What is the cost of moving to Australia?

The cost of immigrating to Australia is not a thing to be taken lightly!!!

Not only are there the visa costs, but there are other costs such as medicals, shipping costs, costs in moving your money assets over (including pensions), flight costs, and more!

You will most probably be selling your house which means estate agent costs at the least. The benefit of cheaper housing in Australia is dwindling fast as Australia succumbs to the global pressures of the financial crisis.

You will find the cost of living in Australia comparable to that of the UK with some things cheaper whilst other things will be more expensive.

Here are some pointers to help you work out the costs involved.

Visa Costs
The costs of a visa vary widely and are dependent on what type of visa you apply for. Speak to a migration agent or consult the Department of Home Affairs for more information.

Other Visa Costs
Other visa costs such as medicals and police reports can be around £250 per person.

Shipping
Shipping your personal belongings can cost anywhere from £1,000 (approximately a pallet load) to £5,000 (a 40-foot container), but don’t forget to add on insurance as well which can easily mean another 10% on top.

You also need to keep in mind the cost of quarantining your pets if you intend to take them to Australia with you. Be prepared also for any quarantine costs that might be charged for immigration border protection officers handling any items that they deem either hazardous or unwanted.

Selling Your House
This obviously depends on the value of your house, but basically you need to account for the solicitor and real estate agents fees. Don’t forget any long term contracts that you might need to either buy out of or keep going, such as the Internet or Phone plans.

Pension
Depending on where you move your pension too and when you move your pension, there may be costs involved.

Flight Ticket
With the prices going up as much as they are recent, it is currently costing around £1,000 per person for a return ticket to Australia. Don’t expect to pay half that for a one-way ticket, but do expect around the £600-£700 mark at least

Moving your money over to Australia
When calculating how many Australian Dollars your Pounds Sterling will give you, contact someone like HiFX to get an idea of the exchange rate you will get as it will differ from what the dollar is currently trading at.

Renting a House in Australia
There’s plenty of properties to rent in Australia, given that most people wanting to sell can’t due to the volatility of the property market, but that doesn’t mean you’ll get a cheap deal. Depending on how close you want to live to the CBD and your aesthetic expectations, be prepared to pay easily $500+ for a half-decent place per week!

Buying a House in Australia
Just like in the UK, buying a house is a costly business. There are the usual solicitor and real estate agent fees, but you must get building and pest inspections carried out as part of the contract which add to the cost. You can get a good solicitor for around the $600 mark and the inspections should really cost no more than $150 a piece.

When you go and apply for your mortgage, make sure the bank clearly indicates to you what charges will be made to you at the point of sale or you may end up with less than you need to buy the house. You are also required by law to ensure the property once you enter the contract, however, most insurance companies cover the house for free if you continue the insurance for the first year.

Getting mobile
You can drive on your English driving license for 3 months, after which, you will need to get an Australian driving license which can cost as little as $28 for a 1 year license, but the best option is to get a 5-year license for only $70 or so. This does depend on the state that you are getting the license for, so please use it only as an indication.

Costs associated with buying a car will vary state to state given the different legislations, but it is always important to account Rego and insurance. Rego will be approximately $600 per year and insurance can easily be $600+ although insurance isn’t necessarily required in some states (Queensland for example).

Medical Cover
The health system in Australia is not free, so be aware that if you require medical assistance early on in you stay in Australia it will cost you.

Other Costs
Don’t forget the usual hidden costs of moving such as phone and internet installation, mobile phones, internet access, Foxtel (Sky) installation, etc.

Source: Emigration to Oz

IMPORTANT: This information is accurate only at the time of publication.