CMT

Hi, does anyone know how long you have to live in Australia before you can buy a house (with a mortgage). I take it you have to be PR's but is there a set time you have to live in the country before you can buy?
thanks

nanci

I'm no expert, but as a PR you can buy a house as soon as you arrive and are able to get a mortgage.

There are others, with more expertise than me, who maybe able to help you with other visa's

Nanci

CMT

Thanks, what about credit ratings etc. do you have to start from scratch again like you do here in the UK? Do you live in Sydney itself?
Claire

nanci

I'm afraid you do have to start again and that can be a bit of a shock, but once you have a job and regular income this seems to help. I think some banks are more helpful than others. We're with St George Bank, which may not be the most popular, but are known for being helpful when it comes to getting a mortgage.

Yes, we do live in Sydney, have been here nearly 10 months.

There are others with more expertise than me, but if I can help please feel free to ask.

Good luck,

Nanci

CMT

We are sort of in the process of sorting the visa, husband's been offered a position with Qantas which is based in Richmond - which i know is quite a while from Sydney and apparently v cold in Winter and v warm in Summer, but properties are cheaper!!! We earn a good wage here in the UK between us, far better than we would earn for a while in Oz as I have 2 young children (pre school age) and wouldn't have any childcare help out there - we are trying to make the decision - I know we won't know for sure until we go, but it's so hard. Do we stay here and financially be able to give them everything, or take the risk that they will have a better life and that we will get by in Oz - would the outdoor life, climate etc. be worth the money? So hard a decision, but will we regret it forever if we don't go. My husband will be on a lot less money out in Oz than here, and as I said I'd lose my salary for the time being. We would have about £24k in savings to help us along for the first few years, which obviously won't last forever, and will have about £100k equity when we sell our house (if!) and if/when we would be ready to buy there.
Any advice would be gratefully received!

nanci

I assume you have visited Australia previously, if not I would advise that first, although a bit of a challenge with two young children.

We have taken a cut in income to live here, but feel we have a better lifestyle, as our lives are a lot less hectic here.

The climate helps because you get out and about so much more. I'm afraid I don't know Richmond, must get my map book out, but if it is further out you do get a bigger difference in summer/winter temperatures.

Our children are older, so it is difficult to compare, the other factor you want to consider is how isolated you will feel if you have no family to support you here. My brother lives here and he and his family have been an enormous support to us.

These are just a few points to consider, at the end of the day only you can make the final decision. We love it here, but it has been hard work to achieve our dream, so please be prepared for that.

I hope this is not too negative for you, I just want to give a balanced view.

Nanci

andrew63

Arrived in October 2004 as temporary residents (3 yr working visa - 457). Mortgage arranged within 2 weeks. Bought a house and moved in before the end of November. Paid 20% deposit which helped but otherwise no worries. With National Australia Bank.

Andrew