The Cost of Living in Windsor, Ontario

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Have you ever wondered what it would cost per month to live in Windsor? Today, we’re going to be going over how much it would cost to both rent and own a house in Windsor, Ontario.

Before we start, you should know that these calculations are based on the standard family of 2 parents and 2 kids, with a house that is valued around $350,000 with 3 bedrooms and 2 baths. Every house and every family is different, but this will give you an idea of what to expect in today’s market.

For a $350,000 home where you buy the property with 5% down mortgage, with an interest rate of 2.39% for a five-year fixed term, your mortgage payments will be around $1,530. This can be higher or lower depending on how much you put down, but for first time home buyers, 5% is usually the average.

Along with the house, you will also need to pay property taxes as you own the land as well as home insurance in case anything major happens such as a fire or a flood. For Windsor, property taxes tend to be around $210 for a $350,000 and insurance would be around $100.

Next, we need to think about any unexpected expenses that sometimes come up. Things will break, pipes will get clogged, and accidents will happen sooner or later. It’s a good idea to put about $200/month aside for the unexpected that’s bound to show up.

You will also need to think about your utilities. In Canada, the 3 big utilities are hydro/electric, water, and gas. Hydro for a family of 4 is usually $50 for a single month and gas will be around $75 if you have a furnace. The biggest expense will be your water bill, as you’re being billed for the water coming in and the water going out. For a family of 4, this will roughly be about $100.

While not a utility, a big thing you will need in this day and age is internet as most of your electronics run on it in order to work and entertain. The bill can very depending on the company and your needs, but on average, it will be around $50.

There are expenses outside the house that you will need to think of as well. Think about your car. On a monthly basis, you will need to pay for gas and insurance. If you have a G license, your insurance will be around $220 a month. If you have a G2 or a G1 on the insurance or have been in previous accidents, your insurance is more likely to be higher than this. As for gas, you honestly won’t be spending much as Windsor is a city that you can get anywhere from within 10-15 minutes. I usually fill my car once every 3-4 weeks, so that will most likely cost around $50.

Even costs inside the house that are not part of the property should be taken into account. I personally don’t like eating out much and love to cook and eat in my house, so I spend more on groceries than most people. However, for most families, $400 a month is usually the average when it comes to groceries to eat in. You’re also probably reading this article or watching my videos on your phone, which is another expense. My bill is super high, as I’m a realtor and use it more than most. However, my wife spends about $50/month on her bill, which is pretty average. Finally, think about any extra costs that happen every month, like clothes, alcohol, or anything else you would think of. It’s good to set $200 aside for anything you truly want.

Adding all these costs up, the average home in Windsor would cost about $3,245.

  • Mortgage: $1,530
  • Property Tax: $210
  • Insurance: $110
  • Unexpected House Fund: $200
  • Utilities: $225
  • Internet: $50
  • Car Expenses: $270
  • Groceries: $400
  • Phone Bill: $50
  • Miscellaneous: $200

Total: $3,245

But what if you’re a renter? Which of these costs you be paying? Surprisingly, it’s not that different from buying a home

If you would like to rent a three-bedroom, two-bath home on an average, the rents are around $1,500. The only difference that you would see is you don’t have to pay the property tax. You don’t have to pay the insurance. You don’t have to have that miscellaneous extra $200 for repairs and maintenance, as the owner would most likely take care of it.

By taking out those expenses, you can expect your monthly expenses would be $2,695 if you’re renting.

  • Rent: $1,500
  • Utilities: $225
  • Internet: $50
  • Car Expenses: $270
  • Groceries: $400
  • Phone Bill: $50
  • Miscellaneous: $200

Total: $2,695

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