Gill123

Hi All

We have been living north of Perth for nearly two years and have reached a point where we want to consider whether we stay here or move back to UK.

Living here, we have a lovely house with pool which is a 2 minute drive to the beach. We have a $350,000 mortgage. We have built a new house in a new area and have been lucky enough to make $200,000 profit on the house.

With the current rate of exchange from AUD to GBP, we could move back to the North East of England and buy a good standard 4 bed detached house in the area we came from and be mortgage free and have a good chunk of money left in the bank.

My family is kind of settled here although I am working in a job that I absolutely do not enjoy and am earning little from, but don't have an alternative due to lack of childcare. We are all missing family in the UK and I dread the time when we get a call to say a close relative is ill. I can see good points and bad points to living here but I do miss the life we had in the UK. My husband and I are in our late 30's and the thought of being mortgage free at this age is very attractive.

I'd like to know what people would do in our position. Mortgage free in the UK or a 30 year mortgage in Australia?

ABCDiamond

That does make the UK seem quite attractive.

It would be a hard choice for me, but one I would consider if I was in that position. Although I like the weather here, so I am glad I don't have to make that choice.

For you, the choice does seem easier. But it does come down to how happy you would be back in the UK. We are all different.

Kingseat

That is a hard one. For me (and personally speaking) I'd probably go with the UK mortgage free option however, that decision would also be based on the family unit and how strong the pull was to remain in Perth or if they were indifferent to starting again in the UK.

I think you also need to think about schooling, your ages (ie how old you would be when the 30 years was up) etc.

Good luck,

Gill123

Our girls are aged nearly 3 and 9 so young enough for the move not to be difficult in terms of schooling.

Dreamy

If it was a straightforward question then it would be a straightforward answer - you'd be mad to stay in Australia.

But things are never that simple. You'd need to look at the reasons why you emigrated in the first place, if your husband would easily find work back in the UK, if you'd find a more fulfilling job, if you'd feel happier in Australia if you could find a job that you enjoyed, would you settle back into life in the UK, would you miss your life here if you moved, is it just the financial pull back home (and that 30year mortgage doesn't have to be 30years).. these are just questions off the top of my head, I'm sure you could think of plenty of others that you'd need to answer too.

I don't envy you your decision, but good luck in whatever you decide to do

ozzieeagle

Mortgage free UK easy choice.

You can visit Aus as often as you want if thats the case.... More and more so as you become more financial. Earn enough to retire ASAP and then you can possibly go wherever you want.... probably only take another 8-12 years. Which means you could be retired in Aus in 12 years time.... Exchange rates permitting.

Depends on how much you earn back in the UK mostly,.

pproehann

Don't think the mortgage is really the key as you could move back to UK and be mortgage free and miserable and would have been better off in Aus with a 30 year mortgage or you go back to UK and find everything is what you want. The mortgage won't stop you being happy it's the choice of where you want to be that will.

harrip

Get PR if not already done and then move where the wind takes you i.e. maybe back to the UK but at least with the option to be able to live in Australia later in life if you wish.

pomtastic

I'd be interested to know where you have bought near the beach to have made $200K, NOR in 2 years.

Plenty of homes beachside NOR that are sitting unsold, only heavily discounted ones are selling.

Anyway, well done, the thought of being able to have no mortgage and put all your future earnings into retirement is very attractive and not having to worry too much about unemployment, reduced hours or illness. A $350K mortage is a biggie and won't leave you much room for saving unless you are both on big bucks.

The UK newspapers are awash with stories of more house price falls to come, so I wouldn't be in a rush to buy if you chose to go back.

Gill123

We are in Burns Beach which is currently proving to be a very popular place - thankfully.

Within a few months of buying our land early 2009, the price of the next door plot increased by $20,000 and further plot releases are getting more and more expensive.

The idea of being mortgage free in the UK is very appealing.

Lots to think about......

Safin

Money don't buy you happiness - though I'd rather be happy and rich!

Mortgage free isn't the be all and end - all it's about the overall balance. Weigh it all up, write a list, add to it, add in factors for uncertainty and then .......leap

BadgeIsBack

Would be great - but are you saying you can buy a 4 bed home for ~GBP100k!!

A post which sounds like what people used to post from the other side...

Gill123

No!!!!

We would be going back to the UK with about GBP300,000 - as long as the exchange rate stays below 1.8

It is true to say that being mortgage free anywhere doesn't guarantee happiness, but when you are missing family and friends in the UK and are not 100% sure that your future is in Australia, being mortgage free in the UK is sounding pretty good.

We had a good life in the UK and assumed we would be as successful here, but it just hasn't happened. We've been lucky to make a good choice with the house build and will be taking back more money than we came with. We hope to make it work out for us in the UK again. Obviously not having a mortgage will take the stress and pressure out of life to some degree.

BadgeIsBack

Probably clear-cut then...

fish.01

Or move to a smaller house in australia in a better area with childcare.