Australian living costs
#61
Joined: Mar 2005
Posts: 2,027
Re: Australian living costs
[QUOTE=stevereed]Sounds ridiculously expensive, I know a guy in Brisbane who pays $250 pw for a really good 4 bed property. Perhaps Melbourne should be avoided :-)
Supply and demand I guess.
Supply and demand I guess.
#62
Forum Regular
Thread Starter
Joined: Sep 2005
Location: Melbourne
Posts: 65
Re: Australian living costs
[QUOTE=Vanessa]
Our plans are to try in the Camberwell, Surrey Hills, Mont Albert areas of Melbourne to start with. We are just looking for somewhere nice, no mansion with a swimming pool. We know there are cheaper areas further out, and once we are there we can have a better look around and make a decision as to where to buy.
What suburbs does Bayside cover ? It that Brighton and around there or further south east?
Originally Posted by stevereed
A point to make
depending on where you live $400 should get you a mansion, we pay $170 pw for a 3 bed house on a 40 acre farm, it's not luxury but it's pretty good, we were lucky however. $250-300 is more realistic.
/QUOTE]
If you are moving to the Bayside area of Melbourne $400 won't get you anything like a mansion. We are paying $770 per week for a 4 bedroom town house!
depending on where you live $400 should get you a mansion, we pay $170 pw for a 3 bed house on a 40 acre farm, it's not luxury but it's pretty good, we were lucky however. $250-300 is more realistic.
/QUOTE]
If you are moving to the Bayside area of Melbourne $400 won't get you anything like a mansion. We are paying $770 per week for a 4 bedroom town house!
What suburbs does Bayside cover ? It that Brighton and around there or further south east?
#63
Joined: Jul 2004
Posts: 12,063
Re: Australian living costs
Originally Posted by eintracht
The rental property we are hoping to let out will not have a mortgage, therefore only costs will be maintenence, house insurance etc. Therefore, I'm hoping I will make a little bit of money out of it each year.
Also question for those out there if you take the mortgage out of the equation, ie buy property outright will Eintrachts figures leave enough to live on?
Dont all jump on me now, but we are oldies and after paying mortgage off here dont want to be landed with another.
P
#64
Re: Australian living costs
Originally Posted by possoms
Hi I'm just get my head round your plan, are you planning to buy a rental property outright but have a mortgage on your home?
Also question for those out there if you take the mortgage out of the equation, ie buy property outright will Eintrachts figures leave enough to live on?
Dont all jump on me now, but we are oldies and after paying mortgage off here dont want to be landed with another.
P
Also question for those out there if you take the mortgage out of the equation, ie buy property outright will Eintrachts figures leave enough to live on?
Dont all jump on me now, but we are oldies and after paying mortgage off here dont want to be landed with another.
P
Our holiday to the Gold Coast is costing about $4.5K that includes car hire, park entrance etc for 5 of us!! Hamilton Island will be about $6k and thats a great holiday one for us to try at some time... this is leaving from Melbourne
to get an idea of prices check out virginblue.
#65
BE Enthusiast
Joined: May 2004
Location: Milton Keynes, England
Posts: 327
Re: Australian living costs
No mortgage at all. As property prices are a lot cheaper over there relatively, we are hoping to buy our own home outright and also a small house to rent out as well.
So for example if you have a £250k house in UK without a mortgage, which at current exchange rates (£=$2.3) gives you approx AUS$575k you should be able to buy a $325k house for yourself and a $250k house to rent out - including stamp duty of course.
The $250k house should be able to rent out for - and this is finger in the air time depending on area etc. - $400 pw that gives you $20,800 per annum. Obviously tax, maintence etc. to come out of that.
Somehow I think I've overlooked something which I'm sure somebody on here will remind me.
So for example if you have a £250k house in UK without a mortgage, which at current exchange rates (£=$2.3) gives you approx AUS$575k you should be able to buy a $325k house for yourself and a $250k house to rent out - including stamp duty of course.
The $250k house should be able to rent out for - and this is finger in the air time depending on area etc. - $400 pw that gives you $20,800 per annum. Obviously tax, maintence etc. to come out of that.
Somehow I think I've overlooked something which I'm sure somebody on here will remind me.
#66
Re: Australian living costs
Originally Posted by woodyinoz
With no mortgage you will be fine you should be able to put well over $1K a month aside for fun and holidays.
Our holiday to the Gold Coast is costing about $4.5K that includes car hire, park entrance etc for 5 of us!! Hamilton Island will be about $6k and thats a great holiday one for us to try at some time... this is leaving from Melbourne
to get an idea of prices check out virginblue.
Our holiday to the Gold Coast is costing about $4.5K that includes car hire, park entrance etc for 5 of us!! Hamilton Island will be about $6k and thats a great holiday one for us to try at some time... this is leaving from Melbourne
to get an idea of prices check out virginblue.
#67
Re: Australian living costs
Before we came here, we checked-out the earnings calculator on gomatilda - that said for us to get the equivalent standard of living in Aus, I'd have to earn $2 for every �*£1 earned the UK. I'd say that this is an accurate guide.
#68
Joined: Jul 2004
Posts: 12,063
Re: Australian living costs
Originally Posted by eintracht
No mortgage at all. As property prices are a lot cheaper over there relatively, we are hoping to buy our own home outright and also a small house to rent out as well.
So for example if you have a £250k house in UK without a mortgage, which at current exchange rates (£=$2.3) gives you approx AUS$575k you should be able to buy a $325k house for yourself and a $250k house to rent out - including stamp duty of course.
The $250k house should be able to rent out for - and this is finger in the air time depending on area etc. - $400 pw that gives you $20,800 per annum. Obviously tax, maintence etc. to come out of that.
Somehow I think I've overlooked something which I'm sure somebody on here will remind me.
So for example if you have a £250k house in UK without a mortgage, which at current exchange rates (£=$2.3) gives you approx AUS$575k you should be able to buy a $325k house for yourself and a $250k house to rent out - including stamp duty of course.
The $250k house should be able to rent out for - and this is finger in the air time depending on area etc. - $400 pw that gives you $20,800 per annum. Obviously tax, maintence etc. to come out of that.
Somehow I think I've overlooked something which I'm sure somebody on here will remind me.
Your plan is something we are looking at also. Would like to buy a holiday cottage (or static caravan if poss) somewhere warm! use if for holidays and rent it out rest of the time.
#69
Re: Australian living costs
Originally Posted by DevMountain
Before we came here, we checked-out the earnings calculator on gomatilda - that said for us to get the equivalent standard of living in Aus, I'd have to earn $2 for every ª£1 earned the UK. I'd say that this is an accurate guide.
#70
Guest
Posts: n/a
Re: Australian living costs
Originally Posted by Grayling
It is quite amusing sometimes on this forum.
Lots of people talk about dropping out of the 'Rat Race' or living a simpler life.
However, just look what happens when you start a thread such as "What is the best 4x4 car to buy?" or start talking about big houses with pools.
They are some of the most popular threads
I will stand by my earlier statement...most people migrating don't really think that THEY are going to be worse off. Other people maybe but not them.
G
Lots of people talk about dropping out of the 'Rat Race' or living a simpler life.
However, just look what happens when you start a thread such as "What is the best 4x4 car to buy?" or start talking about big houses with pools.
They are some of the most popular threads
I will stand by my earlier statement...most people migrating don't really think that THEY are going to be worse off. Other people maybe but not them.
G
Alot of people come to Australia, work just as hard, but actually gain a increase in quality of life. Often sections of that quality of life is actually free.
If my wife returned to work, then we could both get local jobs and we'd be on the same money as until recently, as we live semi-rural there is a promise of having escaped the rat race as we now know it or did know it in the UK.
Alot of people could escape the rat race but choose not to, as they want new everything, thus they end up back in the wage cycle.
Badge
Last edited by Badge; Sep 30th 2005 at 10:20 am.
#71
Re: Australian living costs
Originally Posted by Badge
I think it depends what escaping the rat race is. To me the point of the race is that you work harder and harder but don't actually realise gains or quality of life despite it.
Alot of people come to Australia, work just as hard, but actually gain a increase in quality of life. Often sections of that quality of life is actually free.
If my wife returned to work, then we could both get local jobs and we'd be on the same money as until recently, as we live semi-rural there is a promise of having escaped the rat race as we now know it or did know it in the UK.
Alot of people could escape the rat race but choose not to, as they want new everything, the wage cycle.
Badge
Alot of people come to Australia, work just as hard, but actually gain a increase in quality of life. Often sections of that quality of life is actually free.
If my wife returned to work, then we could both get local jobs and we'd be on the same money as until recently, as we live semi-rural there is a promise of having escaped the rat race as we now know it or did know it in the UK.
Alot of people could escape the rat race but choose not to, as they want new everything, the wage cycle.
Badge
#72
Guest
Posts: n/a
Re: Australian living costs
Originally Posted by cam_uk
exactly .. i seriously dont expect my working life to be much different to here (i've worked out there for six months before) but its the other aspects of my life that i expect to change .. having the chance to do things in my lesuire time that i could never do back here ..
#73
BE Enthusiast
Joined: May 2004
Location: Milton Keynes, England
Posts: 327
Re: Australian living costs
Sorry Possums, it was not my spreadsheet that started this thread. I was just putting my view in to see if anybody could pick holes on my line of thinking.
Has anybody tried property development ?
Has anybody tried property development ?
#74
Re: Australian living costs
Why worry about things like that....I don't worry about the cost of our living in the UK, and I'm certainly not going to worry about the cost of living when I get to Oz. That's one of the reasons we are going, to reduce the amount of stress in our lives. I know it best to prepare (which I have been doing for over 2 years) but not to that extent.
We manage now, and will manage in Oz, simple as that. Emigrating is stressful enough without causing more worry.....
...They are my thoughts anyway, and it's how I feel...
We manage now, and will manage in Oz, simple as that. Emigrating is stressful enough without causing more worry.....
...They are my thoughts anyway, and it's how I feel...
#75
Joined: Feb 2004
Posts: 622
Re: Australian living costs
I've just done microeconomics at uni, supply and demand are areas close to my heart :-)
[QUOTE=Vanessa]
[QUOTE=Vanessa]
Originally Posted by stevereed
Sounds ridiculously expensive, I know a guy in Brisbane who pays $250 pw for a really good 4 bed property. Perhaps Melbourne should be avoided :-)
Supply and demand I guess.
Supply and demand I guess.