Living in Melbourne
 

Hi there,

Does anyone know of any nice areas to move to Melbourne on a budget of $80000-$100000 gross salary? I'm not sure if this is a good salary in 'Melbourne Terms' and what areas I would be able to afford to live in.

Ideally, I'd like to be close to a beach if poss.

Cheers,

Rich.

Re: Living in Melbourne
 

its a decent salary and the answer is St kilda

Re: Living in Melbourne
 

Many thanks Weebie. I'll check that out.

Re: Living in Melbourne
 

Not for St Kilda unless you want to live in a tiny flat

You had better try further out like Beaumaris or Sandringham.

Re: Living in Melbourne
 

Thanks Geelong,

Yes a flat would not be ideal as I have a partner, daughter and a dog, so I would really need a house with a bit of a garden. An area with good schools is also a necessity because my daughter will be starting primary school in a few years.

Cheers,

Rich.

Re: Living in Melbourne
 

You will be working in CBD?

Suggest you have a look at Ashburton/Ashwood/Mount Waverley/Glen Waverley. Rentals about $400 to $600 for 3 bed house. Local state schools highly recommended in this area.

You might find good schools and cheap rental bayside but need to be further along ie Mordy (this is worth a look - chat with Buzzy-Bee for more local info)
I'm not in bayside so not on top of that area. But St Kilda/Brighton elwood properties are over $700 per week for decent housing.

How long a commute would you do? Mordy I think is 40 mins (again await to be corrected by local locals:D)

Glen Waverley is end of the line for a short train route into the CBD. Very popular with parents wanting good education via state system.

Sorry 80k to 100k is okay in comparison to average 40k to 60k but Inner Melbourne is not average - alot of people earning dual incomes of $300k of $400k each.

Have a look at www.realestate.com.au
or www.movingtomelbourne.co.uk - Kate you will find most helpful and her site has a great map which will help get you familar with the layout of Melbourne.

Re: Living in Melbourne
 

Many thanks for the info Geelong.

I probably will be working in the CBD, I'm currently in discussions with an employment agency so it's still early days as yet.

Just out of interest, on a salary of say $80,000, would it be realistic to afford a house for $600 per week? I'm not sure how much taxes, energy rates etc are, but would that be the top of my budget?

Thanks.

Re: Living in Melbourne
 

To add to the learned Gent's comments - Mordialloc and Parkdale are both beachside suburbs which are still reasonably priced, you can get an older home on a decent sized block for $550000 still. The new homes tend to be on tiny blocks as they are built by developers who subdivide.

The commute from Mordialloc to Parliament is about 40 mins although the express trains of which there are only about 3 a day do it in nearer 20 mins, only 5 stops. Add to this time to get to the station etc.

We enjoy living here, it has a good mix of everything and is a great area for families.

Buzzy

Re: Living in Melbourne
 

Many thanks for that Buzzy-Bee.

Would a salary of $80,000 get me a decent house and standard of living in these areas?

Rich.

Re: Living in Melbourne
 

Unless the train starts at Mordialloc you will be standing to the city as the trains are full from Frankston these days, my daughter travels to the city by train from Frankston and tells me its dire.

Have a look at Metlink site this gives you the train lines around the city and then you can look at the suburbs which follow them.

If you do not want beach I would be looking Burwood, Mount Waverley, Glen Waverley.

I have lived in Elwood and Caulfield and liked both of those suburbs. Trouble with Caulfield was that I had to take the tram to work and although its not far from the city it still took about an hour to get there as the trams are slower due to our motorists blocking their way. 64 and 68 trams from Caulfield. If you live in Glen Eira, Elsternwick then you can get the train on the Sandringham line from Elsternwick.

You could also consider going the other side of the Yarra and looking at Ascotvale, Essendon, Moonee Ponds, Pascovale.

http://www.metlinkmelbourne.com.au

Re: Living in Melbourne
 

The express train from caulfield is 12 mins - caulfield to parliament

Re: Living in Melbourne
 

The other week my tram broke down about 50m from the stop and appeared to be going nowhere so I decided to catch a train from Windsor station instead which is just a couple of mins away. Wow - I was shocked by the overcrowding...it was real London style! I think the Windsor train is on the Sandringham line.

Re: Living in Melbourne
 

For net income have a look at www.ato.gov.au (this is the tax office and provides all the information you need)

With a child you will be entitled to some centrelink (family benefit/assistance) payments depending on visa/pr status.

Personally I would work out your net and set a budget based on that - say 30% to 40%? but be prepared to raise depending on level of property you find.

If you use the realestate site you will get a better idea of rental prices - but remember what you see live is often different to the photos (often years old or strategically taken:sneaky:)

But put this all in perspective the average aussie is on about $60k and although they are already settled on $80k you will live comfortably not just survive. Just be careful with your spending and ensure your getting value for money - take into account all variables ie transport costs

As a renter you will not have to pay council taxes ie rates - this is borne on the owner.
Gas & Electricity - more expensive - both in terms of rate and consumption (either very hot so put on AC, or chilly and need heating)

You will need about $15k to $20k for a decent used vehicle - cars are cheaper here because they are held over a longer period of time ie average 7 years to the UK 3 years. But they appear more expensive when you initially buy them.

Re: Living in Melbourne
 

There can't be that many, certainly a few where both partners would be on $100-$150K each, but $400K each???

Of course in areas like St Kilda or South Yarra etc, it doesn't help that the majority of real estate seems to be flats or apartments, which makes the houses rarer.

Just to back this up - most people I know in St Kilda/Richmond/Prahran etc are young professionals, certainly not on the $400K salaries. Of course many people in the more expensive areas like Toorak, Malvern etc - well they are genuinely rich or on good salaries, or have bought into the market years ago.

Re: Living in Melbourne
 

In a word, and if you don't mind me asking, how big is your deposit for a house? I don't see how anyone can service a mortgage in those areas and have enough for unexpected bills unless they have a deposit or a second or additional income. Even renting will take a fair bit of cash.

I used to pay 1000 a month mortgage on about 87k and we were fine. Managed an overseas trip for 4 on that. No credit card debt.

That salary is OK for living on. You will not be rich.