Like Tree2Likes

Is this a reasonable budget?

Closed Thread
Page 1 of 2 1 2 LastLast
  1. #1

    Join Date
    Jul 2011
    Posts
    16

    Is this a reasonable budget?

    Since I am not entirely sure how much things cost in HK, would appreciate feedback on the following estimates. btw, we are not in HK yet, will move from US soon.

    monthly budget for a family of 3 (with a 6 month old baby):

    Rent 35,000 - would like to have a 3 bedroom, ~1000 sq ft, convenient to work in quarry bay
    Child Care 5,000 - prefer a full time commuting nanny (vs. live in)
    Groceries 2,000 - will probably shop 50/50 for western and local foods
    Dining Out 3,000 - mostly weekday lunches at work, limited dinner/drink as 1) husband gets plenty of those as part of work 2) it will be difficult to go out with a baby
    Cable/Internet/Phone 300
    Gas/Electric 400
    Maid/Dry Cleaning 800
    Bus/MTR/Taxi fare 800
    Fitness Club 500
    Health/Medical 0 - assume insurance covers

    Are these reasonable estimates? Any suggestions for cutting down the costs (without taking measures such as eating free veggie meals at a temple. ?


  2. #2

    Join Date
    Oct 2003
    Posts
    173

    Just my few thoughts:
    - Rent: definitely possible, you can look up 房屋,地產,置業,物業,地產代理,樓盤, 盤,出租,樓市-GoHome.com.hk to get some ideas
    - Child care: if you wish to have a full time live-in nanny, you might consider hiring a domestic helper to take care of the child plus the housework and laundry etc.
    - Groceries: seems a bit tight
    - Dining Out: seems a bit tight
    - Cable/Internet/Phone: could work for internet + phone, if you want to have cable tv too then definitely tight
    - Gas/Electricity: definitely way more than that. The electricity bill I have is around HKD 1,200 per month during summer, which includes the air-conditioner, water heater for shower and washing machine etc. for 2 people
    - Maid/dry cleaning: if maid is included under child care, just for dry cleaning this could work
    - Bus/MTR/Taxi: seems a bit tight, though it does depend on how often and how far you usually travel
    - Fitness club: if you're going for more high-end ones I think it'll be around HKD 1,000, though some residental buildings have their own gyms, smaller in scale but got equipments you can work on. Or you can go for more local gyms, monthly fee is lower

    With some budget freed up from the rent, you could have more budget for the rest. Good luck!

    ShiNan likes this.

  3. #3

    Join Date
    Jul 2011
    Posts
    16

    Thank you for the detailed feedback. Sounds like I need to modify my budget quite a bit.

    If I hire a domestic helper, do I need an extra bedroom for her?


  4. #4

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,763
    Quote Originally Posted by ShiNan:
    Thank you for the detailed feedback. Sounds like I need to modify my budget quite a bit.

    If I hire a domestic helper, do I need an extra bedroom for her?
    No, as long as she does not share with an adult of the opposite sex.

  5. #5

    Join Date
    Feb 2010
    Posts
    7,441
    Quote Originally Posted by ShiNan:
    Thank you for the detailed feedback. Sounds like I need to modify my budget quite a bit.

    If I hire a domestic helper, do I need an extra bedroom for her?
    Not always. Many helpers sleep on the couch. Others sleep in the laundry or storage rooms. Yes it sounds bad but it's quite acceptable in many locations. You have to be comfortable with it.

  6. #6

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,763
    Quote Originally Posted by virago:
    Not always. Many helpers sleep on the couch. Others sleep in the laundry or storage rooms. Yes it sounds bad but it's quite acceptable in many locations. You have to be comfortable with it.
    If they are looking for a 3 bedroom place for them plus baby can't see it coming to this.

  7. #7

    Join Date
    Jul 2011
    Posts
    16

    We wanted a 3 bedroom because we expect family/guests throughout the year. Now I just learned that I have way under estimated everything else in my budget, we will have to reduce our housing budget and consider a 2 bedroom place. So it's good to know that we don't necessarily need a bedroom for the helper (although not preferred).

    Do most places have laundry room and storage room? And they are big enough for the helper to sleep?


  8. #8

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    More common, in smaller apartments, is that the helper would sleep in the same bedroom as the baby.


  9. #9

    Join Date
    May 2010
    Posts
    4,713

    here are my thoughts

    Rent 35,000 - tai koo shing 1000 sq ft
    Child Care 10-12,000 - prefer a full time commuting nanny
    Groceries 5,000 - will probably shop 50/50 for western and local foods
    Cable/Internet/Phone 800
    Gas/Electric 1500-2000
    Fitness Club 1000

    ShiNan likes this.

  10. #10

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624

    Flat: U can find way cheaper for a 3 bedrooms in a nice condo not too far off Quarry Bay, I think 25/30 K is achievable

    Helper: your baby is still very little so it is not inconcievable to have both the helper and the baby share a room but as I said 35K can be reduced to 30K imho.


Closed Thread
Page 1 of 2 1 2 LastLast