Guest graandjac

Not all bad on the Exchange Rate ..........!!!!

    Recommended Posts

    Guest graandjac

    We were also (18 months ago) on a dropping £/$ and it was a huge drop in the dollors we ended up with.........but look on the bright side, there is a flip side to this.

     

    Australia has just put up intrest rates, the first of the developed countries to do so, for the second month in a row the unenployed rate has dropped, and house prices are showing signs of rising, I know how much people bring has a huge bearing on the start they will get , but be a assured that the Australian economy is in a very good position in the world right now, and the word recession doesn't even get used, just trying to shed some goodness on the falling rate:)

    Share this post


    Link to post
    Share on other sites
    Guest mOZzy

    we really could use something positive!!

     

    so far we had every negative possible on our journey :(

    Share this post


    Link to post
    Share on other sites
    Guest covfan71

    I hope it picks up soon because financially we will be in no better off position in Oz to what we are here in the UK. We were hoping to be mortgage free but at the moment we need to find another $80k

    Share this post


    Link to post
    Share on other sites
    Guest guest3462

    It has worked out well for us as we had to send all our savings back to the UK to pay the shortfall on the mortgage as we have finally sold our UK house for £75,000 less than the asking price!!! Had to get rid of it so we could move on and start living our lives here without being in fear of bankruptcy!!! We have saved quite a few thousand dollars sending the money back now, which will in turn help us to landscape our garden in our new beautiful aussie house. Things are finally looking a bit more rosie in the Church household and we are loving every little minute!

    Share this post


    Link to post
    Share on other sites
    We were also (18 months ago) on a dropping £/$ and it was a huge drop in the dollors we ended up with.........but look on the bright side, there is a flip side to this.

     

    Australia has just put up intrest rates, the first of the developed countries to do so, for the second month in a row the unenployed rate has dropped, and house prices are showing signs of rising, I know how much people bring has a huge bearing on the start they will get , but be a assured that the Australian economy is in a very good position in the world right now, and the word recession doesn't even get used, just trying to shed some goodness on the falling rate:)

     

    Good on you for showing some positives, and I agree with the sentiment.

     

    While these are important indicators of a resilient economy, some of these still hurt, though, for many people: fewer and fewer migrants can live mortgage free, so rising interest rates can hit the pocket, and for those who don't yet own a house, rising house prices pushes the dream that bit further away ...

     

    Still, I'm glad that Aus has weathered the GFC as well as it's done!

     

    Jim

    Share this post


    Link to post
    Share on other sites
    Guest mayjess

    Money doesnt necessarily make you settle any better in OZ, we came with a good amount, came bk to the UK & will be going bk to OZ with prob enough just to start us off with a car.rent etc, but I know it will be much better 2 nd time round, we will never be morgage free, but I do not care, in fact I may not ever buy a house again, but that doesnt matter either to us, we all have different wants & needs in our lives!

     

    good luck to all stressing about rates etc, best to focus on what you are moving to OZ for, not about how much money you can make or save!

     

    Mayjess

    Share this post


    Link to post
    Share on other sites
    Guest covfan71
    Money doesnt necessarily make you settle any better in OZ, we came with a good amount, came bk to the UK & will be going bk to OZ with prob enough just to start us off with a car.rent etc, but I know it will be much better 2 nd time round, we will never be morgage free, but I do not care, in fact I may not ever buy a house again, but that doesnt matter either to us, we all have different wants & needs in our lives!

     

    good luck to all stressing about rates etc, best to focus on what you are moving to OZ for, not about how much money you can make or save!

     

    Mayjess

     

    I have to disagree with you a bit there. No, money shouldn't be the most important issue here but the difference in struggling to pay bills every month and being quite comfortable will always have an impact on life i think. With the exchange rate dropping and interest rates rising those if us coming over in the near future are going to be a lot worse off than origially planned. I know it has changed our original plans on what size/type house we wanted and which area to live in. It also has an impact on what jobs we will need to go for regarding what we are paid. Yes we would come over and have a better style of life etc but to go from the dream of a nice house with pool and have very little mortgage (if any) to having the same house with a large mortgage is slighly worrying. We would be no better off financially to what we are in the UK and that was one of the main factors in our new life.

    Share this post


    Link to post
    Share on other sites

    Were building a pretty big house on a not bad sized piece of land, we could never afford it in the yUK....we could only dream of owning our own place, let alone building our own back in the wetlands...

     

    So something has to different over here????

     

     

    HG

    Share this post


    Link to post
    Share on other sites
    Guest mayjess
    I have to disagree with you a bit there. No, money shouldn't be the most important issue here but the difference in struggling to pay bills every month and being quite comfortable will always have an impact on life i think. With the exchange rate dropping and interest rates rising those if us coming over in the near future are going to be a lot worse off than origially planned. I know it has changed our original plans on what size/type house we wanted and which area to live in. It also has an impact on what jobs we will need to go for regarding what we are paid. Yes we would come over and have a better style of life etc but to go from the dream of a nice house with pool and have very little mortgage (if any) to having the same house with a large mortgage is slighly worrying. We would be no better off financially to what we are in the UK and that was one of the main factors in our new life.

     

     

    `You just cut your cloth accordingly`

     

    If you try to spend what you havent got, then yes you will struggle! If you want a life of sunshine & beaches & it means you have to rent a little house with no pool, to get live in OZ then you can still find happiness, I agree we dont want to be worse off, but depends on what you think as better off to worse off!!!!

     

    Mayjess

    Share this post


    Link to post
    Share on other sites
    Guest covfan71
    Were building a pretty big house on a not bad sized piece of land, we could never afford it in the yUK....we could only dream of owning our own place, let alone building our own back in the wetlands...

     

    So something has to different over here????

     

     

    HG

     

    That's exactly the point i am trying to make. This time last year we could have bought a $400k house and been mortgage free. At todays market we will only have $280K. That dream you had when you moved to Oz, buy piece of land and nice house (and couldn't afford in the UK) wouldn't be here if you were emigrating now. Last year you would definitely get far more for your money - at that is the difference.

    Share this post


    Link to post
    Share on other sites
    Guest graandjac

    All points taken.......but there would be no point in coming to a country thats on its knees, where whole towns are empty and houses are being knocked down because no one can afford them........sounds drastic....but its happening in America:shocked:, so the next question is..........is it better to be living in a economically sound county not quite so well off or a country on its knees all doom and gloom but with a few extra dollors in your pocket....?????.:)

    Share this post


    Link to post
    Share on other sites
    Guest smit
    That's exactly the point i am trying to make. This time last year we could have bought a $400k house and been mortgage free. At todays market we will only have $280K. .
    I think having a 400k house with only a 120k mortgage isnt too bad a start in australia......................alternatively you can sit and wait for an upturn,just another decision to make.:)...................( i feel the exchange isnt going to change much for a good few months though.)

    Share this post


    Link to post
    Share on other sites

    Ok in an ideal world you'd move to Australia, have a huge house with a pool, work shorter hours, earn more money and have no mortgage! Who ever said this was an ideal world though?

     

    I'm not really sure where the idea that you should benefit financially from moving here comes from. You're moving to change your life in a lot of ways, but this isn't a cheap country and if you come here thinking you're going to get all the benefits of a developed country but have loads more money in your pocket, then it's the wrong reason!

     

    You still have to work, you still have to pay bills, you still have to do the washing and ironing, you have to pay for stuff like dentists and medication and school fees, you may still have to have a mortgage (after all, most aussies do, why shouldn't you?), and the streets aren't paved with gold. Come here expecting anything else and you're setting yourself up for a big disappointment!!

     

    Oh and on the bright side, buying books from the UK (http://www.thebookdepository.co.uk) is much cheaper with the stronger dollar!!

    Share this post


    Link to post
    Share on other sites
    Guest tooeasy

    on another point the 1st time home buyers grant has just been reduced and is going to be reduced again they have said this will cause the housing market to slow down and house prices to level out some areas even drop so those of you coming over will see the benefit in that :)

    Share this post


    Link to post
    Share on other sites
    Guest graandjac
    Ok in an ideal world you'd move to Australia, have a huge house with a pool, work shorter hours, earn more money and have no mortgage! Who ever said this was an ideal world though?

     

    I'm not really sure where the idea that you should benefit financially from moving here comes from. You're moving to change your life in a lot of ways, but this isn't a cheap country and if you come here thinking you're going to get all the benefits of a developed country but have loads more money in your pocket, then it's the wrong reason!

     

    You still have to work, you still have to pay bills, you still have to do the washing and ironing, you have to pay for stuff like dentists and medication and school fees, you may still have to have a mortgage (after all, most aussies do, why shouldn't you?), and the streets aren't paved with gold. Come here expecting anything else and you're setting yourself up for a big disappointment!!

     

    Oh and on the bright side, buying books from the UK (www.thebookdepository.co.uk) is much cheaper with the stronger dollar!!

     

     

    Well said Diane:notworthy:

    Share this post


    Link to post
    Share on other sites

    For goodness sake, why is it looking like this is turning into another 'I'm right and you are wrong' post??? Not even gonna add my viewpoint on the topic

    Share this post


    Link to post
    Share on other sites
    Guest guest569

    We have a bigger mortgage here than we had in the UK but we also have a much bigger house.

    here i have work coming out of my ears and yet when i speak to my mates in the Uk they tell me how they are struggling with lower working rates , lack of work and extra travelling to find these lower rates. They are struggling to pay their lower mortgages.:(

    So yes i am lucky with my big mortgage , 4 bed house , pool and stocked up beer fridge. BRING ON THE SUMMER !!!!!!!:biglaugh:

    Thank you Australia for my good life !!!!!!:notworthy:

    Share this post


    Link to post
    Share on other sites
    So yes i am lucky with my big mortgage , 4 bed house , pool and stocked up beer fridge. BRING ON THE SUMMER !!!!!!!:biglaugh:

    Thank you Australia for my good life !!!!!!:notworthy:

     

    27 degrees forecast for today!! Yippeee - crack open a tinnie! (17 again for tomorrow though :sad:)

    Share this post


    Link to post
    Share on other sites
    Guest graandjac
    For goodness sake, why is it looking like this is turning into another 'I'm right and you are wrong' post??? Not even gonna add my viewpoint on the topic

     

     

    And I was only trying to put a positive spin on a very negative subject.........oh well the sun is out the, beers are cold, the bbq will soon be on and the mortgage still need paying............:biglaugh:, but I dont care because we too LOVE IT...!!!!!!!!

    Share this post


    Link to post
    Share on other sites
    Ok in an ideal world you'd move to Australia, have a huge house with a pool, work shorter hours, earn more money and have no mortgage! Who ever said this was an ideal world though?

     

    I'm not really sure where the idea that you should benefit financially from moving here comes from. You're moving to change your life in a lot of ways, but this isn't a cheap country and if you come here thinking you're going to get all the benefits of a developed country but have loads more money in your pocket, then it's the wrong reason!

     

    You still have to work, you still have to pay bills, you still have to do the washing and ironing, you have to pay for stuff like dentists and medication and school fees, you may still have to have a mortgage (after all, most aussies do, why shouldn't you?), and the streets aren't paved with gold. Come here expecting anything else and you're setting yourself up for a big disappointment!!

     

    Oh and on the bright side, buying books from the UK (www.thebookdepository.co.uk) is much cheaper with the stronger dollar!!

     

    Excellent post Diane........

    Share this post


    Link to post
    Share on other sites
    That's exactly the point i am trying to make. This time last year we could have bought a $400k house and been mortgage free. At todays market we will only have $280K. That dream you had when you moved to Oz, buy piece of land and nice house (and couldn't afford in the UK) wouldn't be here if you were emigrating now. Last year you would definitely get far more for your money - at that is the difference.

     

     

    Jeez, only $280K, life must be tough for you guys.

    Share this post


    Link to post
    Share on other sites
    Guest katsmajic

    The difference being is we didnt bring alot with us at all - and have 4 kids to boot!

    we didnt have a house to sell so we bought money that we worked damn hard at saving.

     

    Australia is what you make it - but it isnt going to be easy no matter how much money you have.

     

    We arrived in April 08, when the rates were not massively better than now.

     

    its a wonderful place to be in to think/know you can be mortgage free/very small mortgage etc but for the vast majority of people that isnt the resaon for coming and certainly isnt the place they are in...

     

    That's exactly the point i am trying to make. This time last year we could have bought a $400k house and been mortgage free. At todays market we will only have $280K. That dream you had when you moved to Oz, buy piece of land and nice house (and couldn't afford in the UK) wouldn't be here if you were emigrating now. Last year you would definitely get far more for your money - at that is the difference.

    Share this post


    Link to post
    Share on other sites
    Guest smit
    We would be no better off financially to what we are in the UK and that was one of the main factors in our new life.
    I think a lot of people thought that, but in reality it doesnt quite work out that way,.Im sure there are some people financially better off , but they would be in the minority.

    im sure we'd all like to be mortgage free, but to only have a $120k mortgage isnt too much to worry about IMO:)...................

    Share this post


    Link to post
    Share on other sites
    I think a lot of people thought that, but in reality it doesnt quite work out that way,.Im sure there are some people financially better off , but they would be in the minority.

    im sure we'd all like to be mortgage free, but to only have a $120k mortgage isnt too much to worry about IMO:)...................

     

    Well if i could put a price on my lifestyle out here then i would say i am very well off and maybe millionaire....ok will have a mortgage for 20 years or so, but we will be on our way to owning our own house.

     

    But in my opinion to have the sun on my back and be nice and warm :)for what 6/7/8/ months of the years means more to me than coming over all cashed up and expect it all to be free.

     

    If life in yUk is sooo good in a mortage free house then why even look at moving in the first place.:huh:

     

    You dnt move to Oz to get rich

     

     

    HG

    Share this post


    Link to post
    Share on other sites
    Guest Obedoh
    For goodness sake, why is it looking like this is turning into another 'I'm right and you are wrong' post??? Not even gonna add my viewpoint on the topic

     

    Well said foxychick.

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now