ozzydreamer

Imtrying to draw up a list so I can roughly calculate how much money we need to save up. Please feel free to tell me your experiences, if Ive over-estimated, underestimated on anything, or just being plain stupid
Im a begininer, so please go easy on me before you

(This is for 2 adults from UK and 2 children under 5)

Visa's and health checks etc: Currently finding out
Legal Fee's:
Shipping: £3500
Plane Tickets: £2000 to £3000
2 months rent: dont know where yet -so will update but estimate: £2000
Money for 2 cars when arrive: £1000 to £2000 - not fussy!
Car insurance for 2 cars a year: £500 to £800
1 month car hire: £500
Accomodation for on route: £200
Money for 2 months spending and food bills: £1500







Please feel free to add, I will add as I go along and find out more

paddyo

Our quote from Singapore Airlines for London to Sydney with a 2 night stop in Singapore is £1356 one way for 2 adults and a 3 yr old.

Not sure where you intend to live but we have capped ourselves at £1130 per month rent which is based on a $600 dollar a week property which should get a nice 3 bed in a good suburb.

We have allocated $150 a week for food which comes out at £270 monthly.

As for cars, be ready for a big suprise cos even though you are not fussy they are expensive and hold their price 2nd hand. We are not planning on geting a car unless it is absolutely necessary, my colleagues out there use public transport which is excellent. For example £2000 would get you a 1990 Ford!!!

ozzydreamer

Will bear that in mind for cars, running around in a 1996 Golf at mo. which cost £1400 about 3 years ago, so big shock! Will try to live off one car to start with, so will consider transport for location

paddyo

Bear in mind I am quoting Sydney prices which probably differ vastly from others!

ozzydreamer

ok, so ammended:

OH visaand medical, do it ourseleves: £2000
Shipping costs, or money for furniture if dont ship: £3500
Flights and accomodation: £2000
Legal fee's to rent out house in UK: £3000
Rent for 2 months: £2000
Food and spending money an d bills for 2 months: £1500
Car: £2500
Insurance/tax for car: £500 to £800
1 month car hire if necessary: £500

Total so far: £17,800!!

We estimated between 15 and 20 thousand, so in the middle at moment!

paddyo

Why have you quoted £3000 legal fees to rent out your house in UK? Are you not using a Letting Agent to manage it for you? Ours is charging 10% of rental + VAT. That way its managed through the term of rental rather than a lump sum up front.

ozzydreamer

Dont know, thats what soemone else put in another thread so thought Id copy Supose its beter to over estimate!!
Havent got a clue about buy to let, if we have to change all documents, what it would cost etc. so searched topics on here and came up with that random figure, only found one figure on here!

LoobyLoo!

At least you have a realistic estimate, we origanally guessed it would cost about £10k tops, how wrong we could be

paddyo

All we are required to do is confirm permission from the Mortgage Provider that we can sub let and ensure our home insurance also gets amended to reflect that.

ozzydreamer

So you didnt need to get a solicitor to change anything? Presumed there would be legal work. Did your mortgage rate go up much? I read on here somewhere that you have to pay slightly more each month?

ozzydreamer

Can you also elaborate on the 10% of rental? Is that done yearly, or monthly? And what happens if they dont rent it out for a month, do you strill have to pay them 10%?

Centurion

There are no legal fees to rent out your house. Appoint a managing agent and they will simply draft the tenancy with the incoming tenants anyhow.

paddyo

Exactly, as for the mortgage we just have to pay a £100 admin fee and everything else stays the same. The Letting fee is taken out of the rent...no rent no fee so the onus is on them to ensure it is kept occupied plus they minimum let is 6 months.

paulhill

Hi

I think your food, spending money and bills needs to be doubled. With the exchange rate about 2.1 you have only left yourself $390 a week! On average we spend $250 to $300 a week food alone, then you have fuel which for us is $100 a week etc. Also we found car hire to be really expensive aswelll.

In relation to renting, you may find it difficult to find a rental for just 2 months, most are usually for a minimum of 6 months. 20k should be okay as long as you are careful!

All the best Sue

ozzydreamer

Thanks for the input on food etc. The £3000 from legal costs can cover that as I over-estimated costs of renting out UK property.