How Much Money Do You Need to Move to Sydney?
Not only do you need to budget for the cost of shipping your household to Australia but you also need to think about how much money you need saved for the first few months after you arrive especially if you do not have a job waiting for you in Sydney.
You’ll need to budget for the bond (or deposit) for your apartment plus first month’s rent, yearly tuition for public schools if you are moving on a 457 visa and other school fees like uniforms and books, any other cost such as mobile phone, internet and setting up house in Sydney.
The amount of savings needed to settle into life in Sydney will obviously be different for everyone depending on your rent and if you will be paying for tuition of public schools. There are, however, a few things that apply to almost everyone moving to Sydney.
Rents in Sydney are advertised per week but a one bedroom apartment that is $650 a week is not $2600 a month ($650 x 4 weeks). Since there are 52 weeks a year a $650 per week apartment is actually $2816.67 a month. How did I get that number? 52 weeks x $650 = 1 year’s rent ($33,800). Now divide $33,800 by 12 months and you’ll get $2816.67.
Therefore, if the bond on your apartment is equal to one month’s rent you will need $5633.34 just to move in.
Appliances for your new home
You will probably need to buy your own refrigerator, washing machine and dryer.
Rentals in Sydney do not come with all the appliances. Be sure to ask the rental agents when you are looking at apartments if the fridge, washing machine/dryer are included. Appliances Online is a good place to go to purchase appliances that will be delivered to you for free the next day since they are located in Sydney. Just be sure you are there to receive your delivery.
Furnishing your apartment or house doesn’t have to be expensive. If you are shipping your household you will need enough to get by until it arrives.
We made a few trips to the Supa Centa at Moore Park after we moved into our apartment.
For delivery, I highly recommend using AirTasker. AirTasker does so many pickups and deliveries for Gumtree, Ikea and other furniture shops that they now have a Delivery and Removals section on their website. It’s also usually ends up being less than what a store charges for delivery. Highly recommend checking it out.
It costs less than it does in the States but still include it in your monthly budget.
As a 457 visa holder, you are required to have private health insurance.
For those with a Permanent Residence Visas, you can claim medicare in Australia.
There are ten countries that have a Reciprocal Health Care Agreement with Australia: Finland, Italy, Malta, New Zealand, Norway, Republic of Ireland, Sweden, Belgium, The Netherlands and United Kingdom. If you are from one of these countries and have a 457 Visa you may apply for medicare ONCE you arrive in Australia. You will still need proof of health insurance for your visa.
Once you have medicare you can cancel your health insurance but I would recommend keeping some sort of private health insurance as a supplement to medicare.
I wouldn’t recommend buying a car until you’ve been in Sydney for a few months. Public transportation is good in Sydney and cars are more of a hassle than they are worth.
If you find an apartment with a parking space then consider yourself lucky.
If you don’t have a car for your parking space, rent it out. People are more than willing to rent a parking space in Sydney.