financial gains
Oct 21st 2010, 9:40 am
#1
Forum Regular
Thread Starter
Joined: Sep 2010
Posts: 60
financial gains
Guys,
Just wondering if anyone has been in the same situation...
I don't think I am getting any financial gain with sydney move and on top of that I stillhave my house on the market for sale with bleak economic view ahead.
Has anyone been in the same situation and have moved..certianly not looking for financial fains in the move but any views with someone in a similar situation would be appreciated.. Cheers
Just wondering if anyone has been in the same situation...
I don't think I am getting any financial gain with sydney move and on top of that I stillhave my house on the market for sale with bleak economic view ahead.
Has anyone been in the same situation and have moved..certianly not looking for financial fains in the move but any views with someone in a similar situation would be appreciated.. Cheers
Oct 21st 2010, 9:55 am
#2
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: financial gains
Guys,
Just wondering if anyone has been in the same situation...
I don't think I am getting any financial gain with sydney move and on top of that I stillhave my house on the market for sale with bleak economic view ahead.
Has anyone been in the same situation and have moved..certianly not looking for financial fains in the move but any views with someone in a similar situation would be appreciated.. Cheers
Just wondering if anyone has been in the same situation...
I don't think I am getting any financial gain with sydney move and on top of that I stillhave my house on the market for sale with bleak economic view ahead.
Has anyone been in the same situation and have moved..certianly not looking for financial fains in the move but any views with someone in a similar situation would be appreciated.. Cheers
Not sure if I am fully understanding what you are asking, you start by suggesting that you are concerned about financial gain but end to say you are not looking for financial gain.
But anyway around the matter in general, I am sure lots of people are in the same situation now. It simply is no longer the case that one can sell up a three bedroom terrace in UK and buy a six bedroom mansion with pool in Australia with the proceeds.
We are not financially better off in Australia, our disposable income after rent here is most definitely less than disposable income in the UK. In the UK I took some time off work and we lived off my husband's income, if I didn't work here we would have to move into an apartment. We think we will leave our savings where they are (in UK) for time being and we think we won't sell the house right now because of the housing prices and the FX rate.
We moved for the adventure, the life experience and to try something new.
If financial gain is a key motivator behind your move, then don't do it I say.
Oct 21st 2010, 12:09 pm
#3
Forum Regular
Thread Starter
Joined: Sep 2010
Posts: 60
Re: financial gains
Hi there,
Not sure if I am fully understanding what you are asking, you start by suggesting that you are concerned about financial gain but end to say you are not looking for financial gain.
But anyway around the matter in general, I am sure lots of people are in the same situation now. It simply is no longer the case that one can sell up a three bedroom terrace in UK and buy a six bedroom mansion with pool in Australia with the proceeds.
We are not financially better off in Australia, our disposable income after rent here is most definitely less than disposable income in the UK. In the UK I took some time off work and we lived off my husband's income, if I didn't work here we would have to move into an apartment. We think we will leave our savings where they are (in UK) for time being and we think we won't sell the house right now because of the housing prices and the FX rate.
We moved for the adventure, the life experience and to try something new.
If financial gain is a key motivator behind your move, then don't do it I say.
Not sure if I am fully understanding what you are asking, you start by suggesting that you are concerned about financial gain but end to say you are not looking for financial gain.
But anyway around the matter in general, I am sure lots of people are in the same situation now. It simply is no longer the case that one can sell up a three bedroom terrace in UK and buy a six bedroom mansion with pool in Australia with the proceeds.
We are not financially better off in Australia, our disposable income after rent here is most definitely less than disposable income in the UK. In the UK I took some time off work and we lived off my husband's income, if I didn't work here we would have to move into an apartment. We think we will leave our savings where they are (in UK) for time being and we think we won't sell the house right now because of the housing prices and the FX rate.
We moved for the adventure, the life experience and to try something new.
If financial gain is a key motivator behind your move, then don't do it I say.
Sorry for being a bit ambiguous, I was trying to assess my situation, not able to sell house, am in a stable job, can't rent it out because of consent to lease high interest rate so untill our house is sold, we would be saving less than we are currently as still will have to pay mortage here in the UK. Just thinking is it worth, in worst case if we have to pay UK mortgage for years. I would have been happy to make no profit no loss with the move but it hurts a bit to think about having less in saving kit for long.
Oct 21st 2010, 1:13 pm
#4
Just Joined
Joined: Jul 2010
Posts: 26
Re: financial gains
I'm not sure I understand you either but here is my take on it.
Years ago you could be quite potentially better of living and working in the UK than Australia. UK salaries on a 2.7 or thereabouts exchange rate were better. These days with the currect exchange rate I believe you are probably financially better off in Australia.
Take a salary of GBP£40,000. Once upon a time you might expect to see same job touting for about A$75,000. That was when the exchange rate was hovering around 2.8 so your UK salary got you a better buying power. Granted - housing costs were cheaper in Oz back then.
Nowadays a GBP£40,000 salary might be paying A$110,000 in my recent research in Oz and on a 1.6 exchange rate thats GBP£60,000 odd. Yet that offset with the housing costs have risen dramitically in Oz.
Don't expect salaries to be rising to fast in the UK in the near future either.
If you are paying off a UK mortgage and earning a good $A the exchange rate is in your favour at the moment. I know I can certainly earn more in Oz than the UK right now.
Years ago you could be quite potentially better of living and working in the UK than Australia. UK salaries on a 2.7 or thereabouts exchange rate were better. These days with the currect exchange rate I believe you are probably financially better off in Australia.
Take a salary of GBP£40,000. Once upon a time you might expect to see same job touting for about A$75,000. That was when the exchange rate was hovering around 2.8 so your UK salary got you a better buying power. Granted - housing costs were cheaper in Oz back then.
Nowadays a GBP£40,000 salary might be paying A$110,000 in my recent research in Oz and on a 1.6 exchange rate thats GBP£60,000 odd. Yet that offset with the housing costs have risen dramitically in Oz.
Don't expect salaries to be rising to fast in the UK in the near future either.
If you are paying off a UK mortgage and earning a good $A the exchange rate is in your favour at the moment. I know I can certainly earn more in Oz than the UK right now.
