If You Were in Our Shoes What Would You Do?
 

Looking for some opinions please folks.

Nikki and I were granted our PR visas last October and are flying out to validate them next week.

We were not planning on moving until January 2008 to allow us time to save some money. We are currently lucky enough to live in a rent free property but we have just received notice from the owners that they have sold the property and need us out by 31 July.

Our dilema is - do we bring the move forward to August this year and go with the money we have which should be in the region of only £10k or do we buy a property here, keep it for a year and half and then try and sell it or finally do we rent for a while.

Personally I don't see rentng as an option as it's money down the drain but I can't see any rise in property prices here covering the legal and interest costs of purchasing here either. Moving so much sooner than planned is possible I suppose but with so little capital I think it will be a struggle.

So what do you think, should we stay and how or should we go early.

Cheers

JKA

Re: If You Were in Our Shoes What Would You Do?
 

If it was me, I'd go early. But then it's your decision really and I wish you luck with whatever you decide :)

Re: If You Were in Our Shoes What Would You Do?
 

We came over with about 5000 quid and did OK so don't think you can't do it with only 10 grand.

You want to know what I would do in your shoes? I would go for it when your current lease runs out. Otherwise you're just trying to establish yourself in a new place in the UK, before moving here and having to do it again 18 months later.

Re: If You Were in Our Shoes What Would You Do?
 

Will you be earning a lot less money in Australia? Was it just the rent money that you would have been saving here?

My opinion is go sooner rather than later.

Re: If You Were in Our Shoes What Would You Do?
 

Hiya

Probably will be earning a lot less to be honest - expecting to take a cut of almost half. Nikki is a Housing Officer and earns fairly good money doing what she does but isnt actually qualified to do anything and its unlikely they will have the same kind of job across there. I'm an accountant and wont have any australian law or tax experience and of course the wages in australia are generally lower anyway. It would have been the rent money and extra left over from wages after everything is else is paid that we would have been saving for the next year and a half.

JKA

Re: If You Were in Our Shoes What Would You Do?
 

I would go because the sooner you get out there the sooner you can get settled. Buying a house is a whole lot of hassle if your going to sell it when you move to Oz. And like you said you would have to make some decent money on it for it to be worth your while because of the fees and stuff.

Re: If You Were in Our Shoes What Would You Do?
 

Maybe you should start looking for a job there - a lot of companies do telephonic interviews. Then at least you'll get a good idea of what salary you will get.

Re: If You Were in Our Shoes What Would You Do?
 

Don't take anything for granted. Mrs M and I are actually earning almost 25% more than we did in the UK - though that's more her than me :) I'm in IT and she's in retail.

Re: If You Were in Our Shoes What Would You Do?
 

:D :D Hi,we are heading out as soon as our visa comes through we hope to be there by September,we have got around the same amount,we are looking to work as soon as we arrive,prepared to do anything to make it work for us,I would rather have 10 times what we have but we still cant wait to give it a go,good luck whatever you decide,Cheers Dave

Re: If You Were in Our Shoes What Would You Do?
 

Personally I would go earlier.

Re: If You Were in Our Shoes What Would You Do?
 

I think if you do decide to buy in the UK, the operative words would be "try and sell it". It would be hard to break even on the purchase anyway, I would imagine, but if you are aiming for coming to Oz in two years' time, you'd be having to put it on the market in a year to give yourselves the best chance of a sale. And you could end up with a property that you can't sell in time...

Cut your losses and come when your present lease expires. It may not be as much of a nest egg as you wanted, but it's still a foundation for your new life, and better than coming with nothing in reserve as some have to.

"Never put off until tomorrow...."? ;) Go for it - while you can!

Re: If You Were in Our Shoes What Would You Do?
 

personally, faced with the choice you have, I would go and give it my best shot. You can always come back if you don't like it/can't settle/things don't turn out as you hoped they would.

You could stay here and save, but then when will you have enough? You could always think "well if I had 5k more, or 10k more" but the thing is whatever amount you go with, if you are prepared to do what it takes you will succeed with the amount you have!

Best of luck with whatever you decide.

Shirley

Re: If You Were in Our Shoes What Would You Do?
 

In the present climate I certainly wouldn't be considering buying a property in the UK. There are tentative signs of the market improving, but you could easily be left with a house that turned into a millstone. At the moment you're free to live where you want and can up-sticks any time you fancy - ask the hundreds of people on this forum who are currently trying to sell and I reckon they'd swap places with you!

Re: If You Were in Our Shoes What Would You Do?
 

....they can buy my house if they like :D

Re: If You Were in Our Shoes What Would You Do?
 

Sounds like the perfect time to move. Go for it. :)