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Moving to a new city requires a whole lot of adjustments and one of them is going to be figuring out what you can afford in your new location opposed to when living in a Toronto condo or oceanfront cottage PEI based. While you may find that housing prices are similar you might also realize that companies don't pay as well for similar work or that they actually pay much better. You will also want to consider the price of everyday living, including groceries, household supplies, transportation, and health care. Here are some of the statistics for Alberta and the Red Deer region.
The average cost of a home in Alberta is around $400,000 for a two-storey single-family home and $250,000 for a two-bedroom condo. This is comparable with what you will see when you're looking at home in smaller cities in British Columbia or when you're searching with North York real estate agents. It is cheaper than what you will find in downtown Toronto or the major centres on the West Coast and quite a bit more than homes along the East Coast and throughout the rest of the Prairies. If you're thinking of renting you will likely be paying between $900 and $1200 for a standard two-bedroom apartment.
Shelter and transportation are the two highest costs when it comes to living in Red Deer and the rest of Alberta. This is usually the case when looking at cost of living from those that shop for luxury houses for sale in Toronto to more modest country buyers. In Alberta, the average family pays out about $18,000 a year in housing costs and spends a little more than $12,000 getting around. Next in line is food, which usually rings up to about $8000 per year for the average household. When considering where you will be paying more or less compared to living in a Toronto condo, for example, you should look at any elements of your lifestyle that might change. While living in Toronto you might bypass the car for a transit pass you might also spend more money on food, as there are more restaurant choices to try out every week.
Red Deer is most definitely a growing city and there is lots of demand for skilled workers in a variety of industries. With your paycheck you might be able to afford an Edmonton condo for sale in the province's second largest city but might be able to but that family home in Red Deer for doing the same work. The minimum wage for the province is only $8.80 but there are lots of entry-level job options that pay much higher than this rate.
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