Hi Everyone
I expect this has been asked a thousand times but I haven't sen it so here goes.
We are hoping to settle in Woodvale ( Northern Surburbs) and expect to need a mortage of approx 150K dollars. Would a salary of approx 60K P.A. before tax be enough for a family of 2 adults and 2 kids and allow for a reasonable lifestyle.
While I think of it has anyone from Ireland managed to open bank accounts before going to Aus and therefore made transfare of funds easier?

Thanks for any info

Shirley

Hi Shirl:

I can't speak if 60k is enough for 2 adults, 2 kids, but I will address the bank question. If it was Sydney 60k would not be enough, I would think at least 70k for two kids/two adults and things like how many cars, moving furniture or buying and what sort of school expenses the kids have. See if the Salary calculator at www.homefair.com will help you (they do have a link for International)

Now for the Bank question.

I am in US but I expect process will be the same.

1. Find an International Bank that has a local presence in Ireland (that you can go to) and an presence in Perth. I chose HSBC, but I expect Citibank, Barclays may be good choices. Others on the message board feel free to pipe in with Bank choices.

2. Go to the Australian Branch website and download the application forms.

There is one very important form I needed called the Identity checklist (100 points) which needed to be done locally. I would suggest calling the customer service line in AU to find out which forms you need to open an account from Ireland.

3. Go into the local bank presence in Ireland and have them help with the 100 point checklist. The bank officer there can also contact the AU bank officers if any issues arise. Explain that you are trying to open an AU account and they will help you open the account and authenticate your identity.

4. Once all forms filled out mail them to AU, then wait about 2-4 weeks for paperwork to finish and be mailed back. You should get your account number, ATM card, and one or more PIN mailings.

Important numbers to note from your banks mails:

BSB #
PBN #

BSB+PBN == Account Number for money transfer (I think about 15 digits)

Also find out what the SWIFT code (number) is for the AU bank because your initial deposit will need to be wired in. Something to ask on your call to the AU bank customer service.

5. Once all information available arrange a wire transfer from your bank to the AU bank. You can do the conversion beforehand (convert IE money to AU money). An alternative to the bank wire transfer is a currency broker. I used one based in Canada (http://www.xetrade.com). They have lower fees on the transfer and after some initial authorization faxes you can use them to transfer money and convert the money for you. You can also use them to send money back from AU to IE (or any country) if you wish as well.

Good luck

Salaries are low in Perth.

If you are both working then you should be able to earn $60K between you; if only one of you is working then you might not be able to earn that much.

Really depends on what kind of work you do. The average salary for Perth is around the $35K-$40K mark.

quote:

What's a good salary in Perth

Hi ,
I'm working in Singapore and getting S$4.9K and i got offer from Australia(Perth). They are offering AUS$5000 pm. Will it be enough or manageable for 2 people? Please guide me.

... has anyone from Ireland managed to open bank accounts before going to Aus

The Commonwealth Bank will let you open an account before you move:

http://www.commbank.com.au/movingtoaustralia/

I don't think they mind if you're Irish ;-)

HTH
--
Bill

Thanks for that link.

Ive previously lived in Perth, they didnt mind me being Irish!!

Maybe it was my good looks and charm

Caz

Hi Shirl,

Im trying to work out the same myself.
With 150,000 mortgage your repayments will be very small. I think I checked for a 300,000 25 years and it was something lie 517 per week. Lots of the real estate websites have a mortgage calculator on them. Its good to have a small mortgage as the interest rates in Australia are about 9% compared to what we are paying in Ireland 5.15 at the moment.

Then I was trying to work out living costs. One guy said for a family of 4, his food and drink bills per week was 250, then there is water rates and rates, they depend on your area and size of house I think (est. 1800 per year).

Car loan? Will you be buying a car and getting a loan. Repayments?

Petrol and Diesel is way cheaper over there.

I found a website where a guy had given an example of his outgoing. If I find it, I will give you the link.

Good luck with it.
Kind Regards
Caz
Moving from Mayo to Perth!! hopefully

Hi Shirl,

We're in Melbourne and have just secured a similar mortgage on a 65k income with HSBC. I would research banks online and contact them to discuss their products. Banks over here work in a similar fashion, as they will base their decision on the abiliy to repay the loan, so your income is important. Remember, don't financially stretch yourself. Perth similar to other parts of Australia have had exceptional growth rates in the housing market. I think Perth was gaining 36% annually at one point. Don't let your dream become your nightmare, build in financial tolerances to avoid mortgage stress!

Cost of living is moving upwards in Aus and your salary to this living is relative. So I'd avoid comparison with Ireland. Plenty of research on the web, read the age and the herald sun newspapers to get a understanding of the Aussie economy.

This is a good web site to get a view on the cost of living for an average family and is based on real numbers

http://www.aussiemove.com/aus/costlive.asp

How could a family survive on $60k AUS?