When I moved to Australia, I had budgeted for the visa. What I had not budgeted for was everything else. Here are the costs that catch most new migrants off guard.
Before you arrive
Flights and shipping
One-way flights from most countries cost $800-$2,000 per person. Shipping personal belongings by sea costs $2,000-$5,000 for a small shipment. Most people underestimate this.
Leaving costs
Breaking a lease, selling a car, closing accounts, farewell events - these small costs add up to $1,000-$3,000 that nobody budgets for.
First month in Australia
Rental bond and advance rent
Australian rentals typically require 4 weeks bond + 2 weeks rent in advance. In Sydney, that is $3,000-$5,000 for a basic apartment. Melbourne is slightly cheaper at $2,500-$4,000.
Setting up a home
Furniture, kitchen basics, bedding, and household items: $2,000-$5,000 minimum if you are starting from scratch. Many new migrants buy secondhand through Facebook Marketplace or Gumtree.
Transport
A car is practically essential outside inner-city Sydney and Melbourne. Budget $5,000-$15,000 for a reliable used car, plus insurance ($1,000-$2,000/year) and registration ($300-$800/year).
Ongoing costs people miss
Health insurance
Medicare does not cover everything. Most migrants also get private health insurance: $100-$300/month per person. Dental, optical, and some specialists require private cover.
Childcare
If you have children, childcare costs in Australia are among the highest in the world: $100-$180 per day per child. Government subsidies help but do not cover everything.
Professional registration
Many occupations require Australian registration before you can work. This can cost $500-$2,000 and take weeks to process.
The bottom line
Budget at least $15,000-$25,000 beyond your visa costs for the first 3 months in Australia. Having a financial buffer reduces stress enormously during the settlement period.
Check the visa cost breakdown for the application costs, and use the points calculator to check your eligibility.
