Like many others on this site, after waiting, watching and hoping for the last 2 years, we have finally got our visa and are now trying to sell our house in UK in order to move out and start living the dream. Over the last 2 years we have sat helplessly watching as house prices and rentals costs seemed to increase in Adelaide almost as quickly as they slumped in UK. Not to mention the record drop in exchange rates too. Two years ago we thought we might actually be able to live mortgage free in Oz but now it looks as if we will need the biggest mortgage of our lives, quite a scary prospect.
My question is this...Is it still financially feezible to live the dream? When we finally sell our house and after all the costs of actually getting to Australia, we hope to have around £170 K (plenty or so I thought). Obviously we hope to get work ASAP and we do have friends to stay with very short term but we will need to sort out a 6 month rental while we find our feet so this money may well decrease.
Will it be posible to afford to buy a decent family home (we are looking everywhere from Hallett Cove to Port Noralunga inland and coastal) . My husband is a plumber and I am a Teaching Assistant and in the Uk we would not dream of having a £150 K mortgage, but due to rising house prices and poor exchange rate it would appear that this would be the reality of living in Adelaide now. To all those who have recently and not so recently moved over there, can it be done? Are jobs plentiful and well paid enough to fund such huge mortgages? Yet again on this long journey I am losing sleep and would love to hear from anyone doing it. :(