Q: Is CAD$ 5000 enough for a couple to live comfortably in Vancouver, B.C? I and my wife are planning to settle down in Vancouver, B.C. I can easily earn $5000 from my online business. So is it enough to rent a good condo, buy a new BMW on installments and live comfortably? Please provide a detailed answer If I earn a $5000 net income will I be able to live in a good condo with all amenities, buy a BMW car on installments plus eat outside? One of the answers said I can live comfortably but not in luxury. Does this mean that if a person earns $12,000 or even $15000 net per month, he can live in luxury?
A: If you can't live on 5 G's a month you have bad spending habits or a drug problem. A good condo will be around 2000 a month with strata fees and car payments from 300 to 800 depending on your down payment and the length of your term. To insure a car in BC you have to go through ICBC (our billion dollar corporation monopoly insurance company)100 to who knows a month ( i pay 160) That would still leave you with plenty for gas, food and entertainment. BC is expensive but its also one the best places to live by far.
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