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Money question please?

Money question please?

Old Dec 29th 2007, 10:32 pm
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Default Money question please?

I have no idea how far money goes in Perth as I am still in the UK and still in the deciding stage. But my husband has been offered a salary of $100,000. Is that enough for a family of 4 (kids 8 and 10) to live off. I`ve done some research and with the money we bring from the Uk we prob would be looking at a mortgage of about $300,000. Is that normal? And could we afford everything?
Please advise.
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Old Dec 29th 2007, 10:40 pm
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Default Re: Money question please?

It all depends on your lifestyle but in general I'd say you will be fine with that set up.
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Old Dec 29th 2007, 10:40 pm
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Default Re: Money question please?

Originally Posted by bella-71 View Post
I have no idea how far money goes in Perth as I am still in the UK and still in the deciding stage. But my husband has been offered a salary of $100,000. Is that enough for a family of 4 (kids 8 and 10) to live off. I`ve done some research and with the money we bring from the Uk we prob would be looking at a mortgage of about $300,000. Is that normal? And could we afford everything?
Please advise.
Don't know about living in Perth as we are in Brisbane, but I have a salary of $80,000 and we are living very comfortably even with my wife not working, we also have a $360,000 mortgage and no other debts, so $100,000 should be okay.

Hope that helps

Bobby
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Old Dec 29th 2007, 10:44 pm
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Default Re: Money question please?

Wow thanks for the quick replies! I know $100,000 sounds a lot (if it was pounds it def would be!) but I've read lots of posts about the cost of schooling and the price of food etc so was getting a bit worried. Its a relief to get some feed back on here. Cheers!
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Old Dec 30th 2007, 1:08 am
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Question Re: Money question please?

hi bobby, tyke and bella.
same question with little bit more detail: I am thinking of moving to NSW sydney, currently working in IT in London (around£60k/yr), own house, family of 5 (3 kids - 10, 8, 7). what sort of prices are for 4-5 bed house there - lets say 30 min outside citycenter in nice suburb or even moderately modern village with good schools catchment?
if we move, then we will sell the uk house and buy property (house or land with enough left over money to build a new one) with that money. Would we have to pay tax in oz when we transfer that money to oz?
Also, what are the living costs (schools, health, general)? And is it too hard to buy your own land and build a house with your own design?
Any more info welcome!!
Many thanks in adv and happy new year.
Mo (30Dec08)
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Old Dec 30th 2007, 1:13 am
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Default Re: Money question please?

Originally Posted by bella-71 View Post
Wow thanks for the quick replies! I know $100,000 sounds a lot (if it was pounds it def would be!) but I've read lots of posts about the cost of schooling and the price of food etc so was getting a bit worried. Its a relief to get some feed back on here. Cheers!
$100K is a fair chunk over the average wage but it's not something to start feeling money-guilt about

In Brisbane you'd be fine if you are living an 'average' lifestyle with no extra debt (credit cards, car loans), etc.

In Perth, no idea I'm afraid, I'm sure there will be some peeps around soon who are closer to the action that will give you a more accurate pointer.

Good luck with the plans!
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Old Dec 30th 2007, 1:18 am
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Default Re: Money question please?

Originally Posted by bella-71 View Post
I have no idea how far money goes in Perth as I am still in the UK and still in the deciding stage. But my husband has been offered a salary of $100,000. Is that enough for a family of 4 (kids 8 and 10) to live off. I`ve done some research and with the money we bring from the Uk we prob would be looking at a mortgage of about $300,000. Is that normal? And could we afford everything?
Please advise.
No you would be struggling
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Old Dec 30th 2007, 1:20 am
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Default Re: Money question please?

Originally Posted by mr-vmware View Post
hi bobby, tyke and bella.
same question with little bit more detail: I am thinking of moving to NSW sydney, currently working in IT in London (around£60k/yr), own house, family of 5 (3 kids - 10, 8, 7). what sort of prices are for 4-5 bed house there - lets say 30 min outside citycenter in nice suburb or even moderately modern village with good schools catchment?
if we move, then we will sell the uk house and buy property (house or land with enough left over money to build a new one) with that money. Would we have to pay tax in oz when we transfer that money to oz?
Also, what are the living costs (schools, health, general)? And is it too hard to buy your own land and build a house with your own design?
Any more info welcome!!
Many thanks in adv and happy new year.
Mo (30Dec08)
Hiya

When we moved here we did not have to pay any tax on any proceeds from personal assets such as house and goods.
We did have to settle our taxes in the UK with the sale of our business interests though.
The private and business capital was not taxed by Aus as it arrived.

I'm in Adelaide so I can't give any info on Sydney.
In general I'd say it is a higher cost over living than you first expect.You MUST think in Dollars and what you are earning here!

Good for you having capital enough to be mortgage free

Building can be a nightmare,plenty of research into builders required.There are about 5 builders here in Adelaide and mainly they are accused of rushing/poor quality work. Be very careful.
Not built ourselves,we were very lucky to find a bit of paradise on our first reccie trip in 97.Wahaay! - solid brick as well

Good luck
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Old Dec 30th 2007, 11:36 pm
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Default Re: Money question please?

Tyke, thaks for the reply . I am hoping to visit oz in Jan/Feb 08 for 10 days to look around and recce the area. Hopefully that will help with decisions and planning.
Regards,
Mo
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