Watch out

Watch Out When Migrating to Australia

 5th April 2020                           A personal account of, moving to Australia and nearly coming undone!

 

After meeting my Australian wife in 2010, I relocated to the Gold Coast, from my hometown of Johannesburg in 2017. As I was a foreigner,( despite my wife being an Australian citizen) and I was unable to obtain any finance upon arrival, this meant I needed to use my personal savings and my cash to pay 12 month’s rent upfront and purchase two cars - cash!

Because I had no Australian credit history, I couldn`t get a loan, to either purchase a house or get loans for cars. 

Over and above this I had to keep up with the cost of living in Australia. This was a huge set back as my personal savings were severely diminished.

I felt that this situation, meant my journey to start my life in Australia was completely on the back foot. I couldn`t purchase the cars I was hoping to, I couldn`t move into the home I was hoping to, and, I didn`t realise that spending all that money upfront on rent and cars would  make it so hard later on to save enough for a deposit on a house, especially with house prices increasing annually

 

Having migrated I was receiving many inquiries from fellow South Africans about the process and how it all works.  

To help them prevent the same mistakes. I decided to form a small business helping South Africans move over without going through the same financial pressures I had to overcome - particularly the hassle of not being able to get any finance in Australia, even though I had a good credit rating in South Africa. This experience taught me, that the way to make sure you could have finance and credit history once getting to Australia, was through investing in a property and organising a Mortgage in Australia Before the actual relocation.

My vocation in South Africa had been in Real estate and I have a passion for this. I became focused on helping South Africans, to be able to give them the opportunity to be able to get into the Australian Property Market and avoiding the snags that I had encountered. Assist them in learning how to organise Australian Funding here - BEFORE they relocated.  This comes with many complexities such as the issue of organising Finance (Property Bond) for non-residents that did not have PR (Permanent Residence) and who were still domiciled offshore.

Often we do not know what we don’t know, and I hope now to help many avoid making the mistakes that I did.

 

Damien Cornelli