Like Tree63Likes

Transfer to HK - kids/schools/where to live???

Closed Thread
Page 5 of 9 FirstFirst ... 2 3 4 5 6 7 8 ... LastLast
  1. #41

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,625
    Quote Originally Posted by Char Siu King:
    I haven't read the whole thread but I wouldn't move OP. It's an incredibly challenging situation with children.

    If the company can guarantee places at a good quality international school (close by) and pay for a decent size apartment, then it's a different story.

    Every year I have friends and colleagues move back home because they can't afford school for their kids who are born in Hong Kong or they get fed up with the pollution etc .
    Agree I have seen that but in the cases I have seen (might not be same for you) is people who came here single/just married and got kids in HK after 2/3 years and then they find it very challenging because suddenly the $ they used to have and consider great for a couple was not that great for a family with school/helper etc etc. I think different if you already come as a family and have the right expectation (easier said than done).

  2. #42

    Join Date
    Dec 2010
    Location
    Wrong side of the door to hell
    Posts
    6,079

    There is one thing that the OP can take full advantage of in Hong Kong - an exchange rate at HKD 9.54 to the pound and sinking. Sending money back to the UK will make him a rich man by the time May has flushed the country away.


  3. #43

    Join Date
    Oct 2016
    Posts
    246

    So, I can provide further provisional details that answer some of the suggestions/questions etc:

    • Salary will be the basically the same as UK (NET), based on a 3yr averageexchange rate (i.e. mostly unaffected by Brexit), plus an annual bonus (essentially productivity/commission based)
    • Housing allowance of HK$30k pm, possibly slightly more to be negotiated (I am of course free to top up from my salary)
    • School/nursery fees paid for for both children (but not debentures)
    • Private healthcare/medical and insurance for whole family (standard in my company anyway)
    • No car allowance provided but possible provision for an extension of housing allowance to pay for parking (as they appreciate the need for a car with young children)
    • Return premium economy flights once per year back to UK for whole family
    • All moving/relocation costs paid for
    • Payment of mortgage / cover of rental shortfall for UK property


    As an illustration, our mortgage/nursery fees currently represent our biggest outgoing in the UK (~37.5% of combined take home pay excluding my bonuses), neither of which we would be paying if we take the move, albeit that we see a 25% drop in combined take home pay if my wife isn't working (at which point those outgoings become 50% of my take home pay alone).

    So in essence we would be seeing potentially a 37.5% increase in our disposable income prior to paying any bills etc. I struggle to see how food/utilities can be that much more expensive than the UK, but any advice in that regard would be greatly appreciated...

    I will have a look at some of the suggested areas for accommodation and it seems we may well be able to arrange a "trial" period of around a month so we can see how we acclimatise.

    Please keep any further advice/suggestions coming!

  4. #44

    Join Date
    Aug 2016
    Posts
    23

    Are they matching uk salary on a gross or net income basis?


  5. #45

    Join Date
    Aug 2016
    Posts
    23

    Sorry, ignore my question, just read it again. I think overall the deal is not bad. I'd recommend that you check out Gold Coast. Great for kids n the shuttle into central is like 15 HKD. The international schools here are better than your state or prep school in U.K. Check out Harrow International in Gold Coast. Great facilities.

    Can you rent rent your place out in U.K. And get the mortgage paid for by the company?

    shri likes this.

  6. #46

    Join Date
    Mar 2007
    Posts
    13,099
    Quote Originally Posted by Firemin:
    So in essence we would be seeing potentially a 37.5% increase in our disposable income prior to paying any bills etc. I struggle to see how food/utilities can be that much more expensive than the UK, but any advice in that regard would be greatly appreciated...
    Utilities wise : if you are not careful, you will end up spending large amounts on electricity for aircons. $5000-$10000 per month is not uncommon if you run aircons in multiple rooms.

    Food wise : if you are a picky eater (organic, grass fed, line caught and similar) you will be paying dearly for the privilege. If you want to eat the same as "back home" (nice cumberland sausages, brands familiar to you from home etc) you will again pay multiples over and above what you paid at home.
    However, if you decide to adapt and eat like what most locals eat, you can live fairly frugally.

  7. #47

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,625
    Quote Originally Posted by HowardCoombs:
    Utilities wise : if you are not careful, you will end up spending large amounts on electricity for aircons. $5000-$10000 per month is not uncommon if you run aircons in multiple rooms.
    .
    Never heard of 10K for someone with a 30K housing allowance (i.e. modest size flat).

    We have a full time helper (and baby at home) and the aircon is on most of the day in one room or another or several (900 sqft so somewhat what the OP will land albeit a bit smaller). We pay between 1 and 2K depending on month of the year. I would guess for a 1200 sqf about 3K max with a good usage of aircon. but yeah it can go up quickly altho 10k sounds really really high in my view.
    shri likes this.

  8. #48

    Join Date
    Oct 2016
    Posts
    246
    Original Post Deleted
    Good point, hadn't considered pension. I currently salary sacrifice in the UK so wouldn't be able to keep that up after the relocation...

  9. #49

    Join Date
    Mar 2007
    Posts
    13,099
    Quote Originally Posted by Mat:
    Never heard of 10K for someone with a 30K housing allowance (i.e. modest size flat).
    He wants to live in a village house. Think many rooms and if one is not careful, too many running aircons. Also, you probably know that HK flats and houses are not well insulated. It can add up very quickly.

  10. #50

    Join Date
    Dec 2010
    Location
    Wrong side of the door to hell
    Posts
    6,079

    I spend 2.2k a month at the height of summer without cover on the roof, running air con 24/7. Even the dog has his own air con at night. I really can't see it costing 10k even for a whole block.


Closed Thread
Page 5 of 9 FirstFirst ... 2 3 4 5 6 7 8 ... LastLast