Where to Live: Time Trade-offs

Where to Live: Time Trade-offs


I thought it might be worthwhile to start a new Thread, to introduce these calculations - and discuss the assumptions.


( "I live in HKI right now because the price difference between HKI and NT is not large enough to justify the loss of convenience that moving to NT would entail. However if prices were to drop substantially in NT while remaining stable in HKI I would consider moving there. " )


Where to Live ?

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It depends how much your time is worth.


Suppose it takes you work in Central, and it takes THIS long to travel from :


+ Office Central to your Mid-levels home: assume Robinson Place (25 mins)

+ Tung Chung MTR to Caribbean Coast, alternative home (15 mins)

ADD ON:

+ Walk: Office to MTR (10 mins)

+ MTR Journey to Tung Chung (27 mins)

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= EXTRA TIME to Tung Chung : 27 Mins x 2-way journey = 54 mins (say 1 hour per day)


You lose about One Hour per day for the extra time to Tung Chung


HOW MUCH do you save?

Location : Price/ sf x 1,000 sf : x 3.5%: /Mo.s : Rent/mo :

Robin.Pl : 13,366 = $13.37 mn : $ 478k /12 : $39,000 :

Carib.Cs : $6,065 = $ 6.065 mn : $ 212k /12 : $17,700 :

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There are 21 working days in a Month.


To save 21 hour TRAVELING, you pay an extra : HK$ 21,300 or HK$ 1,014 per Hour


What is that extra "free" time worth to you.

Assume you have a 50 hour Work week, that's HK$ 50,000 per Week on Salary


x4 = HK$200,000 per Month


What is that extra "free" time worth to you.

Assume you have a 50 hour Work week, that's HK$ 200,000 per Month on Salary


If your salary is LESS than that, you should consider Tung Chung, and consider how your other activities outside work would be impacted

(Posted by dave_lister):


"Actually I live in Central but work in Shatin. I could live in the Shatin area but most of my friends, and after work and weekend activities are in Hong Kong Island so I would end up coming down here at least 4 times a week anyway. I don't regard time on the bus as wasted as I can sit down and do work, but I would rather be taking the bus on weekdays rather than weekends."

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I would say then that "Activities outside work" form a key part of your Locational preference.


You might consider whether other locations closer to Shatin (and Cheaper) might provide an acceptable Work-Life balance, ane be cheaper than HKIsland.

(Posted by Dolphan)

OTP,

I believe your monthly salary should be $1014x50hrsx4weeks.. If that is the case, the figure would rise to over HKD 200K salary per month.


Simply put, anyone who makes more that $1,014 per hour it is more economical for them to live in robinson place. Anyone making less than $1,014 per hour, Tung chung...


== ==

That is correct.


To put it another way:

At that level of HKD 200,000 per month -


Instead of working an extra hour, you can invest that hour in commuting, and you will get a SAVINGS equal to your income.