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JamesMu

How much to support a family in Melbourne?

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Hi there!

 

I have just joined tonight but have been looking at the site for a little while as I am looking for advice/thoughts on moving to Melbourne.

 

My Kiwi fiancee and I are looking to migrate from London next year. We are ok for Visa's as my fiancee's mum is Australian, but I am trying to work out what kind of salary I will need to earn to support my fiancee and our 9 month old daughter (plus a few more hopefully popping out in the next few years!).

 

We are looking at moving to Point Cook as we have heard nice things about it, and had a quick look earlier this year on our way to Auckland. We will be looking at houses around $400k (with not a huge deposit to put down) and it will be just me working. Is anyone able to give me a rough guide to what I would probably need to earn as I would like to start looking for jobs from over here and want to work out if what we have in mind is realistic?

 

Any help is appreciated, we just cant wait to get out there!

 

James

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Hi there!

 

I have just joined tonight but have been looking at the site for a little while as I am looking for advice/thoughts on moving to Melbourne.

 

My Kiwi fiancee and I are looking to migrate from London next year. We are ok for Visa's as my fiancee's mum is Australian, but I am trying to work out what kind of salary I will need to earn to support my fiancee and our 9 month old daughter (plus a few more hopefully popping out in the next few years!).

 

We are looking at moving to Point Cook as we have heard nice things about it, and had a quick look earlier this year on our way to Auckland. We will be looking at houses around $400k (with not a huge deposit to put down) and it will be just me working. Is anyone able to give me a rough guide to what I would probably need to earn as I would like to start looking for jobs from over here and want to work out if what we have in mind is realistic?

 

Any help is appreciated, we just cant wait to get out there!

 

James

 

Hey it depends on how much money you bring, what size mortgage will you have once putting the deposit down, dont forget stamp duty on the house, if you go on realestate.com it gives you tools to check mortgage repayments on different amounts you will have to borrow. So for instance if you are looking at a property of 400 thousand and you have a deposit of 50 thousand you will have stamp duty of around 16 thousand so you borrow 350 thousand your monthy repayments will be about $2,250 per month over a 25 yr period, you can offset some of the stamp duty by a first home buyers grant, not sure how much you get now for this, also factor in the increase in interest rates which are on the up, food for a family of 3 you could do for about 200 dollars a week, car rego for the year 580 dollars, foxtel, internet, tel about 180 per month, petrol about 1.20 - 1.30 litre, you will then have rates, water charges (metered) gas, elec, home and contents insurance, maybe put away 300.00 dollars a month for these, and see how you go, this is just an approx costing, other people may be able to be more specific, for you but it gives a rough guideline. hope this helps

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Hey it depends on how much money you bring, what size mortgage will you have once putting the deposit down, dont forget stamp duty on the house, if you go on realestate.com it gives you tools to check mortgage repayments on different amounts you will have to borrow. So for instance if you are looking at a property of 400 thousand and you have a deposit of 50 thousand you will have stamp duty of around 16 thousand so you borrow 350 thousand your monthy repayments will be about $2,250 per month over a 25 yr period, you can offset some of the stamp duty by a first home buyers grant, not sure how much you get now for this, also factor in the increase in interest rates which are on the up, food for a family of 3 you could do for about 200 dollars a week, car rego for the year 580 dollars, foxtel, internet, tel about 180 per month, petrol about 1.20 - 1.30 litre, you will then have rates, water charges (metered) gas, elec, home and contents insurance, maybe put away 300.00 dollars a month for these, and see how you go, this is just an approx costing, other people may be able to be more specific, for you but it gives a rough guideline. hope this helps

 

Thanks Byrned. We are thinking of renting for the first year or so to make sure we know the area we want to get settled in, and from what I can see that should bring the costs down a bit until we do take the plunge and buy a place. Your costings are a little scary (!) but its good to be realistic. At the moment we both work over here but in Melbourne my fiancee will look after the kid(s), so we will be on one salary.

 

We dont have a luxurious lifestyle by any means at the moment, but have a bit of spare cash at the end of the month and it looks like things would be a lot tighter, at the beginning anyway. It still seems a little more possible than surviving on one salary in London though, so thats a good thing! Generally, do you have any idea about the cost of living comparison between London and Melbourne, just for a basic lifestyle?

 

Thanks again!

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Thanks Byrned. We are thinking of renting for the first year or so to make sure we know the area we want to get settled in, and from what I can see that should bring the costs down a bit until we do take the plunge and buy a place. Your costings are a little scary (!) but its good to be realistic. At the moment we both work over here but in Melbourne my fiancee will look after the kid(s), so we will be on one salary.

 

We dont have a luxurious lifestyle by any means at the moment, but have a bit of spare cash at the end of the month and it looks like things would be a lot tighter, at the beginning anyway. It still seems a little more possible than surviving on one salary in London though, so thats a good thing! Generally, do you have any idea about the cost of living comparison between London and Melbourne, just for a basic lifestyle?

 

Thanks again!

 

Hi I cannot give you a comparison as I have never lived in London, I think firstly what you will have to do is try and do some research on what type of salary your position would bring, in Melbourne, then look on realestate.com.au which is the website here that all agents use to show property, either rental or ones for sale. check out the areas you would like to live or think you may like to live, this will just give you an idea of rents, if you rent you are not liable for the rates this will be in the the rent, you will however be responsible for the water charges but these are metered, costs change closer to the city you are, will you both need cars when you are here, I would say yes, look on carsales.com.au this gives prices of new cars and second hand cars, when you rent a property you have to pay a months rent in advance and a months bond so for example you find a prop at 400 dollars per week times it by 52 divide by 12 gives you monthly rental of 1,733.00 plus 1,733.00 for a bond, you get your bond back when the lease is up, also look on the supermarket sites for costs of food safeway.com.au or coles.com.au the newspaper websites are heraldsun.com.au or theage.com.au jobs webistes are seek.com.au the utility sites we use are truenergy.com.au and water is southeastwater.com.au it is very expensive to come to australia and set up a life, as you will discover ie visas, flights, shipping, getting settled, we were a family of four and I think in total with visas and everything to get here and into a house it probably cost about 15 thousand pounds I hope this helps you, like I said to what standard of living you would like is dependant on your earnings and what type of visa you end up on.

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Hi I cannot give you a comparison as I have never lived in London, I think firstly what you will have to do is try and do some research on what type of salary your position would bring, in Melbourne, then look on realestate.com.au which is the website here that all agents use to show property, either rental or ones for sale. check out the areas you would like to live or think you may like to live, this will just give you an idea of rents, if you rent you are not liable for the rates this will be in the the rent, you will however be responsible for the water charges but these are metered, costs change closer to the city you are, will you both need cars when you are here, I would say yes, look on carsales.com.au this gives prices of new cars and second hand cars, when you rent a property you have to pay a months rent in advance and a months bond so for example you find a prop at 400 dollars per week times it by 52 divide by 12 gives you monthly rental of 1,733.00 plus 1,733.00 for a bond, you get your bond back when the lease is up, also look on the supermarket sites for costs of food safeway.com.au or coles.com.au the newspaper websites are heraldsun.com.au or theage.com.au jobs webistes are seek.com.au the utility sites we use are truenergy.com.au and water is southeastwater.com.au it is very expensive to come to australia and set up a life, as you will discover ie visas, flights, shipping, getting settled, we were a family of four and I think in total with visas and everything to get here and into a house it probably cost about 15 thousand pounds I hope this helps you, like I said to what standard of living you would like is dependant on your earnings and what type of visa you end up on.

 

Thanks a lot for all the info! We have a lot to look into and no drop-dead date we need to move over by so we are going to try to find out as much info as possible and hopefully take the plunge in the next 18 months!

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Costs for buying a house are high. If you are going to be on a temporary spouse visa with an Australian non-earning partner you are going to struggle to get a 90% mortgage. More likely, you’d need to have 20% as a deposit plus stamp duty, legal fees and spare cash for other associated costs (removals, furnishing, etc.). Stamp duty on a $400k house is $21k if you get the first home owner grant ($7k) and $18k if you don't. Conveyancing is just under $1k; inspection is $500. And if you are lucky enough to get more than an 80% mortgage, you’d need to add in lender’s mortgage insurance – potentially another $7k. So for a $400k house, you’d probably need over $100k cash.

 

I forgot to mention - don't forget the mortgage set up fees and the cost for bank cheques for the deposit.


Feb 2010 Prospective Marriage Visa | Nov 2010 Temporary Partner Visa | Nov 2012 Permanent Partner Visa | Jan 2015 Australian Citizenship

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You dont qualify for First home owners grant until you are a permanent resident. Buying a house is much cheaper in the UK. we are waiting to buy as soon as my PR comes through

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