Enough money for Hong kong??

[isinina]

Hi, we are a copule + newborn baby who are moving to Hong Kong in three months.
The company has offered me HK $597,067 and no housing or health insurance.
Would it be enought for making a life there?
My company is located in New Territories, I guess by the University (am I wrong?)
Could you help us leting us know if the money we are going to make would be enough for living in a two bedroom apartment and.. how much do you think we could save after all expenses?
We'd love to be able to travel around.

Where is the best area to live with a baby and also having the office at the New territories??

Thanks so much!!

[boogerpuff]

i'm amazed that this page has been viewed 267 times and no has one replied...

anyway, HK $597,067 is around USD $77,000...which alone might be tight for Hong Kong... Does your spouse work? esp if you still have to pay for housing - which in HK is the biggest expense, renting or owning. A 2 bdrm... well b/c of the econ now... You can probably get a 2bdrm in the New Territories around HKD $10,000/month rent. Mind you, the 2bdrms in HK are TINY - ie maybe 700 sq ft - I'm from NYC, and that is small for a 2bdrm even by NYC standards.

Food, if you know where to look, can be very cheap and good too, both restaurant and groceries.

The New Territories is definitely a bit out there but it really depends on where you are from, and what you are used to. For instance, ppl who work in NYC travel 1-2 hrs to get to work from CT, LI, etc. Compare that to HK locals who flip out at any subway ride longer than 15 min. The New Territories will be quieter to work and live, much much cheaper as well.

If you are a resident of HK, I believe it is universal coverage. I am assuming you are not? Do not quote me on this, but out of pocket pay for doctors in HK can be pricey (given how loaded my classmates are whose parents are docs in HK).

[Dave O'Dottu]

Originally Posted by isinina

Hi, we are a copule + newborn baby who are moving to Hong Kong in three months.
The company has offered me HK $597,067 and no housing or health insurance.
Would it be enought for making a life there?
My company is located in New Territories, I guess by the University (am I wrong?)
Could you help us leting us know if the money we are going to make would be enough for living in a two bedroom apartment and.. how much do you think we could save after all expenses?
We'd love to be able to travel around.

Where is the best area to live with a baby and also having the office at the New territories??

this post has probably gone unanswered because there has been a very similar thread going for about a month, although your situation with the baby is more expensive and more complicated than mine.

A rule of thumb about costs in a new place is to figure out all expenses then double that figure. In my lifestyle, if I had to, and using that formula, I would need at least 109 k HKD a year just to eat.

Adding to this a rough figure for rent for me of 150 HKD a day, the total rises to 164,000.

This does not include transportation or clothing. check the other thread for clothing.

for transport check the cost of the getting the "Octopus Card." The average ticket for me when I am in HK is between 5 and 10 HKD. I would take about one ride on a bus or MTR every other day averaging to 1900 a year.

This brings the non-clothing total to 165,900 a year. (this does not include fun)

That is a budget lifestyle in Kowloon.

I would not recommend living in Kowloon with a baby because Kowloon is extremely crowded and dirty. It might be frustrating pushing a baby carriage around in that environment. Much of Central is the same. If you have a good apartment away from the hubbub of the street, however, you might manage it.

My guess is that you have an adequate amount of money to live comfortably anywhere in HK.