Preparing your finances for a new move

If you’re a homeowner who’s thinking of moving again, there are things you need to consider so you’re ready when you find that dream home...

As a homeowner, you already know that buying property isn’t just about for today, but for the years to come. As you move through life, your needs – and what you want from a home – change.

It’s not always possible for your home to change with you (unless you’re lucky enough to have a magical house that grows and shrinks on demand), which means sooner or later you’ll probably have to consider moving…

Upgrading to a bigger home

Moving into a bigger home is an exciting time, especially as it often means a growing family. If it’s time to move into a bigger and better way of living, Stockland communities are designed with families in mind – with a range of house types and located close to public transport, childcare, schools, shopping and entertainment. No wonder 124 families move into one of our communities every week!

In terms of financial preparation, you may not need to find a new home loan, but if you’re buying before you sell your current home, you may need to consider a bridging loan*.

A bridging loan* is a short-term loan designed to cover the purchase price of a second property to give you time to sell your existing property (even if you already have a mortgage). It essentially acts as a ‘bridge’ that allows homeowners to get from one to the other. 

Downsizing to a smaller home

Moving up in life doesn’t have to mean moving into a bigger house. People downsize for many reasons – an empty nest, too much upkeep, or just to simplify life. Stockland communities are a great option for downsizers, providing convenience, social connection, comfort, safety and a healthy lifestyle.

If you’ve built up sufficient equity in your current home, selling could potentially fund the entire purchase of your new property. If it’s been a while since you last had your home valued, now may be a good time to contact a trusted valuer to see what your home is worth and what you can afford to buy.

What do you want to do next?

Keep going with your Finance job to do

Move on to your next job to do

Choose the ideal type of home for your needs
Get your build and design foundations in place
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Get closer to your dream home today!

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