What can your income buy you? A new report shows how much you need to earn to live in Canada’s major cities. As you’d expect, there’s some disparity. For example, to buy an average home in Vancouver you would need an income three times as much as you would to buy a similar home in Halifax. The report from work website Workopolis shows the maximum a bank may be willing to lend based on a mortgage rate of 2.99 per cent. With that in mind you need an income of $56,929 to buy an average home in Halifax; $58,235 in Winnipeg; $68,884 in Montreal; $72,028 in Regina; $72,617 in Edmonton; $74,546 in Saskatoon; $74,820 in Ottawa; $88,578 in Calgary; $113,009 in Toronto; and $147,023 in Vancouver. Living in the loft adds density to Halifax It’s not a new idea but it’s one that’s gaining popularity in Halifax -- loft conversions creating new homes on existing plots. Local builders and architects are increasingly using ‘micro-lofts’ to add density to the urban core and give new living options for young professionals and downsizing retirees who still want city living. Construction is kept relatively simple to keep costs down and allow units to be built swiftly.
Posted on: Mon, 12 Jan 2015 16:26:55 +0000
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