How much savings would you recommend to set up?
#1
Forum Regular
Thread Starter
Joined: Jul 2007
Posts: 159
How much savings would you recommend to set up?
Hi everyone, oh and I have a little one on the way, then hope to have another 1 or 2 and emigrate to Brisbane.
We have a 2 bed house in the South East of England which we are hoping we'll be able to rent out to cover mortgage. (May consider buying in Brisbane, but are currently planning on going over for a couple of years to see if we really want to commit)
So we are busy saving, but dont know what a sensible amount is to save up before emigrating? The savings would go towards the flights and visa's etc. first month or two's rent whilst we settle into work, back up money for uk mortgage, and anything else that we'd need it for!
We are guessing at £15 to £20,000, does that sound like its a reasonable guess?
We have a 2 bed house in the South East of England which we are hoping we'll be able to rent out to cover mortgage. (May consider buying in Brisbane, but are currently planning on going over for a couple of years to see if we really want to commit)
So we are busy saving, but dont know what a sensible amount is to save up before emigrating? The savings would go towards the flights and visa's etc. first month or two's rent whilst we settle into work, back up money for uk mortgage, and anything else that we'd need it for!
We are guessing at £15 to £20,000, does that sound like its a reasonable guess?
#2
Joined: Sep 2005
Posts: 23,400
Re: How much savings would you recommend to set up?
There are some that go with several hundred thousand pounds and are concerned if this will be enough.
And there are many that go with the 'bare bones' and some with more.
I suppose what is enough for one person may well not be for another depending on spending habits, family size etc.
Good luck.
And there are many that go with the 'bare bones' and some with more.
I suppose what is enough for one person may well not be for another depending on spending habits, family size etc.
Good luck.
#3
Forum Regular
Thread Starter
Joined: Jul 2007
Posts: 159
Re: How much savings would you recommend to set up?
OMG the only way we could go with hundred's of thousands would be if we sold our house here! But we know if we ever wanted to return we wouldnt be able to afford to buy a new house here again!
If I didnt have a baby on the way then Id have considered going with just s few bags, so I guess we will just have to save hard and take a small risk in favour of an exellent life - will take my eye of those new shoes then lol
If I didnt have a baby on the way then Id have considered going with just s few bags, so I guess we will just have to save hard and take a small risk in favour of an exellent life - will take my eye of those new shoes then lol
#4
Forum Regular
Joined: Feb 2007
Location: Perth, WA
Posts: 46
Re: How much savings would you recommend to set up?
Suggest you look at cost of living, factoring in which city/suburbs, what you like/want/can afford, job opportunities/wages etc - plenty of discussions on these on BE, just need to search and read through to get a feel. Some people give their personal examples/opinions on what costs they incurred and from that you can better guestimate whether £15-20k will be enough for you or not.
Additionally if you can or are planning to go there for a reccie visit, you can see for yourself what costs how much where...
Hope that helps
Additionally if you can or are planning to go there for a reccie visit, you can see for yourself what costs how much where...
Hope that helps