In short, no, it’s roughly the same. But it is does depend on what you are buying and whether you are doing it as a tourist or a resident and I can only speak for British Columbia so far. (If any of our readers from other parts of Canada have an opinion, send me your views.)
You may not have as much money to spend as you think, despite the wad of dollars burning a hole in your pocket! One of the most common things we hear from people visiting Canada on holiday is how cheap they have found things.
Immediately this reminds me of when my Dad first emigrated to Canada. Getting what appears to be roughly 2 times the amount of money when you exchange your British pounds, your only comparison is to the pound and then converting it back. This is the last thing you should do, but invariably we all fall into the trap. Whether it is a house, shopping, furniture or anything else we may need if and when the thought of emigration pops into our head, we all convert back and think Canada is cheap. A common conversation we’ve had is It ís only 50p for petrol! or Crikey £40 for that?!?
But it’s not. It’s CDN$1, or CDN$80.
When you eventually get paid in Canadian dollars, believe me, you will suddenly realise, a dollar is equivalent to a pound. You’d be amazed, a month or two in to emigration, how fast your money disappears. Bear this in mind before you get here.
As always, rising house prices are a contributing factor, where people have so much equity now in their homes, due to their escalation in recent years. On the surface what we see is the potential release a lot of money from a property, allowing a purchase outright here in Canada, and then a better lifestyle, away from the rat race! The problem is too often people fail to really consider the other costs of living.
I’ll try to cover some of them over at our new blog for people wanting to emmigrate (click here to go and read the articles), if you have more, or want to comment, as always, I look forward to hearing from you, get in touch!