Hi all, I’m hoping you all can give me some pro’s and cons when it comes to living & settling in Melbourne, over Brisbane. Been living in Brisbane for 7yrs now, very settled (no kids, engaged) partner (32) is a nurse in children’s cancer. Live <5km inner ring. I Have just been offered a role within my current company substantially moving me up the ladder into upper management. Dilemma is my partner loves her role, and are trying for a little one right now, so by moving she would loose maternity leave, leave her friends, her job etc. My dilemma is I have a chance to jump up to $160-$200k within a couple of years and be at a GM level and I believe I would be able to renovate/add better quality properties to the portfolio. Our lifestyle in Brisbane is very cruisey and laid back, close to everything, and affording a good living, I’m concerned we make the move and take a dive in lifestyle or higher expenses that completely negates the move. would love to hear thoughts from people that live in Melbourne and how your lifestyle is based on proximity? Any thoughts welcome! Thanks Codie
Congratulations on the promotion ☺. I cant comment on brizvegas vs Melbourne but will pass on a tip to choose the lifestyle and job that is the most family friendly. Priorities change once you have little ones and having a rewarding family friendly role gives you the best of both worlds. The next 18 years are going to be the best of your life and you want to have time to be able to enjoy every last second as is so much fun. Good luck with your choice ☺
Thank you @Closet, that’s some great advice to think about. I guess Money isn’t everything but it’s also hard to pass up these opportunities. Cheers
One of my best mates recently moved from Brissy to Melbourne to study. He was working full time in Brisbane so essentially cut back where needed, found some side gigs and is living on a budget. It can be done and he lives in fitzroy. He and his partner love it there. There is lots to do year round with fancy coffee shops, bars on every street corner, sport and cultural markets/events happening all the time. I think you're savvy enough to pull off the remote investing and renovations from a distance. It just comes down to setting up a team and systems where you aren't necessarily getting your hands dirty. Could be a blessing in disguise to work out how to do it on autopilot. Just have to way up the opportunity cost of moving. Is your current role niche and therefor you're unlikely to have similar opportunities in Brissy or working remotely? I'd find the weather difficult personally having spent 6 months in Milan. Like any new environment it is what you make of it though!
I would say - take that opportunity! it would be hard to go back to her job in 3-6 months after the baby unless you have a super supported family. She may be out from work force for a couple of years regardless. She could always take up casual jobs (plenty in nursing) or do a master degree to take up more educational role (less shift work) before the baby comes.
It’s a though one. We did something similar moving from Perth (with a support network) to Adelaide for a new role and big pay rise when my wife was pregnant with our first child. It was tough as I was working big hours to meet the expectations of the role and justify the salary and therefore wasn’t at home were I should really have been. When I was home I was stuffed from work and grumpy and ended up missing the first few years of my first child. It worked out as we ended up back in Perth after 4 years in Adelaide in a role with a similar salary but I am much more focused on the life side of the work / life balance now. The main pro from an investing point of view was that it allowed me to build a pretty good portfolio in a couple of years. Some of the downsides are mentioned above. Another thing to consider is that everything over $180K is taxed at nearly 50% so it’s not that great and then you get hit for another slug of cash called Div 293 once you reach a certain threshold. In summary I was offered an even larger role with another big pay rise to move to Sydney this year. I was tempted for the same reasons you mention above but our 2nd child is 2Yo now and when I weighed it all up I decided to politely decline. Good luck in your decision it sounds like a tough one.
I have lived in Brisbane and in Melbourne. Both cities have a lot of pluses but winter in Melbourne really sucks. The wife and I prefer warm/hot weather to cold/wet/freezing weather. Both of our children and our three grandchildren live in Melbourne. We miss them hugely but relocating to Melbourne is not something we would consider. Been there, done that.
I don't know but going about what you have said about your Partner and you will become a Father then it may not work out well that you both have to cut ties with the people closest to you both and move .. Plus with your location now ,it may be very different to live the same in Melbourne with travel rental living costs from what i read within this site.. The only question i would ask is what does your Partner want,and as you are about to go into one of the most priceless times as a Father your greatest strength is strategy starting with what the person you may well spend the rest of your life with wants..
Good on you @Codie an congrats on the promotion. I moved to Melbourne around 7 years ago from Sydney. It was meant to be a 6 months contract and now i've been at the same workplace and in Melbourne for 7 years with no plans of ever relocating back to Sydney. It's a beautiful city with lots to offer and somewhat more affordable and less congested than Sydney(for now...) Many dislike the weather but it's an individual thing so you need to work that out yourself. I personally love Winter so obviously don't mind the cold here but most family that visit from Sydney complain about March being cold in Melbourne. As for the new job, not sure how you going to manage to be a GM and do renovations and have a family. Being a GM is very demanding time wise as you would know so maybe that's something to keep in mind. Also, as mentioned above, you will be heavily taxed so might sound good on paper but in reality, the net outcome might not be so flash. Best of luck with it all.
Yeah, difficult decision. I haven't lived in Brisbane though I have family there and spent a bit of time there. Lived in Melbourne all my life. Work-wise Melbourne no doubt offers more and better paid opportunities on many fronts. It has plenty of cultural attractions and a great food and wine scene. And we are awash with awesome coffee. Plus the city has a pretty constant, happening buzz. Downsides are it is becoming super congested, way too many people with all the population growth. Every few weeks it seems to get noticeably worse on the roads and public transport. Living inner city you can feel very hemmed in, as the traffic moves at a crawl. PT is often not much better, especially trams which may go little more than walking pace. To head out of the city, go to the beach, explore etc can take time quite a bit of time because of the traffic. The people are less open and friendly than in Brisbane, so it may take time to rebuild social connections. It could be pretty isolating for a quite a while. Housing costs are higher - would be worth looking at a couple of potential suburbs to see what you get for your money compared with your current housing. And the weather. Upside is there is little humidity. The downside is... yeah, it's Melbourne. I don't mind the cold so much, but the unrelenting greyness of it at times can be pretty depressing. There are distinct seasons here and I quite like the changeability of it, though this year it has been frigging cold and felt like winter all the way up to summer. (Yes, you will have to get used to talking about the weather a lot down here....) It may come down to dollars over lifestyle, which is a pretty personal decision. A quick trip to scope things out here may help? My work is specialised and I am limited to working in the CBD, but if it were not for that I would personally be looking to get out of Melbourne mainly due to the population explosion.
Nearly forgot the most important bit - if you move to Melbourne you will need to get on board with real sport - AFL!
Hi skin man thanks for the real example, you make some good points. My work load would increase a lot to justify and do the role justice, grumpy would be my first name no doubt! Your point about being able to build the portfolio (which is ultimately the end goal) is what i need to weigh up. i feel it would be tough now, but bring the freedom forward by 5-10yrs potentially. We have 4 IPs now at 30 so won't struggle late in life but also don't want to be saying what if! Cheers Paul, would you mind if i ask what area of melb you settled in? being in hawthorne in brisbane is a very leafy affluent suburb with cafes all around, and it would be tough to have to end up way out west just for an increase in income, I will have to do some research and see where i could have the lifestyle with a budget of <$700k. Good points on the time restrictions/renovations as well. I think you have nailed it, its Dollars over Lifestyle. and i think it may take some time down there to figure that out. Another thing is the cold, i moved from the south island new zealand and actually half moved to get away from the grey/cold. It certainly has an effect on the mental state! i know that melb wind cuts you in half! Sorry can't do AFL, if i wanted to watch people run away from each other for kms il start watching marathons haha
@Codie , when i first came here i was at Brunswick East which i really enjoyed. Lots of cafes and pubs and trams are pretty handy on the Sydney road line too. I bought my current PPOR a little bit further north at Hadfield just off Pascoe Vale which is another cool little suburb.
I think the whole thing is summed up in these couple of lines...I’d be asking myself: 1. What am I doing it all for....the job, the income, the IPs...I assuming the answer is family and financial security...I’ve seen a few people lose sight of the end game in the chase and the whole thing turns to ****. 2. The “what if” works both ways...say you stay were you are and add another couple of IPs in the future and have a long happy harmonious family life...you might say what if we could have had 8 or 9 IPs....however if you make the move end up with 12IPs or a large $$$ portfolio but your family life isn’t so enjoyable or worst case doesn’t last...you might say “what if”....I’d stuck with my 4IPs and still had my family. I know this probably sounds super negative but I’m just taking from personal experience. As mentioned above my family and I just about stuck through the first interstate move hence my decision to politely decline 2nd time around. Id also say that if your company see you as a potential GM you will be on high potential list and they will continue to look for other opportunities for you to demonstrate your potential that are a win win for you and them such as a bigger role in Brisbane....after all it will be a bad move for the company as well if you take the new role in Melbourne and it doesn’t work out.
@The Y-man head office is in sunshine north, McIntyre road. Not a fantastic area I’ve heard but the site covers a couple of blocks
Yes I’m a big fan of Brunswick. And Pascoe vale. I’ve spent any time I’ve been in Melbourne staying in Essendon mainly, fav place to eat has been Chiba in moonee ponds or Hellenic Republic.
No not negative at all @Skinman i appreciate all the thoughts, that’s what I’m here for. In the end family & my dogs, quality of life & freedom is the goal and if I all ready have that, why change it. In saying that I’ve never sat still and am a strong believer in striving and achieving potential if it’s there. After a good chat with management today, they have relived some worries, offering to pay rent, expenses, costs, even flights back to Brisbane each weekend if I wanted, so we wouldn’t have to drop everything over night and could work it through. I was told it would put me in #2 spot for ANZ/South Asia eventually, and at that level. Anywhere in world starts to become an option.. Thank you for all the advice. I’ve got some work to do!
I’ve got an IP in Laverton if you decide to rent closer to work and want something that won’t impact your serviceability for the next loan as much Brunswick East!!!
