Downsizing

We’re separating. What will happen to our family home and... We've split. What happens to our property?
Read more

Should we sell before we buy?

It’s always a good idea to find a buyer for your current home before committing to purchase another.
  • With your current property sold, you’ll know exactly how much money you’ll have available to spend on your next property.  If you are downsizing, you can then work out how much you'd like to spend on your new home, and how much cash the downsizing will free up to support your lifestyle.
     
  • If you buy a new property first, you may find yourself in the position of having to make mortgage repayments on two houses at the same time.  If your first home doesn’t sell quickly, or for the price you expected, you might put yourself under unnecessary financial strain.
     
If you have the financial means, consider keeping your first property as a rental and using the income to help finance your next home. Talk to a financial advisor or mortgage broker for any financial advice needed.
Back to questions