What is the first thing that comes to your mind when you think of migrating to some other country??

Yes, you guessed it right, the answer is the cost of living.

Cost of living in simple terms means how much money do I need to spent to cover my daily expenses like food, rent, travel and other miscellaneous cost. To start with let’s talk about the something you cannot live without, I mean the roof above your head.

Rent

Sydney is one of the costliest cities to live in and one room rent here ranges from a meager 120 dollar to a lavish 1000 per week. The cost basically depends on how far you are living from the Sydney city which is called the central business district or the CBD in short. Sydney CBD is the commercial hub of Sydney and most of the jobs lies here. To sum up average rental cost for one furnished room set in Sydney CBD will cost you around 400-550 per week and in suburbs this cost comes down to around 200 to 300 depending on the location. One important thing to note here is that these rent generally are exclusive of other rental cost like electricity, water, gas and internet. You have to keep in mind these factors while comparing rents.

FOOD

Now jump to the food cost. Three course food will cost you around 120 to 150 per week per person. Buying groceries like milk will cost you a dollar per ltr, bread 1 dollar per pack, chicken breast 11 per kg, a beer cost 5 dollar and a pack of cigarette will cost you 25 per pack. Eating out is also not cheap, a trip to a restaurant for a person costs around 15 to 20 dollars.

Traveling

Public transport in Sydney includes buses, trains and Ferries. The good thing is that all of them share a common travelling ticketing system which is managed by Opal. For travelling you need to buy and recharge an Opal card which can be tapped at any mode of public transport. Travelling cost starts with 2.1 dollar for first 3 kms in case of busses and go upto 8.3 dollar for a trip. You can avail concessional rate on travelling in off peak hours. Weekly travel cost is capped at 60 with a daily cap of dollar 15. Other options for travelling is to get an uber which will cost you around 3 dollar per km or you can own a car as the price of gas is 1.27 per ltr. Owning a car might sound cheap but it comes with other cost like Registration and insurance of 1500 a year, service cost of 500 and depreciation.

Conclusion

To conclude this video, a single individual has to shed anywhere around 500 to 600 per week to live in Sydney and this cost will go up drastically for a family. So thanks for watching this video, I hope you like this video. Please don’t forget to share and subscribe as in next videos we are going to tell you, detailed cost analysis for Sydney and tips with which you can save some hard earned money.