Is moving to Vancouver a really dumb financial decision?

Misc

Hey guys,

I know this is also a personal decision, as moving anywhere is ultimately a personal choice... but finances also factor in & matter too. I've been moving around/travelling around quite a bit this year and really would just like to settle down somewhere and try it out.

Vancouver has been on my mind for a while but I'm not fully sold because of the cost (plus it's far from my family in Ontario so I'd need to fly every few months, though it's close to my west coast-US family). It's obviously insanely expensive and I know rentals went up a lot but I'm just wondering if this is a pointless move.

I make ~120k/year, own property here, have no major debts, don't drive (currently) so no car payments. I just have a pet I pay for but otherwise no major things to pay for besides living expenses.

I've heard Quebec is killer for taxes above a certain bracket (I'm not sure if I fall under that?) but BC is decent. But of course BC comes with BC prices, so there's also that to factor in.

I'd like to have kids in the next few years too so there's also that to think about. I'm currently single as well but that's a totally different discussion re: this move.

Is this a pointless move/consideration or is it not as big of a deal as what I'm thinking? I tend to overthink. I don't want to go somewhere for some time if long-term it'll kill me, but I'm also tired of worrying constantly about $$.

Posted May 4, 2022, 6:41 PM UTC

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