Will our situation financially viable?

[Guest Angelica]

I have been reading and reading all the posts on here for ages now and have done plenty of research but I think I just need some reassurance from "poms in oz"

 

My husband got an independent skills visa last October (yaaaaay!) and we had planned to have a bit of fact finding holiday this Sept/Oct for 4 weeks as we have to get an immigration stamp within 12 months.

 

Since then there have been rumblings of redundancy at my husbands work and its looking likely that this week he will get made redundant with a payout of around £20k.

 

We have about £10k in savings and no debt apart from the mortgage.

 

We plan to put the majority of our belongings into storage and rent our house out for about £750 per month (- a % of agents fee) and we will also have the mortgage paid by an insurance policy taken out years ago in case my husband was made redundant (we have already checked that they will pay out if we are no longer in the country and if we rent the house and they will) They will stop paying though once he takes a job in Oz.

 

We plan to fly out beginning of May (as we have some family events we want to stay for) and then short term rent (4 wks) in Sydney and then long term rent in a suburb like Mosman, Neutral Bay, Queenscliffe, etc).

 

I hope to get a PA/Office Manager temping job (or even permanent) earning approx. 70K AUD and my husbands job in IT pays approx 120 - 200K AUD.

 

We will need to pay for childcare as we have a 3 year old little boy and will need to buy the majority of household items again.

 

My husband plans to have a couple of months off before finding a job to settle our son in (as they have never had that amount of quality time before).

 

We have budgeted for the following weekly costs

 

Rent 750 AUD

Food 200 AUD

Travel cards 100 AUD

Childcare?

Mobile phones?

Health insurance? do we need this?

Sky TV?

General household expenses?

Eating out 100AUD

 

Not really sure how much tax to deduct yet, is it about 30%?

 

We might look at moving further out of Sydney maybe more towards the central coast once we have had time to travel around (another cost for a lease car!)

 

I lived and worked in Sydney about 10 years ago so I kind of know what to expect and I am bracing myself for a much higher cost of living.

 

Are there any things that we should take with us from the house, that we are just ridiculously expensive to buy in Oz.

 

Our long term plan would be to stay for at least 4 years and get dual citizenship and then come home or sell our house in the UK and buy in Oz.

 

Feeling a bit nervous with this whole redundancy thing looming over us and telling our friends and parents has been horrible :no:

 

I would be grateful of any advice.

 

:chatterbox:

[Guest Angelica]

Sorry the title was meant to say.......

 

"Will our situation BE financially viable!!"

 

:wink:

[Pumpkin]

Seems like an OK plan; my comments would be.

 

You would probably need more than 750 a week for the short term rental whilst in Sydney. We did something similar and spent over 1,000 a week after shopping around somewhat. This is also a bit light for a rental in Mosman, Neutral Bay, unless you are thinking of an apartment not house.

 

I'd be tempted to ship your stuff. If you have to buy everything your savings are not going to go far.

 

Don't lease a car for too long, we found it very expensive. If you plan to buy a car do it sooner rather than later.

 

Tax obviously is not a flat rate, it is in bands like UK. Google for a tax calculator to see what you would pay for various scenarios.

 

Health insurance makes financial sense if nothing else once you earn over a certain amount. I can't remember when that kicks in, but if you both earn within your expectations you are likely to be over the amount which means if you don't have insurance you will pay an extra levy that will be more than most policies.

 

I think your OH will struggle to find a well paid job in IT in Central Coast.

 

Good luck with your move.

[Guest Angelica]

Seems like an OK plan; my comments would be.

 

You would probably need more than 750 a week for the short term rental whilst in Sydney. We did something similar and spent over 1,000 a week after shopping around somewhat. This is also a bit light for a rental in Mosman, Neutral Bay, unless you are thinking of an apartment not house.

 

I'd be tempted to ship your stuff. If you have to buy everything your savings are not going to go far.

 

Don't lease a car for too long, we found it very expensive. If you plan to buy a car do it sooner rather than later.

 

Tax obviously is not a flat rate, it is in bands like UK. Google for a tax calculator to see what you would pay for various scenarios.

 

Health insurance makes financial sense if nothing else once you earn over a certain amount. I can't remember when that kicks in, but if you both earn within your expectations you are likely to be over the amount which means if you don't have insurance you will pay an extra levy that will be more than most policies.

 

I think your OH will struggle to find a well paid job in IT in Central Coast.

 

Good luck with your move.

 

Thank you for replying, its really helpful.

 

We were thinking of arranging saying a 4 week short term rental place initially and that would give us time to explore and hopefully secure an apartment in one of those suburbs mentioned, for a 6 or 12 month rental.

 

I think you're right, the more I read the more I think we might look into shipping more of our kitchen stuff, like crockery, utensils, the coffee machine, pans and cookware. We'll also take bedding, most of our clothes and Sam's toys, but probably not the larger furniture, I might give ebay a go when we get out there.

 

I'm going to box everything up with packing list on the top so that I can ask my parents to ship things once we're there, if needs be. We're not 100% sure that will we stay forever so not sure what we will need. I think we'll leave our massive Tv and just rent one when we arrive.

 

Sorry, I meant to say that my husbands job would be based in Sydney and he would commute 1-2 days a week into the city from the Central Coast and the other days he would work from home. If his job wouldn't allow that it wouldn't be viable for us to move that far away as I know there just aren't that level of well paid job out of Sydney. If we struggle to get about without a car then we'll have to stump up some cash and buy one, but we were hoping not to and maybe just make use of the public transport which from memory was great. My little boy would love going on trains, boats and buses as he hardly does here.

 

Thanks again for taking the time to help me out :biggrin:

[Quoll]

I dont think you have enough of a financial buffer for either of you to be taking a huge amount of time away from work. Neither of you have jobs and it could take a long while of trying before you get one - the job market is hugely competitive these days.

 

Child care is going to cost you around $400 pw but you might get some of that back via gov rebate. Health insurance $250 pm - no you probably dont need it straight away but with a high salary like you expect, you may as well get it because they will slug you another 1% on top of the levy if you dont have it. I think your food costs are a little underdone and in the North Shore, I dont know that your rent budget is quite enough. Buying a car is going to cost you a substantial chunk.

 

Good luck.

[Guest Ninni]

I think you need to allocate more for food. Just had a friend in Sydney texting me saying thast their food bill last month was $1600. They also have a 3 year old and that's it. Obviously it depends on what you shop etc, however she did say she is trying to be careful at the moment as she has just stopped working. Good luck!

[Pumpkin]

I think you need to allocate more for food. Just had a friend in Sydney texting me saying thast their food bill last month was $1600. They also have a 3 year old and that's it. Obviously it depends on what you shop etc, however she did say she is trying to be careful at the moment as she has just stopped working. Good luck!

 

Good lord, what on earth are they eating. :twitcy:

 

I cannot imagine spending that much on food and I am not careful!

[boganbear]

You can save yourself a fortune by not having Foxtel (like Sky TV). Its total crap and doesnt even compare to Sky for quality or price.

 

TPG www.tpg.com.au have good deals for internet access ($30-50pm) and Optus is good for phone/broadband too - if you can get it in your area.

[Paul1Perth]

I hope to get a PA/Office Manager temping job (or even permanent) earning approx. 70K AUD and my husbands job in IT pays approx 120 - 200K AUD.

 

I would wait until you get these planned jobs. It all sounds fabulous and you should be fine earning this type of money, BUT it's not easy to get jobs that pay that much.

[mj&db]

I think it really comes down to how much comfort and luxury you want around you...if you are willing to sacrifice luxuries until you are both working I think you'll be fine.

 

 

I reckon £30k (savings and redundancy pay) + £750pm rental income you could probably survive for a fair few months without working....and when you do secure work if you can get the desired salaries stated you'll be more than ok (even the lower end of your husbands salary scale).....

 

 

My husband and I are only heading out with £11k to set up with.....eeek! :wacko: which panics me sometimes when i read how much money people posting on here are taking out (and worrying isn't enough!!) but we have just come to realise we are just not going to be able to afford (or need) luxuries straight away! We don't have kids though and I do have a job to go to straight away so a little less pressure...

 

 

From what i have seen $750pw won't get you a house (or at least one that is not a pit) on the North Shore / Northern Beaches....you'd prob get a house for that price if you went a bit more inland but again it depends on your standards and what YOU want. We need a house with a garden (because we have dogs) but we want to be near the sea so I will be commuting to from the Central Coast every day (it takes 1hr 20mins from Woy Woy). Properties are half the price up there....2-3 bed houses seems to be between $350 and $450 pw rather than the $700-$800 pw in the City suburbs. We also only plan to buy a cheap run-around to begin with and invest in a better car once settled.

 

 

 

Good luck! And if you head up to the Central Coast let us know!

[Paul1Perth]

I think it really comes down to how much comfort and luxury you want around you...if you are willing to sacrifice luxuries until you are both working I think you'll be fine.

 

 

I reckon £30k (savings and redundancy pay) + £750pm rental income you could probably survive for a fair few months without working....and when you do secure work if you can get the desired salaries stated you'll be more than ok (even the lower end of your husbands salary scale).....

 

 

My husband and I are only heading out with £11k to set up with.....eeek! :wacko: which panics me sometimes when i read how much money people posting on here are taking out (and worrying isn't enough!!) but we have just come to realise we are just not going to be able to afford (or need) luxuries straight away! We don't have kids though and I do have a job to go to straight away so a little less pressure...

 

 

From what i have seen $750pw won't get you a house (or at least one that is not a pit) on the North Shore / Northern Beaches....you'd prob get a house for that price if you went a bit more inland but again it depends on your standards and what YOU want. We need a house with a garden (because we have dogs) but we want to be near the sea so I will be commuting to from the Central Coast every day (it takes 1hr 20mins from Woy Woy). Properties are half the price up there....2-3 bed houses seems to be between $350 and $450 pw rather than the $700-$800 pw in the City suburbs. We also only plan to buy a cheap run-around to begin with and invest in a better car once settled.

 

 

 

Good luck! And if you head up to the Central Coast let us know!

 

If you are still after a cheap run-around and you have the time, there are always a few round the backpackers places in Kings Cross being advertised. Sometimes they are sat out on the street with a for sale sign. If not there is usually a noticeboard in the hostels.

A lot of backpackers buy a car travel round a bit and then go back home and sell the car. I've seen some bargains advertised when I've been over in Sydney on work trips.

[mj&db]

If you are still after a cheap run-around and you have the time, there are always a few round the backpackers places in Kings Cross being advertised. Sometimes they are sat out on the street with a for sale sign. If not there is usually a noticeboard in the hostels.

A lot of backpackers buy a car travel round a bit and then go back home and sell the car. I've seen some bargains advertised when I've been over in Sydney on work trips.

 

 

They are loads but from being one of those backpackers myself 7yrs ago I know they tend to have stupidly high km's and are generally not very well looked after (no servicing etc). We are def going to go down and have a look though just in case there is the odd bargain. Gumtree has some good second hand motors too. Cars are soooooooooo much more expensive than we thought though!

[Guest Angelica]

I dont think you have enough of a financial buffer for either of you to be taking a huge amount of time away from work. Neither of you have jobs and it could take a long while of trying before you get one - the job market is hugely competitive these days.

 

Child care is going to cost you around $400 pw but you might get some of that back via gov rebate. Health insurance $250 pm - no you probably dont need it straight away but with a high salary like you expect, you may as well get it because they will slug you another 1% on top of the levy if you dont have it. I think your food costs are a little underdone and in the North Shore, I dont know that your rent budget is quite enough. Buying a car is going to cost you a substantial chunk.

 

Good luck.

 

Thanks Quoll, its really helpful.

 

In hindsight I think time off for my OH isn't really going to be a luxury we can afford, so our plans have since changed.

 

He has already been offered one job at the higher end the salaries we had hoped for, he just needs to confirm the finer points of the contract and the job is his. Its lucky that he has contacts through his old job which have helped him secure this job (oh and a quick interview via Skype!).

 

So I'm going to settle our 3 year old into oz whilst hubby gets settled in his job and then after a few months will look for childcare and will try and get a job myself.

 

Since posting I have been put in touch a friends sister who owns a recruitment agency in Sydney who now has my CV and seems confident I would find work no problem given my experience, so who knows.

 

I have also increased the costs of food and added $500 for childcare once I'm working so it might give us a better idea of what we will be left with.

 

We have also changed our minds after seeing Mosman described as a slightly "poncy" area to live, its the last thing we want to move into, so are now looking at other areas. I just wish there was a train line that went up to the Northern beaches to avoid a bus or car commute of an hour as Queenscliff looks like a nice place to live, but we don't want to spend an hour getting to and from work.

 

We are also looking at Waverton, Neutral Bay and Cremorne. I would move to Manly again but I have images of it being overrun by backpackers now and we want more of a family environment.

 

So if anyone knows any areas that are good for families, good commutes into CBD, close-ish to the beaches and not too pricey I would love to know.

 

:biggrin:

[Guest Angelica]

Good lord, what on earth are they eating. :twitcy:

 

I cannot imagine spending that much on food and I am not careful!

 

I know! That seems a whole lot of food to be getting through, I have done some comparisons with our Sainsbury's shop to Coles and on balance it seems slightly more but nothing too concerning, once we're earning the $ I'm sure it will be fine.

[Guest Angelica]

You can save yourself a fortune by not having Foxtel (like Sky TV). Its total crap and doesnt even compare to Sky for quality or price.

 

TPG www.tpg.com.au have good deals for internet access ($30-50pm) and Optus is good for phone/broadband too - if you can get it in your area.

 

Thanks for this - have added the link to my notes.

 

:biggrin:

[Guest Angelica]

I would wait until you get these planned jobs. It all sounds fabulous and you should be fine earning this type of money, BUT it's not easy to get jobs that pay that much.

 

Thanks for replying, I know what you mean, but (see my other post) but my OH has a job (almost) lined up now, I just need to find one now !

 

However I will wait until we are there and have settle our son in and found good childcare for him first, so fingers crossed.

 

:biggrin:

[Guest ojjinoz]

$1500 A MONTH FOR FOOD??? Whaaaaaaat? That is INCREDIBLE!

We are a small fmaily like yours...2 adults and a 1 yr old and we spend around $150-$200 a week, not sure how different melbourne prices are to sydney though.

 

We only came over here with 11000 pounds with no jobs lined up and we got along fine, so Im sure youll do great.

Check out Fantastic Furniture, they do DIRT cheap furniture packages, and The Good Guys do pay less for cash for all your electronic goods!

 

Good luck!

[Guest Angelica]

I think it really comes down to how much comfort and luxury you want around you...if you are willing to sacrifice luxuries until you are both working I think you'll be fine.

 

 

I reckon £30k (savings and redundancy pay) + £750pm rental income you could probably survive for a fair few months without working....and when you do secure work if you can get the desired salaries stated you'll be more than ok (even the lower end of your husbands salary scale).....

 

 

My husband and I are only heading out with £11k to set up with.....eeek! :wacko: which panics me sometimes when i read how much money people posting on here are taking out (and worrying isn't enough!!) but we have just come to realise we are just not going to be able to afford (or need) luxuries straight away! We don't have kids though and I do have a job to go to straight away so a little less pressure...

 

 

From what i have seen $750pw won't get you a house (or at least one that is not a pit) on the North Shore / Northern Beaches....you'd prob get a house for that price if you went a bit more inland but again it depends on your standards and what YOU want. We need a house with a garden (because we have dogs) but we want to be near the sea so I will be commuting to from the Central Coast every day (it takes 1hr 20mins from Woy Woy). Properties are half the price up there....2-3 bed houses seems to be between $350 and $450 pw rather than the $700-$800 pw in the City suburbs. We also only plan to buy a cheap run-around to begin with and invest in a better car once settled.

 

 

 

Good luck! And if you head up to the Central Coast let us know!

 

Hi Danielle

 

You haven't got long until you head out, your head must be spinning !

 

Thanks for replying, so as you can see from my above posts we have changed our plans slightly as the cost of setting up home in Oz will be high and my O H has now got a job lined up (thank goodness!) so no break for him now :no:

 

I would love to live up on the Central Coast but couldn't do the commute, especially as we have a little boy, my OH job will be in CBD so we want to live in one of the suburbs nearby so his commute is less than hour.

 

We were looking for an apartment on the North Shore as we soon realised that you don't get a lot for your money in those areas, so a house was never an option. So we will go from a detached house in the quiet countryside to an apartment with who knows who above and below us :arghh: Hopefully this won't be too much of a problem and only today we have started to look at other areas with good commutes but not as close to the beaches so your money goes further and we might be able to afford a small house/garden.

 

How are you getting on?

[Guest Angelica]

$1500 A MONTH FOR FOOD??? Whaaaaaaat? That is INCREDIBLE!

We are a small fmaily like yours...2 adults and a 1 yr old and we spend around $150-$200 a week, not sure how different melbourne prices are to sydney though.

 

We only came over here with 11000 pounds with no jobs lined up and we got along fine, so Im sure youll do great.

Check out Fantastic Furniture, they do DIRT cheap furniture packages, and The Good Guys do pay less for cash for all your electronic goods!

 

Good luck!

 

Thank you for posting that, I can't imagine food prices being that different from one City to the next, glad you are getting on so well, I can't wait until I can hopefully say the same, at the moment I feel like I am at the bottom of a very big mountain !

 

Thanks for those names too, shall add them to my notes !

 

:biggrin:

[Guest ojjinoz]

Thank you for posting that, I can't imagine food prices being that different from one City to the next, glad you are getting on so well, I can't wait until I can hopefully say the same, at the moment I feel like I am at the bottom of a very big mountain !

 

Thanks for those names too, shall add them to my notes !

 

:biggrin:

 

 

No worries! I remember being at the bottom of that mountain! It takes a while to feel like you can stop working so hard and start to sit back and enjoy life in Oz...and just when you do the homesickness kicks in, so stick with it, weve been here 5 years now and I cant think of any reason why I would ever move back to UK!

 

Bring bed sheets etc with you coz Ive not ofund any shop in Oz that has cheap bed sheets...I regret not bringing more over! And if you are bringing boxes make sure you put in some english chocolate...aussie choc is just NOT the same! We also ship over marmite and bisto regularily! Its the little things that make life easier! lol! :jiggy:

[Guest guest36187]

You can get tons of UK stuff over here, yes you do pay a bit more for it but it would probably still work out cheaper than paying shipping costs!

 

Marmite can be bought here. It is called MyMate as there is an Oz Marmite. You can get Bisto in the uk shops but you do find ( and there are!) alternatives out there.

 

Chocolate......the onlky reason Aussie choc tastes different is that there are additives in it to stop it melting. You do get used to it and in the heat who wants melting chocolate!

[Guest ojjinoz]

You can get tons of UK stuff over here, yes you do pay a bit more for it but it would probably still work out cheaper than paying shipping costs!

 

Marmite can be bought here. It is called MyMate as there is an Oz Marmite. You can get Bisto in the uk shops but you do find ( and there are!) alternatives out there.

 

Chocolate......the onlky reason Aussie choc tastes different is that there are additives in it to stop it melting. You do get used to it and in the heat who wants melting chocolate!

 

 

 

Ooooo I LOVE melting chocolate!

My dad works in haulage of food stuffs and its the dairy in the chocolate that makes it taste different....the grass the cows eat here is just not as nice as UK! haha!

 

To this day I havent found a decent gravy! And to me the aussie marmite tastes like a saltier version of vegemite...just thinking about it makes me want to gag! :confused:

 

We used to have a UK shop about 20mins away but he closed down :sad: So now we rely on family to send boxes every year or two.

 

I only mentioned the chocolate coz a woman needs her chocolate especially with the emotional hardships in store with migration! :biggrin:

[Guest Ninni]

Re bed sheets, remember that Aussie bed sizes are different, so your sheets might not fit if you don't bring your own beds!

[caramac]

Ooooo I LOVE melting chocolate!

My dad works in haulage of food stuffs and its the dairy in the chocolate that makes it taste different....the grass the cows eat here is just not as nice as UK! haha!

 

To this day I havent found a decent gravy! And to me the aussie marmite tastes like a saltier version of vegemite...just thinking about it makes me want to gag! :confused:

 

We used to have a UK shop about 20mins away but he closed down :sad: So now we rely on family to send boxes every year or two.

 

I only mentioned the chocolate coz a woman needs her chocolate especially with the emotional hardships in store with migration! :biggrin:

 

 

In that case wouldn't the milk taste different? Can't say I've ever noticed that. I was also told it was because the chocolate has a different recipe to raise the melting point, like Joanne said. It's funny what you get used to. I like the Cadburys turkish delight choc in Aus, It wasn't available in the UK before we left, so my first taste of it was in Australia. You can get it in the UK now, but I don't like it - it's just not the same. However, I prefer the UK version of the other Cadbury products, probably because it's what I've always been used to.

I agree that Aus Marmite is horrid stuff, but Joanne was referring to MyMate which is Marmite (they can't use the same name as it's already in use) which you can get in some supermarkets and, for the op, at the Swiss Deli in the Gordon Centre on the North Shore. It is expensive though, so it's definitely worth packing lots (unless you hate it!). We put jars of it and lots of chocolate in our container. Sad, but you're right, it's lovely to have when you're getting used to lots of new stuff!:yes:

[Carlos fandango]

In that case wouldn't the milk taste different? Can't say I've ever noticed that. I was also told it was because the chocolate has a different recipe to raise the melting point, like Joanne said. It's funny what you get used to. I like the Cadburys turkish delight choc in Aus, It wasn't available in the UK before we left, so my first taste of it was in Australia. You can get it in the UK now, but I don't like it - it's just not the same. However, I prefer the UK version of the other Cadbury products, probably because it's what I've always been used to.

I agree that Aus Marmite is horrid stuff, but Joanne was referring to MyMate which is Marmite (they can't use the same name as it's already in use) which you can get in some supermarkets and, for the op, at the Swiss Deli in the Gordon Centre on the North Shore. It is expensive though, so it's definitely worth packing lots (unless you hate it!). We put jars of it and lots of chocolate in our container. Sad, but you're right, it's lovely to have when you're getting used to lots of new stuff!:yes:

 

I didnt think you were allowed to put food in your container.....did you declare it on your shipping list..........and does this extend to liquids like kitchen/bathroom cleaning stuff and the like............