[Twig]

Hi all,

After some advice from you good folks. My husband has been offered a job (Mechanical Design Engineer) for $87K plus $8K in bonus', in Wellington.

We are a family of five (- to be, baby due New Years Eve!), currently on £42K p/a in UK. We're hoping to have a mortgage no higher than $150K in NZ. Is this salary enough to attempt to same sort of living standard do you think? I'm alittle worried we will stretch ourselves too tight as I've heard cost of living is just as high (if not higher) than UK.

Many thanks for any advice!

Twig

[Lupin]

I'm not too sure about Wellington property prices- how much are you bringing over?

You're a little over doubling it so you should be okay, but perhaps moving to the city and being a larger family you might not 'feel' quite as well off as in the UK. Have you checked out the NZ IR site to calculate the child tax credit equivalent you'd get?

[CityBlue]

There really is no correct answer - basically do your reasearch and decide for yourselves.

many people (me included) have found that by doubling what you earn in punds into NZD usually means you will be alright. (ie you earn 40k GBP so $80k NZD should give you the same level). Not to say that budgeting isnt involved as it really is.

Sorry its not a better answer but it really is the only way. People can help you with current prices of things but unless you research and draw up a rough budget detailing how YOU spend your money you wont find an answer.

try searching this forum for other threads and there are cost of living calculators about to help but as I'm not that Techie I cant post the links etc.

I'm sure some lovely member will help you out there though.

Good luck

[Familyofmonkeys]

I'm not too sure about Wellington property prices- how much are you bringing over?

You're a little over doubling it so you should be okay, but perhaps moving to the city and being a larger family you might not 'feel' quite as well off as in the UK. Have you checked out the NZ IR site to calculate the child tax credit equivalent you'd get?

You don't get anything in NZ child tax credits (with 3 children) with that salary...it is just below threshold (about $95k) and with bonus, it is over threshold.

Personally, i think that is a very good salary compared to most average people in NZ, but in real terms you are not likely to feel as well off compared to salary of £42k in UK. But, the big factor her is what you bring over with you....it can make a massive difference.

[Big Puku]

It's not too bad a salary IMO, but will depend on how a big a house you want/how far you want to commute and most importantly how many of your lovely English pounds you bring over!

My mortgage is $150k and I think the minimum payment is ~$500 a fortnight.

Matt

[Twig]

We're hoping to bring over a minimum of £150K (currently doing a re-development on house - whilst living in it! - to make a few pennies) and hubby is prepared to commute upto about an hour.

[Big Puku]

IMO She'll be right! for $550k you'd find a decent house within 45-60 mins of Wellington; lots of choice in terms of location/size/style etc, so your $150k max mortgage is probably reasonable.