There has been a lot of disruption caused due to the pandemic and near about business has faced the impact of the COVID-19 spread. The effect of such disruption will be felt in the upcoming year too. Spending habits have also substantially changed which has affected the costing and pricing of necessary commodities to increase and since the non-essential items are not on the priority list of the people, their prices have reduced. If planning to Immigrate to Canada in 2021, the following list of the cost of livelihood of various expenditures is a sure guide in making a decision:
Housing and Rental Fee if Planning to Immigrate to Canada in 2021:
The economists have predicted that the house prices will come down mostly by 7% which is good news for anyone planning to buy a home in Canada. The three major cities Toronto, Vancouver, and Montreal, all have been affected by the pandemic. And buying a home or just taking a home on rent can now become easy. In Toronto, a house that was available for $900000 in the last year can be bought for $ 850000 in 2021.
Vancouver, which is the Hollywood North, has the highest rental fees in Canada. A two-bedroom home goes for a whopping $2793 pm, in Toronto and Calgary it can be fetched for $2300 pm, in Ottawa, it is @2000, Hamilton it is $1637 and the least expensive would be in Edmonton with $1250 pm.
If still, budget is an issue, there are always options available to settle down in a smaller city or province like Timmins, North Bay, or Barrie in Ontario. All the small cities offer a house on rent at $1000 pm on average.
Healthcare Costing in Canada:
To avail the excellent community healthcare in Canada, insurance plans ‘Medicare’ come to the rescue. It covers almost 70 % of the expenses for one and all. There is no social bias. Medicare of Canada is named as the best in the world this year.
In terms of Private insurance in Canada, nearly 65% of the people are insured with some private companies which are there to fill the gap left by the public healthcare system.
Immigrants will have to wait for 3 months before getting the advantage of Medicare.
Food cost for average household in Canada:
Due to pandemic and long traveling hours of the food, the food items are a bit expensive comparatively. Generally too, due to winters from November to May, people pay more on food, as they are being imported by plane and ship. A prediction is being done which says that the average Canadian family will have to spend $12,667 for their annual grocery consumption, which excludes the dining out option.
Entertainment, Utilities and transport cost- modest expenses per family in Canada:
For metropolitan cities, public transportation is very efficient and for coastal areas, ferry boats are very common to travel. Proper highways help in connecting the cities, which makes it easy to drive for those with a private car.
Utilities are usually included in the rent, but if it is not so, then electricity/gas and internet and cable bills go out from the tenant’s pocket.
Cost of immigration to Canada in 2021:
When applied through a cost-effective immigration plan, like the Express Entry, the processing fee is $825. For the spouse, it is another $825. For each child, it is $225. When the application is successful, a fee of $500 has to be paid.
For the settlement funds, for a person applying for permanent residency, the payment is near about $12960 for the main applicant and an additional amount of $3492 for each family or dependent member.