(Some advantages on both sides) Being able to work from home while still reporting to Montreal, I saw this as an opportunity. Based on income tax and mortgage alone, you would save $1,189/year by living in Quebec, however, the real savings will be on other things, and once you add them in you’ll be saving a lot more. Reference for calculations http://bit.ly/RLVw04, Ontario: $48,556 Quebec: $55,627. Filtration costs money. What you have illustrated above might be true in terms of financial expenses and saving, My struggle lies with the aftermarket value of ones investment (Primary home) in Quebec and the ease / demand of the sale. It takes a half an hour to drive there but I’m typically seen within less than a half an hour; that’s still favourable compared to other options in Gatineau or Ottawa. It would be the same scenario in Quebec, you simply have to put the baby name on the list the day after you find out you are pregnant and voila. In Ontario these delivery charges are exponentially higher than in Quebec. In almost all scenarios, living in Gatineau is significantly more financially beneficial than living in Ottawa. When I was considering moving to Ontario my plate costs were negligable but my insurance costs would have been $1,300 annually. We were able to find a good home in an area we think is great and getting better (Vanier) for 360k. Effective July 1st, CMHC has made changes to their mortgage rules that disqualify roughly 10 percent of potential homebuyers with Fair-Poor credit. They take advantage of the cheap daycare, and when kindergarten is starting, they move to Ontario. That means there was a 1.0 per cent change from year to year, though of course, as with Ottawa or any other city, some neighbourhoods can have higher appreciations than others. This blog only analyzes the decision from a financial perspective, not from any other perspective. Also in Gatineau/Hull, many people do not have a family doctor and therefore a very poor regular F/U. While it appreciates in value, after all expenses are considered, it is typically a poor investment. Mine are $3,060 which includes both property and school taxes. The only equalizer is if the Gatineau home owner earns 8% compound annual on interest rate savings which is highly unlikely. In terms of your question re: the $150K it’s based upon household income, and is an estimation based upon 100 calculated scenarios using houses of similar size, features and proximity. Ontario (17.6%) led the increases in mortgage delinquency followed by British Columbia (15.6%) and Alberta (14.8%). Nationally, 86% of Boomers want to live in their home forever, but only 25% are on track with their retirement savings. The 3 to 5 years mark is very critical for my situation since I will have to sell and the fact of selling at lost for my first property will completely ruin my first step in the world of real estate investment. The QUICK resale of more expensive homes in established neighborhoods in Aylmer are few and far apart. Great blog. The primary methods in which I market them is via Kijiji ($30 for a featured post, and I always feature my posts because it makes all the difference and it’s a small expense compared to sitting on vacant property). You pay, then the gov reimburses you after the paper work (x-rays not covered 100% (or at all), and other things will/may not be covered). 5-10% – I would have more money to reinvest into other properties House prices vary depending on one’s expectations but I noticed that most homes in Aylmer don’t even come with a garage. What would be the equivalent price for a property in ontario to a $320000 property in plateau. I’ve been to emergency at the Hull, Gatineau & Shawville hospitals approximately 8 times in the last 10 years and the longest I waited was 5 hours. Income taxes paid: $55,627 The numbers you have cited aren’t readily available for investors in Canada. My pleasure, I’m very happy to have helped. *): $20,893. For this assessment we’ll use a homeowner who owns a single family home currently valued at $300,000 (purchased a few years ago for $225,000). What would be the break down of the two options. – Gas prices in Quebec are higher (at least 5 cent/liter), otherwise u need to drive to Ottawa. It is already difficult to account for all the financial differences, the non financial are even harder… Which makes for a long and very personal analysis for each.
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