Should we do it or not
Jun 23rd 2010, 2:06 am
#32
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Should we do it or not
I find Brisbane more expensive than Sydney except for housing costs, which is perverse because Brisbane salaries seem lower. As regards the car loan, be sure to get it within three months of arriving or you may have problems on that visa.
Jun 23rd 2010, 6:50 am
#33
Forum Regular
Joined: Mar 2007
Posts: 35
Re: Should we do it or not
Ok Little update
I have been offered the Salary of 90k as you all know.
..
Unfortunately we have very little savings and it cannot be done without any assistance when we get there. So the agent is going back to see whether they could do a lump sum of $10k when we get to brisbane. This however would be a substitute to a payrise, which would have been after 6 months. I personally prefer this.
If we are able to get a loan for a used car, then the monthly amount would be much less than $800. I am going on the assumption that people seem to struggle to get a loan from banks on a 457 visa. $800 is for a new car costing around $30,000
Rent - 2000
Car - 800
Car Insurance - 50
Fuel - 180
Contents Insurance - 41
Food - 1000
Train/Bus - 170
Gas/Electric - 150
Medical Insurance - 250
...
I have been offered the Salary of 90k as you all know.
..
Unfortunately we have very little savings and it cannot be done without any assistance when we get there. So the agent is going back to see whether they could do a lump sum of $10k when we get to brisbane. This however would be a substitute to a payrise, which would have been after 6 months. I personally prefer this.
If we are able to get a loan for a used car, then the monthly amount would be much less than $800. I am going on the assumption that people seem to struggle to get a loan from banks on a 457 visa. $800 is for a new car costing around $30,000
Rent - 2000
Car - 800
Car Insurance - 50
Fuel - 180
Contents Insurance - 41
Food - 1000
Train/Bus - 170
Gas/Electric - 150
Medical Insurance - 250
...
Yes I would have thought you could economise on the car. I don't see how you couldn't get a loan for a used car if you can get one for a new car. Anyway, somebody should be able to advise on this - does anybody have experience of buying a used car on a 457?
Note for the medical insurance - you do not NEED to buy this at all (AFAIK), as a UK citizen you receive medicare coverage, and with a (family) salary of 90k you are under the threshold for the medicare levy surcharge (google this if you are unsure).
People have differing opinions as to the value of private health insurance in Aus. Many get along fine without it. For situations where you need medical care urgently, you will usually receive just as good care in the public system (IMO). In most ways the public (Medicare) system in aus is similar to the NHS: it will cover you for the basics but anything non-urgent has (sometimes long) waiting lists.
However I can understand that with a young family you might want insurance for peace of mind.
Otherwise, if you want to do it - go for it
.
Jun 23rd 2010, 7:11 am
#34
Forum Regular
Joined: Oct 2008
Posts: 178
Re: Should we do it or not
spoke to a lady who has just come back from Oz after 4 years - she worked as a staff nurse - and she said you dont need to get private healthcare.
which is the opposite to what i was led to believe.
which is the opposite to what i was led to believe.
Jun 23rd 2010, 7:21 am
#35
Forum Regular
Joined: Mar 2007
Posts: 35
Re: Should we do it or not
She's right, you don't NEED it, but some people think it is a good idea. Eg there are no NHS dentists here and dentistry can be v expensive. Also waiting times for some elective surgery seem very high, probably worse than the NHS. Having said that you might be better off saving the $2000+ a year you spend on insurance and using the money to 'go private' if you ever have to.
Jun 23rd 2010, 11:38 am
#36
Forum Regular
Joined: Oct 2008
Posts: 178
Re: Should we do it or not
we like to a 6 monthly check up at the dentist so for that reason alone the insurance may be worthwhile.
i like to be proactive rather than reactive when it comes to looking after my teeth
i like to be proactive rather than reactive when it comes to looking after my teeth
Jun 23rd 2010, 11:07 pm
#37
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Should we do it or not
Yes, I was told by Commonwealth that I should have bought it within three months of arriving and there was nothing they could do for me. This seems to be a similar story with all the banks. I ended up getting finance through the dealer from Westpac, my LTV was 50% and they charged me a whopping 13.95% interest. I paid it off in lumps in a little over 6 months. 457 visa holders are understandably seen as a flight risk, although in my case I felt a bit ripped off because my equity in the car had them completely covered and the car was comprehensively insured. I most of my savings in Euro unfortunately (or fortunately as I can't touch them except on hols in Europe :-) ).
Last edited by Steve2009; Jun 23rd 2010 at 11:09 pm.
Jun 24th 2010, 6:09 am
#38
Forum Regular
Joined: Dec 2009
Posts: 247
Re: Should we do it or not
You have to pay everytime you visit a GP in Austrlalia , You do get some money back , however you do pay about $25 each time
Jun 24th 2010, 9:35 pm
#39
Victorian Evangelist
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
Re: Should we do it or not
Jun 24th 2010, 10:30 pm
#41
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,814
Re: Should we do it or not
She's right, you don't NEED it, but some people think it is a good idea. Eg there are no NHS dentists here and dentistry can be v expensive. Also waiting times for some elective surgery seem very high, probably worse than the NHS. Having said that you might be better off saving the $2000+ a year you spend on insurance and using the money to 'go private' if you ever have to.
Jun 25th 2010, 3:39 am
#42
BE Forum Addict
Joined: Feb 2008
Location: Australia
Posts: 2,594
Re: Should we do it or not
Ok Little update
I have been offered the Salary of 90k as you all know.
They also offered initial set up costs when we arrive, 4 weeks in an Apartment close to office, as well as arranging a company to assist in finding a rental home, schools etc.
Unfortunately we have very little savings and it cannot be done without any assistance when we get there. So the agent is going back to see whether they could do a lump sum of $10k when we get to brisbane. This however would be a substitute to a payrise, which would have been after 6 months. I personally prefer this.
I have read one of the replies and got me thinking, I made a mistake on the train/bus cost, as everything seems to be weekly, just took the monthly amount to be weekly, it should actually be about $170 and this is for 4 zones, so may be less.
If we are able to get a loan for a used car, then the monthly amount would be much less than $800. I am going on the assumption that people seem to struggle to get a loan from banks on a 457 visa. $800 is for a new car costing around $30,000
Rent - 2000
Car - 800
Car Insurance - 50
Fuel - 180
Contents Insurance - 41
Food - 1000
Train/Bus - 170
Gas/Electric - 150
Medical Insurance - 250
So its looking a little bit better but only if we can get the assistance.
Both my wife and I have already done the WHV albeit 10 years ago. So we both know what its like, I know it will be very different to actually living there.
Thanks again for all your replies
I have been offered the Salary of 90k as you all know.
They also offered initial set up costs when we arrive, 4 weeks in an Apartment close to office, as well as arranging a company to assist in finding a rental home, schools etc.
Unfortunately we have very little savings and it cannot be done without any assistance when we get there. So the agent is going back to see whether they could do a lump sum of $10k when we get to brisbane. This however would be a substitute to a payrise, which would have been after 6 months. I personally prefer this.
I have read one of the replies and got me thinking, I made a mistake on the train/bus cost, as everything seems to be weekly, just took the monthly amount to be weekly, it should actually be about $170 and this is for 4 zones, so may be less.
If we are able to get a loan for a used car, then the monthly amount would be much less than $800. I am going on the assumption that people seem to struggle to get a loan from banks on a 457 visa. $800 is for a new car costing around $30,000
Rent - 2000
Car - 800
Car Insurance - 50
Fuel - 180
Contents Insurance - 41
Food - 1000
Train/Bus - 170
Gas/Electric - 150
Medical Insurance - 250
So its looking a little bit better but only if we can get the assistance.
Both my wife and I have already done the WHV albeit 10 years ago. So we both know what its like, I know it will be very different to actually living there.
Thanks again for all your replies
Good Luck!
Jun 25th 2010, 5:12 am
#43
Forum Regular
Joined: Mar 2007
Posts: 35
Re: Should we do it or not
"If you are overseas, you must arrange adequate insurance for your initial period in Australia and provide evidence of this insurance as part of your application. You may be eligible to then enrol with Medicare once you are in Australia. Being enrolled with Medicare is sufficient to comply with visa condition 8501."
As you would be eligible to enrol with medicare almost straight away (within two weeks?) couldn't you just have travel insurance then switch to Medicare.
Sorry, being pedantic.
