Vanessa

[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.

DJMA

[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?

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

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.

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.

charlie brown

ok being oldie as well , what do you lot think that you would have to earn to live and pay bills, cos you are all getting me worried as we though we had done the research but ours didn't come to 110,000 this has got me thinking ,can we really afford to go or is the average 65,000 which keeps coming up in people's earnings enough

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 �*£1 earned the UK. I'd say that this is an accurate guide.

possoms

Sorry I thought you'd included a mortgage payment in your spreadsheet?

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.

charlie brown

looks like i will be working then , may be ,don't know ,ok, just going to go be brave , and see what comes of it all , AS THTHEYAY BEST LAID PLANS OF MICE AND MEN :scared:

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, thus they end up back in the wage cycle.

Badge

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 ..

Badge

very true

eintracht

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 ?

Tiawamutu

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...

stevereed

I've just done microeconomics at uni, supply and demand are areas close to my heart :-)

[QUOTE=Vanessa]