Cost of Living in Australia
OverviewMany prospective migrants want to know about the cost of living in Australia and whether they will have a better standard of living if they make the move.
This is not an easy question to answer and everyone's situation is different, so you need to be prepared to take some time and do plenty of research on the subject.
The key elements to this puzzle are:
Your Current Situation
- How much money do you have to bring to Australia?
- How many dollars will that buy at the current exchange rate?
- What size loan will you need?
This is all about the exchange rate, the relative cost of houses and your expectations in terms of location and size/quality of house.
Your Future Situation
- How much will you earn after tax?
- What will it cost to live day-to-day?
Going forward, unless you have an income from overseas (or expenses to pay), you can forget about the exchange rate - now it's all about what you can earn, versus what it's costing to live to a certain standard.
"Standard of Living" versus "Quality of Life"
Many migrants to Australia (especially from the UK) are looking for an easier life - less work and more leisure.
Without doubt, this is much harder to achieve now than it was a few years ago, mainly because the poor exchange rate has reduced their overall wealth and they have to get a bigger mortgage than they would like. Some recent migrants are finding it very hard to get by and are working longer hours in Australia just to pay the bills.
In general, though, most of us have some choices in the work/leisure balance. It should be noted that while some things are relatively expensive in Australia, there are a lot of leisure activities that are free or very cheap.
DisclaimerInformation on this website is intended to give the reader an overview of many aspects of life in Australia, such as healthcare, real estate, tax, superannuation etc.
While we at Aussiemove.com have performed a large amount of research on each subject area, we do not claim to be experts in those fields and we recommend that migrants discuss their requirements with companies specialising in those fields before making purchases, investments or other decisions concerning their move.
The content of this website is general in nature - no specific advice is intended.
We provide links to other companies as a service to our readers. We have taken reasonable care to ensure that each linked website does not contain offensive or inappropriate material. However, we are not responsible for the accuracy of any of the material in any linked website, or the advice that may be contained therein.