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  1. #1

    Join Date
    Jul 2010
    Posts
    4

    suggestions welcome

    Hi All,

    I will be moving to HK in mid August, with my spouse and kid (15 mths) for a short term assignment - 2 yrs. I have actively read different posts on this forum and pretty much understand many things about HK. 1. Housing is very expensive.
    2. people with 20 HKD pm are sometimes more happier than those with 50 HKD. It basically upto what lifestyle one wants to follow.

    I am offered a package of 600 K HKD pa., I am fully aware that this will help me and my dependants lead a normal life (albeit not lavish )
    I need some suggestions from you guys to help me decide.

    1. Will I be able to get a fully furnished apt in NT for around 12K pm, more on Tseung Kwan O side. ( office is in Central) I am ok with the commute. Looking for around 700 sq ft , 2 Bed apt.

    2. I have a huge mortgage at present at my home base. I need to save around 10 HKD to sustain that. (Please advise on the expenditure heads considered below). I may have over/ under estimated certain expenses but just looking for a ball park figure.

    Realistically speaking, will I be able to save a decent amount from my salary on a monthly basis. I dont want to live counting every penny but I am not a spend thrift too.

    In all I expect and plan to budget the following.
    1. Housing = 12 K
    2. Food = 7.5 K
    3. Utilities = 1.5 K
    4. Travel = 3 K
    5. Tax at end 3 K
    6. Any other 5 K

    So total monthly exp = 32 K + 10 K (home mortgage) = 42K, still leaves me around 8K for splurge :-) ...

    Let me know if my budgets are too optimistic ?

    Thank you all for taking your time to read my post..

    Golum


  2. #2

    Join Date
    Sep 2007
    Location
    Sai Kung
    Posts
    5,854
    Quote Originally Posted by Golum:
    Hi All,

    I will be moving to HK in mid August, with my spouse and kid (15 mths) for a short term assignment - 2 yrs. I have actively read different posts on this forum and pretty much understand many things about HK. 1. Housing is very expensive.
    2. people with 20 HKD pm are sometimes more happier than those with 50 HKD. It basically upto what lifestyle one wants to follow.

    I am offered a package of 600 K HKD pa., I am fully aware that this will help me and my dependants lead a normal life (albeit not lavish )
    I need some suggestions from you guys to help me decide.

    1. Will I be able to get a fully furnished apt in NT for around 12K pm, more on Tseung Kwan O side. ( office is in Central) I am ok with the commute. Looking for around 700 sq ft , 2 Bed apt.

    2. I have a huge mortgage at present at my home base. I need to save around 10 HKD to sustain that. (Please advise on the expenditure heads considered below). I may have over/ under estimated certain expenses but just looking for a ball park figure.

    Realistically speaking, will I be able to save a decent amount from my salary on a monthly basis. I dont want to live counting every penny but I am not a spend thrift too.

    In all I expect and plan to budget the following.
    1. Housing = 12 K
    2. Food = 7.5 K
    3. Utilities = 1.5 K
    4. Travel = 3 K
    5. Tax at end 3 K
    6. Any other 5 K

    So total monthly exp = 32 K + 10 K (home mortgage) = 42K, still leaves me around 8K for splurge :-) ...

    Let me know if my budgets are too optimistic ?

    Thank you all for taking your time to read my post..

    Golum
    I think you would be alright with this budget. Not sure of the furnished apartment in tsuen kwan o, but there must be some. Though, I am sure you can find a 2 bhk furnished apartment in tung chung for less than 12k. All the best..

  3. #3

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    $1K per month on MPF but you'll be able to get that back when you leave.

    Your average salaries tax will be about HK$2K because of the way your assignment will split over 3 tax years. (Calculator here)

    Otherwise it looks reasonable, although your electricity bill will vary dramatically between winter and summer. You will need to include perhaps $1K/month for internet, 2 mobiles, some IDD calls, etc.

    Golum and darkage like this.

  4. #4

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    2,176

    >>>>>> Will I be able to get a fully furnished apt in NT for around 12K pm, more on Tseung Kwan O side. ( office is in Central) I am ok with the commute. Looking for around 700 sq ft , 2 Bed apt.

    I was just talking to my colleague and she said can easily get a furnished apartment in TKO in that budget

    Golum likes this.

  5. #5

    Join Date
    Sep 2004
    Posts
    268

    after 6 months, your 15 months old baby [ actually 21 months] may join nursery/play group..budget minimum 3K per month.

    darkage likes this.

  6. #6

    Join Date
    Dec 2009
    Posts
    98

    Don't know where you come from, but just be aware that you may be charged income tax there as well, especially if you still have a home there ( Australian government now expect to tax you at their rate on your income whilst working overseas - though will very kindly deduct from your tax bill any tax you have already pai in HK!). Maybe a good idea to check with an accountant on tax situation.

    darkage likes this.

  7. #7

    Join Date
    Mar 2006
    Location
    Far far away!
    Posts
    135

    Think you'd be better off looking in Tung Chung for larger accommodation for your price range. (Places with a complex including pool / gym etc) Plus there's an MTR station right there to get you into the city.


  8. #8

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Yes - you'd get a quite big place in Tung Chung for that money, although maybe a few minutes walk/shuttle bus from the MTR.


  9. #9

    Join Date
    May 2005
    Location
    Sai Kung
    Posts
    4,151
    Quote Originally Posted by dizzydancer2005;:
    Plus there's an MTR station right there to get you into the city.
    Yeah, that's the one thing TKO is really missing...........
    Posted via Mobile Device

  10. #10

    Join Date
    Aug 2009
    Posts
    1,845

    Hello, I have lived in TKO all my time HK. You may need to budget for about 14k/mth just to be safe for a new3 b/r apt.
    Its a good location if for a family. Its only 30 min by train to Central which is convenient and 15 min bus ride to the relatove seaside tranquility of Sai Kung on weekends. Highly recommended.
    Posted via Mobile Device

    Golum likes this.

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