Link to original video by Ryan Crits - London, Ontario, Canada

Cost of Living - London Vs Toronto

Outline Video Cost of Living - London Vs Toronto

Cost of Living - London vs Toronto

Short Summary:

This video compares the cost of living in London, Ontario, to the Greater Toronto Area (GTA). The video highlights significant differences in housing prices, groceries, rent, gas, and entertainment. The speaker, a real estate appraiser and agent, argues that London offers a more affordable option for those seeking to buy a home or rent, especially considering the high cost of living in Toronto. He also emphasizes the potential for saving money on groceries and entertainment in London.

Detailed Summary:

Introduction (0:00-0:45):

The video begins by acknowledging the high cost of living in the GTA, leading many to seek more affordable options. London, Ontario, is presented as a viable alternative due to its proximity to Toronto and lower cost of living. The video aims to compare the cost of various expenses in both cities.

Housing (0:45-2:30):

The speaker compares the prices of similar houses in London and Toronto, showcasing a significant price difference. He uses specific examples of houses sold in both cities, demonstrating that London offers significantly lower prices for comparable properties. He emphasizes the affordability of homeownership in London compared to the GTA.

Groceries (2:30-3:30):

The speaker utilizes the website Numbo.com to compare grocery prices in London and Toronto. He highlights that groceries are significantly cheaper in London, with milk, potatoes, white rice, and onions being 20-30% cheaper. He also mentions that imported beer is surprisingly more expensive in London.

Rent (3:30-4:30):

The video compares rental prices for similar two-bedroom homes in both cities. The speaker demonstrates that rent in London is significantly lower than in Toronto, highlighting the potential for landlords to earn higher returns on investment properties in London.

Gas (4:30-5:30):

The speaker discusses gas prices, noting that London often has higher gas prices than other areas in Southern Ontario. He attributes this to the city's layout, which requires more driving and results in higher fuel consumption. He also mentions that gas prices in London are generally higher than in Toronto, despite the potential for saving money on gas due to less traffic congestion in London.

Entertainment (5:30-7:00):

The speaker compares the cost of a typical Saturday night out in both cities, including a movie and dinner. He uses Numbo.com to show that a meal at a mid-range restaurant is cheaper in London, and domestic beer is significantly cheaper. He also highlights the high cost of parking in Toronto compared to London.

Conclusion (7:00-7:50):

The speaker concludes by emphasizing the financial benefits of living in London, particularly for those with remote jobs. He highlights the potential for saving money on housing, groceries, and entertainment. He also expresses concern about the affordability of homeownership in Canada, particularly for younger generations, and suggests that London offers a better opportunity for achieving this dream.

Notable Quotes: