance. Are the rooms large enough? Is there easy access from one room to the other? Are the rooms well ventilated? These are some of the physical characteristics the appraiser will look at.

The Plumbing/HVAC System

The current state of the plumbing contributes to the total value of a house. If the plumbing is in good condition, this will reflect the final value of the house. If the plumbing requires minimal or extensive repairs, the value of the house will reduce. This is because plumbing costs money, and whoever will buy the property will have to fix the plumbing to make it habitable. And as you know, repairs cost money. The cooling system is another factor that determines the value of a property. If the HVAC system is in good functional condition, this alone can raise its value significantly. In need of a plumber to fix repairs to bring up the value of your property? Here’s a guide to choosing the best plumber.

Location and Other Amenities

The location of your home influences its value more than anything else. If the house is close to major road networks and surrounded by valuable real estate, landmarks, and social amenities like good schools, hospitals, and parks, you can be sure that many buyers will be willing to pay a good price for it. However, if the area is surrounded by old and worn-out buildings, bad roads, and little or no social amenities, the value will drop.

Tips to Get the Best Value for my Property

Several factors determine the value of your home, but there are certain things that can help increasing your home value or maintaining it. You might have to invest in some renovations which are ”hidden” fees to consider when selling your home. Here are some great tips to get the best value for your property. 

Always Fix Damages as Soon as They Occur

When any part of your property gets damaged, make sure you fix it as soon as possible. Leaving damages unrepaired may lead to further damages down the line. For instance, if you have a leaking pipe and do not fix it on time, this may lead to soaked walls and a weak foundation. Speedy fixing of damages will ensure that your house remains in good condition at all times.

Undertake Regular Renovations to Raise House Value

Don’t wait until the house is looking worse for wear before you renovate it. Have a renovation timeline and stick to it. If you’ve decided to renovate the house every 2-3 years, then stick to the timeline. Regular renovation will help you save money, especially if you do it in steps. You may choose to fix the plumbing first then repaint the walls at a later time. You may choose to fix your fence before growing a garden around the house. If you renovate the house periodically, it will remain new and well maintained.

Constant Cleaning

Cleaning the property, especially the surrounding area, is very important. Many homeowners only focus on the interior but pay little or no attention to the surrounding areas. This is not the way it should be. Should you decide to sell in the future, interested buyers will pay as much attention to the exterior as they will to the interior. Declutter the surrounding area by removing abandoned objects. Ensure that your living area is clean and waste-free. If you have a garden in your compound, ensure that there are no overhanging branches and overgrown weeds.

Helpful Tools to Get a First Free Home Appraisal

Hiring a professional home appraiser to evaluate your house’s value is one of the surest ways to get a house value estimate, but it is not the only way. You can also use a free home appraisal tool. This tool is easy to use, and you don’t have to pay for it. You can use it to get an almost accurate reading of your house’s value. Here are some very useful home appraisal tools you can use.

Royal Bank Home Value Estimator

The Royal Bank Home Value Estimator is an easy-to-use tool that helps you do a quick property evaluation. All you have to do is answer a few questions, and the platform will generate an estimated value for your home based on the data you inputted and historical real estate data for the area.

Zolo

Zolo is another home value calculator tool for generating instant home value estimates. When you log onto the site, you will be asked to enter the property’s address, and the platform will use several data to generate a current value for the property. The data used include the value of nearby homes, the value of properties similar to yours, Canadian Census data, etc.

Royal LePage

Royal LePage is a comprehensive property valuation tool for private users. From the comfort of your home, you can do a quick house value estimate. This platform has the resources to provide a near-accurate value of 90% of the residential real estate in Canada.

Wowa

Wowa Home Value Estimator is another one. This platform uses state-of-the-art algorithms and thousands of data points to estimate the value of properties in Canada. After providing the answers to the relevant questions, you will get your estimate in a matter of seconds.

Remax

Remax is Canada’s Leading Free Home Value Estimator platform. It is relatively easy to use, and you don’t require any special skills to run a value analysis of your property. Remax uses inbuilt resources in conjunction with external data to generate real estate property values.

Conclusion

It does not take rocket science to know just how much your property is worth. You can hire a professional appraiser to do the property evaluation for you so that you can get an accurate value, or you can use a free home evaluation tool. To sale your home fast, a home value appraiser will give you a fair idea of how much your property is worth. It will also place you in a strong position to negociate in the sellers market for your house should you decide to put it up for sale.

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Everything you Need to Know About Mortgage in Canada

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Everything you Need to Know About Mortgages in Canada

If you plan to buy a house now or in the nearest future, you need to know a little about the mortgage market and how it works. Important features like the best mortgage rates, the different types of rates, and mortgage payments are some of the few details you need to learn about if you want to end up with a very good real estate deal. In this article, we will discuss mortgages in detail and some steps to take to apply for a mortgage.

Get a Mortgage

Buying a house has certain implications, but none is as important as the financial cost of doing so. Most homeowners in Canada got their homes through mortgage financing. They approached a mortgage institution for a loan to fund their property acquisition. Getting a mortgage requires a lot of planning because the cost implication will live with you for years to come. Continue reading to find out all you need to know about mortgage financing and how to find the best mortgage rates in Canada.

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What Is a Mortgage?

A Mortgage is a loan issued by a lender to a borrower to purchase a real estate asset. The asset in question may be land or a house since land plots are also considered assets too. Most Mortgage tenures run for 25 years, but there are instances where the tenure may run for much longer depending on the agreement between the lender and the individual applying for the mortgage. Mortgages are secured loans that are tied to the value of the asset for which the loan was issued in the first place. 

Until the principal and interest are paid in full, the lender holds on to the property legally. After the loan has been paid off, the borrower assumes full ownership of the asset. However, in a case where there is a payment default, the lender has a power of attorney to sell off the property to a different person to recoup their investment.

What Do Years of Amortization Mean?

When applying for a mortgage, there are so many terms you will come across. One of them is amortization which is time-based. Amortization is the total period it will take you to pay up the mortgage issued to you by a lender. The concept of amortization is simply an estimated sum depending on the interest rate on the loan. When you amortize a mortgage debt, what it means in layman’s terms is that you are reducing the balance of the debt by paying off the principal and the interest on the loan according to pre-agreed schedules.

Now, in terms of amortization, interest rates are of two types.

Fixed Rates

A fixed rate mortgage entails reducing the principal and interest at a fixed rate for as long as the loan period lasts.

Adjustable Rates

An adjustable rate has a fluctuating rate of interest, unlike a fixed rate that is static. The rates under an adjustable scheme rise and fall during the lifecycle of the loan.

Types of Mortgage

Mortgages are classified based on their lifecycle. When you are applying for a mortgage to buy a home, the lender will ask you to pick the mortgage type you want. The tenure of the mortgage is an important thing to consider before deciding because it will determine just how much you will be charged as interest on the loan. Here are the three types of mortgages.

Short Term Mortgage

Most mortgage lenders in Canada issue short-term mortgages to qualified applicants that run for a tenure of 5 years or more but not more than 12 years. Short-term mortgage contracts have a shorter lifecycle, and they have the following features.

  • A variable or fixed interest rate
  • Attract the best interest rates
  • They have a much higher monthly installment payment.

Longer-Term Mortgage

The second type of mortgage is a longer-term mortgage with a tenure starting from 5 years and above. The average long-term mortgage contract in Canada runs for a maximum tenure of 25 years. If needed, a special arrangement can be reached between the parties involved. Longer term mortgages attract a lower monthly repayment due to the longer timeframe. This type of mortgage has the following features.

  • It is mostly issued at a fixed interest rate.
  • Monthly installment payments are much lower.
  • The interest rate hardly changes throughout the course of the tenure.
  • It attracts a significant penalty if the borrower resells the property within the first 5 years of the contract.

Convertible Term Mortgage

This type of mortgage is quite flexible. A holder of this type of mortgage can change his or her shorter-term mortgage to a longer term mortgage. Convertible mortgages are not as common as the first two, and they are only issued to qualified borrowers. Once the mortgagor change from a short-term to a long-term contract, the interest rate will change as well.

Fixed vs. Variable Mortgage

Most prospective homeowners looking to apply for a mortgage tend to keep a close eye on the interest rate tied to the loan, and you should do the same. Mortgages are issued based on two types of interest rates. A fixed rate and a variable rate. Before we establish the relationship between the two, let us give a brief overview of the two.

Fixed Rate Mortgage

A fixed rate mortgage has a static interest rate that does not change throughout the mortgage tenure. The rate for a fixed mortgage is not determined by private mortgage lenders but by the Canadian government’s bond yields. The rate does not change even if the bond yields do. If you go for this type of rate, you should expect to pay the same fixed amount throughout the mortgage tenure.

Pros

  • Provides financial security
  • Safer option in a volatile economy when interest rates rise sporadically

Cons

  • It can be disadvantageous if the difference between the pre-agreed fixed interest rate and the prevailing industry variable interest rate is significant.

Variable Rate Mortgage

A variable rate mortgage is the exact opposite of a fixed rate mortgage. This rate is determined by the prime rates of the Bank of Canada. Prime rates are interest rates paid to banks by borrowers for loans issued to them.

Pros

  • A better option over the long term.

Cons

  • It can lead to financial anxiety and forecast difficulty since you will not be certain as to how much you will pay as interest every month.

In the table below, we establish the relationship and differences between fixed rates and variable rates.

 

Fixed Rate

Variable Rate

Feature

The interest rate is fixed all through the tenure of the mortgage

The interest rate changes based on the prevailing prime rate in the market

Mortgage 2

What Is a Reverse Mortgage?

Another concept worthy of note is a reverse mortgage. This term refers to a scheme that allows you to borrow money from your home equity without the need to sell your house. It is also called an equity release. In most cases, your lender may allow you to borrow up to 55% of cash based on your home’s value. The amount of money you can borrow from your home’s equity will depend on the following.

  • The appraised value of the house
  • Your age
  • The agreement with the lender

How Much Can I Get As a Mortgage?

The amount of mortgage you can get will depend on several factors. Some of these factors include

  • Your current age
  • Monthly income
  • Value of the property  
  • and lots more…

Many finance managers advocate for safe borrowing when searching for a mortgage. If you want to apply for a mortgage, it is advisable that you only do so if the monthly payment on the mortgage will not be more than 40% of your monthly income. Furthermore, the debt should not be more than 40% of the gross income of your household. Shopping for a mortgage is a great idea to get the best one for your personal situation.

Best Mortgage Rates

When searching for a mortgage for real estate, there are certain things to bear in mind. Taking note of the following points will help you get the best mortgage rates that you can afford. The interest rate is the most important factor to look out for when applying for a mortgage. Here are helpful tips on how to choose a mortgage.

  • Be sure of your credit scores before applying for the mortgage. Clean up your credit score if it is poor and rectify any mistakes in your credit report.
  • Decide on the interest rate you will go for before you apply for the mortgage. Pick the rate that you can afford.
  • Contacting a lending institution is helpful to ensure that the process is seamless and straightforward.

How Much Can You Afford for your Home?

How much you can afford for your home will depend on your monthly income, the house’s value, and the interest rate tied to the mortgage. All these costs will reflect how much the lender will ask you to pay as a down payment.

What Is a Down Payment?

A down payment is the minimum amount of money the lender expects you to put down to purchase the house. This down payment must come from you and not be borrowed from elsewhere. Consider it as a commitment you need to make to show your seriousness and to share part of the financial risk of purchasing the house. The amount of down payment that will be demanded of you will depend on the following factors.

  • Credit score
  • Nature of your employment
  • Purchase price of the house

Note: Down payments are mostly 20% of the purchase price, but if what you are offering is below 20%, the lender may ask you to procure mortgage loan insurance.

Monthly Payments

Monthly payments refer to how much you are expected to pay as installments throughout the mortgage tenure. The monthly payment covers the principal and the interest.

How to Find Low Mortgage Interest Rates

To find low mortgage interest rates, consider doing one or more of the following.

  • Approach a financial institution that you already have a relationship with to make inquiries.
  • Compare rates issued by different mortgage lenders by visiting their corporate website.
  • Search the websites of financial advisors or contact them directly.
  • Hire a reliable mortgage broker to help you compare the best rates. 

How to Calculate Mortgage Payment?

Unlike in the past, when you had to contact a lender or a financial advisor to calculate mortgage payments, the process is much easier now with the rise of technology. To calculate your mortgage payment accurately, consider using an online calculator. An online mortgage calculator will aid you as you compare options so as to identify the best mortgage rates.

Get pre-approved on your mortgage

Before you approach a lender for a mortgage to purchase a new home, it pays to get a pre-approval from the lender first. A pre-approval is like a fact-finding mission to ascertain whether you qualify for the mortgage or not. Discussing with a lending institution first will benefit you by: 

  • Saving time
  • Avoiding application rejections
  • Knowing the cost implication of the mortgage long before you even apply for it
  • Knowing how much you qualify for
  • Knowing all about your contractual obligation and hidden costs, if any

How to Get Pre-Approval for a Mortgage?

To get a pre-approval for a mortgage, approach your financial institution for more information. Or better still, contact a competent broker to help you get a pre-approval from a reputable mortgage institution ahead of time.

FAQ – Frequently Asked Questions About Mortgages in Canada

Why use a mortgage broker instead of a bank mortgage advisor?

When comes the time to get a mortgage, most people are unaware of their options regarding mortgage lenders. A lot of people think a mortgage broker and a bank mortgage advisor is the exact same thing. In fact, hiring a mortgage broker will allow you to find the most suitable mortgage lender out there. Mortgage brokers have access to numerous lenders from various industries including private lenders, big banks and other financial institutions. When hiring a mortgage broker, you will have a personalized experience fitted just for you.

Bank mortgage advisors, on the other hand, only have access to their internal rates and cannot compare outside of their bank. There are also much stricter approval conditions when hiring a bank mortgage advisor. However, banks are familiar to us and therefore usually reliable which is why we can trust them more easily.

What is mortgage loan insurance?

Contrary to popular belief, mortgage loan insurance does not protect you in case you can’t make your mortgage payments, it actually protects the mortgage lender. In Canada, mortgage loan insurance is usually mandatory if your down payment is less than 20% of the purchase price. In some cases, your mortgage lender may still obligate you to take mortgage loan insurance even though you put 20% down because your credit history is low or you’re self-employed.

How much is mortgage loan insurance?

Mortgage loan insurance usually costs between 0,6% and 4.50% of your mortgage. The higher your down payment, the lower your mortgage loan insurance fee will be. 

How does refinancing a mortgage work?

Refinancing a mortgage  involves borrowing money against the equity of your home. To find out your home equity, you must deduct the amount you owe on your mortgage from the value of your home. Refinancing a mortgage, however, comes with fees. These fees include interest, legal fees, title insurance fees, title search fees and appraisal fees.

You should consider refinancing your mortgage if:

  • You need emergency money and have exhausted all other options.
  • You will be staying in the home for a few more years. 
  • You need to pay off a huge amount of debt.
  • You need immediate money for investing.
  • You want to reduce your monthly payments.

How do I pay off my mortgage faster?

Paying off your mortgage faster is a great way to save huge sums of money on interest rates in the long run. Be careful to not exceed the maximum amount permitted by your mortgage contract or you may have to pay prepayment penalties. 

To pay off your mortgage faster you can:

  • Make lump-sum payments during certain moments of your term. 
  • Increase your recurring payments. 

Can you get a mortgage for a land?

Yes, in Canada, you can get a mortgage for a land. Mortgages for lands do require large down payments that can reach as high as 50% for lands that are used for long-term investments. By contrast, a land you are planning to build on in the near future usually requires a much lower down payment between 20% to 30%.

Conclusion

To get your mortgage application approved, there are certain steps you need to take to increase your chances of getting the loan for your future home. Knowing more about the mortgage application and qualification process is also important. We understand that the real estate market can be harsh; therefore, we advise that you do your research before approaching a lender for a loan. Doing this will help you get a mortgage with the best interest rates that you will be able to afford.

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