Ria_Wild

To anyone that hasn't sold a house but for the rest of us that only have 'normal' savings - how much savings did you have/do you have as a buffer?

Ria_Wild

We have a buffer of around £3,000 & I have a job to go to so hopefully that will be enough whilst Mr Ria looks for a job, deposit on flat, getting new stuff etc.

znaylor1974

I'm going to a job that provides a serviced apartment for a few months, but have transferred about £2000 into a commonwealth bank account.

ljj

We were fortunate to borrow GBP 10K for our adventure in Oz. Mainly because we didn't want to live anywhere apart from our uk house if things didn't work out in Oz.My in-laws lent us the money on the proviso that when we sold our house we gave them the money back then.

In short we emigrated with 2 kids, 6 suitcases, golf clubs and a dolls house and GBP10,000 to start our new lives (+ not much more $$ of our own savings from selling most of our UK stuff and after we had paid for our flights) - we didn't have a house or jobs in Oz. We rented out our UK house even though we didn't expect to go back. We tried to sell after our first tenants left but the housing market had frozen (about 3 years ago) and eventually we sold in 2006 but the house was never empty of tenants and the house value went up by 20% (not a huge amount I know).

We are great believers of things happen for a reason - it may not seem like it at the time. I think everything worked out well for us:

Made us realise even more that happiness it not materialistic.
Meant we rented in 2 different houses here so we got a good idea of what was important to us in a house when we could afford to buy.
We were very established in an area so knew it well and bought 2 suburbs away - this would have also worked if we had made a mistake we wouldn't have been tied to one area with only renting.
We emigrated into Sydney as we had family there and over past years (work trips and holidays) had spent nearly 6 months total there - We checked out Melbourne 1 week after emigrating before we got settled etc and fell in love with Melbourne but because we didn't have a container of furniture etc it was so easy to relocate after one week with a rental car and just luggage.
We are terrible savers - if we had sold our house and had the GBP 60K to start off with we would have spent it on starting ourselves up, and exploring Oz - rather than our $120k deposit and a bit left over for the house we have just bought. We rented in one of the nicest (and $$ suburbs in Melbourne) and yet still had enough money to visit the Whitsundays, Tropical North Queensland and Victoria - the bargains are there if you look for them. The cost of living is cheaper providing you eat and entertain and socialise like an Ozzie and not like a Pom.
You don't need a fortune to make a go of it- sure it may be easier but wouldn't it be in the UK?
After 4 years here and after our first trip back to the UK last month we feel we made the correct choice FOR US.

Good luck in your adventure I wish you well with everything.

LJJ
PS I'm still buying lottery tickets!

Gems

Hello,

It all depends on if you have jobs, or family to help out.

We did not take much money. However had a job for arrival and housing supplied.We worked overseas so did not have a housesale to use.
So did not have vast amounts to get started.

5 weeks later and we are in 4 bedroom house, and the new Nissan Pathfinder arrives today! (car on finance)

I have read on here months ago people saying you need thousands, but then read people have went with hardly anything. One family went with enough for a really old car, but worked there butts off and 12 months later had bought a house and the old car was still going.

Yes, life would be easier if we all had huge wallets stuffed with cash. But not everyone is in that position.

Rather than reading how much other people need, do research and write lists.
e.g. rental costs, jobs info, used car and new car costs etc. Work out and plan. Eg. dealership said for a new car you need 10-15% deposit, or go salary packaging for no deposit.


Also talk about what you are prepared to do without. Eg. we had two great weeks in Perth, but did not hire a car. Used free cat bus/public transport and went on train to Fremantle. Saved us heaps.

Its easy to get disheartened by others who are in better financial position. Great if you have it, but sometimes its still possible to get to Oz with less.

Good Luck

GEMS

themerlin

We just stayed in cheap accommodation , about $120 a week i think. That way we didn't burn though out savings.
Not like some people who get here buy a new car and start renting an expensive house before they have jobs, good way to loose all your savings !

Gems

PS, we live 904km from the city so getting a reliable car was essential! Otherwise it would have been way down on my list, but Oz distance are vast especially if you live in the country.

Lugging around food shopping from Woolworths for 4 kids is no fun! My lot eat way too much!

GEMS

DCI Gene Hunt

I had a suitcase, 600UKP and a job to go to. Lived on a blow up mattress in a dodgy shared house for the first 3 months....then upgraded to a dodgy futon.

xzibit

When I go over, I will be hopefully taking about £20k (A$47k ish) and I'm hoping that this will be enough to tide me over.

I will be going on my own, 24 year old, looking to rent somewhere small as soon as I arrive.

BrisbaneBound2008

Normal savings - hoping to reach £40k by next May - doing OK, in fact, getting a bit obsessed about saving the dollars!!!!! We're driving family and friends mad! (and they're not too happy anway!)

Plan on having £10k at most as proper buffer, rest use as deposit on a house. Hopefully get jobs ASAP, hubby is a bricklayer.

Reckon it can be done on any budget though if you try hard enough!

tomy2tums

we're over the £40k mark too, although I have a good paying job (company transfer). Most of it will be spent on a new car, a whole load of new stuff for the house, and a deposit for a house when we find one.

hollykimalan

We hope to take about £65K. We intend to use $100K as a deposit and the rest on travelling to Oz and other expenses...Just hope the exchange rate doesnt worsen!
Alan

paulhill

I dont think it matters how much you bring over but please remember that you can only borrow 60% for a mortgage as you will have no documentation therefore need a "Low Doc Loan". These are easy to get as long as you have the additional 40%. Also interest rates are 6.5% and expected to rise again in Oct/Nov 07.

We came over with $250k for a house deposit and $100k to purchase cars, furniture and general living expenses etc.

Most things are the same cost as in the UK - food, household expenses etc but a lot of things are free - going to the beach, picnics etc.

Like with anything if you work at it you will get there in the end, it just may take a little long than expected.

yellowmellow

Luckily we have a business to sell before we go so we will have about 10-16K to start with and we are going to a job also, that has a house and a car.

One way we are happy not to have a house to sell but another we are a bit peed off!