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What are rents like in Toronto? Are they $700 - $1300 per month lower (the difference of $20k - $40k net of taxes is about that)? If not, it doesn't make sense
by sidlls 9y ago
What are rents like in Toronto? Are they $700 - $1300 per month lower (the difference of $20k - $40k net of taxes is about that)? If not, it doesn't make sense to work in Toronto.
The same situation exists across the US. For example I can get a mortgage on a nice place in the Midwest that is half my current rent in SV. That amounts to about $24k/year. However I'd have take a pay cut of about $40k gross (or more) for a job with identical responsibilities and to live in a region with far fewer opportunities. It's a net loss.
- digianarchist 9y agoI pay $1750 CAD for a 1 bed + den near to the subway line. It's around 700 sqft.
- sidlls 9y agoHere's a CL search just to show you what you could get on the Peninsula. It's not the city, but it's close enough. https://sfbay.craigslist.org/search/pen/apa?sort=priceasc&nh=71&nh=74&nh=77&nh=80&nh=87&nh=88&min_bedrooms=1&max_bedrooms=1&minSqft=600&maxSqft=800&availabilityMode=0&sale_date=all+dates https://sfbay.craigslist.org/search/pen/apa?sort=priceasc&nh... The "near downtown San Mateo" listing is a 5-minute bike ride from Caltrain, 600sq ft and US$1785. So about CAD$600 more than your rent.
- analyst74 9y agoThe equivalent of $1750 Toronto condo (modern high rise with all the amenities) is going to be very hard to find in SV except some of the newer constructions at $3500~4000. A friend has a one bedroom in San Mateo in the sub $3000 range. The building is very old, no amenities or views to speak of, and not even in-suite laundry.
- sidlls 9y agoYour friend is getting hosed. I have a 3 bed, 2.5 ba 1600 sq ft duplex with a yard near downtown for $4k/mo. It's older, but there's nothing wrong with it, it has a garage and a W/D, driveway, etc.