Thinking about upgrading, downsizing, or investing? Buying your next property is different from your first—and preparation is key.
Using Your Equity
Your existing property may have built up equity that can be used toward your next purchase. This can reduce the need for a large cash deposit.
Understanding Your Borrowing Power
Your borrowing capacity depends on:
- Income and expenses
- Existing debt
- Interest rates
- Lending policies
Costs to Consider
Don’t forget:
- Stamp duty
- Legal fees
- Selling costs (if upgrading)
Timing Matters
It’s best to speak to your broker early—before making offers—so you understand your position and avoid surprises.