How do you actually go from one house to the next?
This topic can be massively variable, and it depends on how much equity you have in your current home, as well as your income and budget. But the first thing you need to do is really think about what you are trying to achieve. Where do you want to live and what do you want to spend?
1. Determine your budget
2. Assess your current home – How much equity can you put towards your new purchase?
3. Identify your needs – What are you looking for in your new home?
4. Research the market – What areas are you looking into? Do the larger homes in this area fit within your budget and needs?
5. Speak to your Mortgage Broker – and get pre-approved
6. Find a home
7. Sell your current home – Or discuss bridging finance with your broker
8. Settle the property and move in!