Gray75

Hello, I’m looking for some word of wisdom.

we’ve got until August on our RRV and we’ve just this weekend decided it’s now or never. I never wanted to leave but long story, we did. It’s always been there on my mind to go back but didn’t want to break my parents hearts again however we have to live for ourselves. Kids (3) are very keen remembering the times when we lived there.
this time round we’re older, I’ll be 46, OH will be 42 and chances of us affording a mortgage are slim since house prices have increased so much and this time around I don’t want to have to worry that we can’t. Renting is a pain but I know it can be expensive with all the maintenance, insurance etc so maybe we just accept that we can’t own again. Is that the worst? Are we mad! The timeframe is killing me due the deadline of August with Covid limiting flights and therefore cost!

Beoz

Eh? That's the beauty of renting. You don't have to worry about maintenance, building insurance, etc. Let the owner do all that, and you can live in a better place, better location, than you may not be able to when buying.

the troubadour

Time will tell with regards to affording to purchase ability. No hurry for that . But renting has definite advantages. It gives time to check out the area. It can take time to really uncover exactly what is happening in any given area. ( drug issues are rather prominent in various forms, but also other social issues from dog barking to unruly neighbours) There are some appalling quality rents on the market. In WA, at least rentals are very hard to it. I wonder if QLD is much different? But I suspect the fundamentals remain the same.

quoll

You're knocking on in years too - once you get to 50 you are over the hill unless you have a really whizz bang in demand skill so you may well find it harder than you did before to find a job. You may have to be flexible and be prepared to move anywhere you can find a job and that may not be the "dream place" of many migrants. If you still have connections from your previous life you might be in with a better shot because it aint what you know that gets you places here! You're also going to have to work doubly hard on your superannuation to ensure that you will be able to retire eventually on a comfortable income - that's harder the older you are when you start to work on it.

Gray75

I’m pretty sure I never mentioned wanting to return to my ‘dream’ place. People have all sorts of reasons for wanting to move places and as I already live in what is described as a ‘dream island’ our reasons for wanting to be elsewhere aren’t necessarily the same as others.I’m not searching for a dream, just a different life to the one we have now. Someone suggested maybe moving to the UK but seeing as we have our PR visa and only moved back because my mother in law got ill it makes sense to go back seeing as we both loved it. My Mother in law died before she got to retirement.... all the pension for nothing.... it does make you think....

brits1

Unless you have a good pension and find well paid work and a nice deposit for a home then I would seriously think twice about what you are intending.

The above because when you stop working will you be able to live off your super, if your renting when your older will you be still able to afford the rent and long term rentals are not always long term.... if you think you'll hopefully eventually buy and only have a small deposit then can you afford to pay the repayments as they will be higher and a lot shorter time to pay than if you were younger. Old age without finincial backup is not something I would like or have to worry about and have planned for this and even though my mother died young but my dad died in his mid 80's it's not something I would gamble on personally. If money is not an issue with you and all your family are all in agreement then go for it. Good luck

quoll

No, I wasnt suggesting it was your "dream place" it's just that it is easier to find employment in places that other people dont want to live and generally they arent the sort of places that new migrants dream of when they contemplate Australia. You've lived here before so it wont shock you as much as someone fresh off the plane thinking that Aus is like H&A all over.

Amazulu

My experience is that this is a bit of an urban myth in reality - Daily Mail fodder basically. Okay, in my game age is not an issue - in fact quite the opposite, but I'm talking in general - I know plenty of older people who find work easily. Age discrimination may be a factor in industries that tend to have a younger workforce but generally it's not

abner

It can be done, starting from the ages you've mentioned, even to the point of owning a place outright before you're both retired (which is a really important goal to set up a decent retirement in Australia, and equally so as a financial lesson to impart on your children.). But you've got to be really disciplined about it.

greg123

To give you an idea. Myself,wife and 3 children came over 12 years ago. My wife and I were 44.
We rented for the first 3 years which I hated but it gave us chance to establish ourselves. We all found jobs eventually and age was never an issue. We took out a big mortgage after the first 3 years. Now 12 years later after being very disciplined but still enjoying ourselves ,we are mortgage free. The children have left home. And we both now work part time. So long as you put your mind to it anything can be done. Good luck.

BadgeIsBack

Agreed - spot on - it's amazing, I am now more on the Ops side and everyone I work with is often over 50 and a woman.
Infact, I am beginning to realise there is an entire cohort of quiet, acheiving women doing really quite well knocking over their mortgages or school fees.
Often the role is in consultancy and pays a lot more than many office jobs.

There is also a cohort of woman who have returned to work full-time after many years of running around with kids (working part-time) and starting off where they left - keeping in contact with old bosses who finds them a job in that consulting space.

If their husband is a medium-high earner it means they can do really quite well.

Amazulu

Cool. My wife, like me, is past 50 and is gainfully employed fulltime and earning quite a decent salary. Not boasting, but I earn quite a high income, so combined we're doing okay - especially now that school fees finished for us last year!

BadgeIsBack

Good for you, mate, (you smug git...)

Thinking about it, men are probably more age-discriminated against past say 55 for eg mgmt when women can clean up in consultancy and training roles. The pendulum swung.
If you are in sen mgt at 55, there's a sweet spot where the gravy train can continue...

Margaret4

We moved to 0z aged 43 with a very small amount of dosh and 2 kids. We rented for years and saved a teeny deposit and bought at age 51 a falling down house lol.We have just sold 6 years later and made a reasonable profit. We took the profit and bought a nice 2 bedroom apart in a nice area, we still ha e a big mortgage but it's now cheaper than renting.
We will prob be working till we are 100 lol, but we are financially better off than when we first.came to oz.
I am a nurse and hubby a printer who is currently only working part time due to covid hitting businesses hard .