Job Discussion Forums

[jamo22]

I have a job I'm starting at the end of July, so I will be arriving just before then.

How much cash should I come with? Assuming I'm going to be keeping partying/living extravagantly down to a minimum, and will be living in a ten grand and under serviced apt. I was thinking U.S $5000?

Thanks

[sistercream]

Didn't I just see this query on the HK Geoexpat site? The one answer you already received there looks pretty much on the right track.

[jamo22]

hate to disagree with u, but I didn't think that was a very good answer!

How much did you come to Hong Kong with when u started? That's the kind of answer i'm looking for. Along with a breakdown of start-up costs if possible.

I would only want to stay in a serviced apt for the first month,then look for something else. Is 3.5 months upfront and unfurnished really the going rate? I seem to remember reading that this kind of thing was usually negotiable.

Thanks

[oxi]

Fairly cheap serviced rooms between 6-9k monthly, eg. "cozy studios" "rentaroom".

1 month deposit and 1 month advance usual when renting. Furnished or unfurnished common.

I reckon $5000US will be fine.
Eg. Pot noodle HK$10, McDonalds $25, beer $60. Restaurants starting $100.

Hope that's a good (if very short) answer!

[jamo22]

Thanks Oxi,

how exactly does the payment for apartments work? 1 month upfront, meaning you don't have to pay at the end of the 12th month, correct? Do you get the deposit back? thanks

[oxi]

[jamo22]

thanks alot oxi

[sistercream]

I see you're getting a range of answers on both sites, so I'll just confirm that the half-month's agency fee is standard when signing a lease; it might be negotiable if the rental market is slow, but just now it seems that the agents aren't nearly as desperate as the tenants Any negotiation is normally with the landlord, be it for a bit off the rent, or for the inclusion of management fees within the rent amount.
A 2 year residential lease is standard, but as Oxi noted there is normally a break clause after one year. My last HK landlord did NOT accept my using a month of the deposit payment for the final month's rent, but he DID give me back the full amount of the deposit, in cash immediately after final inspection on the last day of the lease (that's just to say that there is considerable variation in landlord's practices).

How much did I come with? I honestly can't remember - it was back in the 1980s - but not very much. My expenses were drastically reduced by my being able to stay with friends. At the beginning of my first stint in HK I moved into a convenient hostel a few days later (it was great for making local friends ). Stayed there for 6 months until I had put together the $$$ to set up on my own.
This last time, I think I had just about HKD5000 in my pocket (discovered my Aussie Visa debit card couldn't be used in any of the local bank ATMs - major bummer), stayed with friends for a couple of months until they got desperate enough to lend me the deposit for my own place but got that paid off in 3 months by eating a seriously boring diet and using the free wifi connection in the local library.
Now, if you want hints on how to live seriously cheaply in HK ...

[Serious_Fun]

2 months in serviced flat: at least 25,000
(you wrote that you "want to stay in a serviced apt for the first month,then look for something else")

*you will need a credit card to put the serviced flat on, plus the security deposit. So make sure that you have > HK$15,000 credit limit on that card.

income during those 2 months: unknown. I'll assume 40,000 (20k x 2) less than that is a rubbish job.

first/last/security deposit/real estate parasite fee on your new flat: at least 35,000.

living expenses for 2 months: 7,000

so: arrive with no less than 35,000 plus a credit card with a limit of at least 15,000. Less than that will be dodgy and leave you desperate for rubbish flats in a VERY expensive city. Rents have been rising at least 15% per year. You'd better be ready for the hard core - Hong Kong is not a place for backpacker TEFLers.