Home loans for next home buyers
Buying your next home and taking a step up on the property ladder.
You’ve been there, done that. So it’s natural to assume buying your next home will be easier the second time around. But this isn’t always the case as there are a few extra things you need to consider.
The first of these is deciding what to do with your current home. Typically, you have two options:
- Selling it – and using the proceeds to fund your next home
- Keeping it as an investment property – and using the equity you built up as a deposit towards your next home
There isn’t a right answer, as it depends on your individual circumstances. That’s why it makes sense to get expert advice from an experienced Finance Broker. They can help you crunch the numbers so you can figure out which is the right decision for you. Once you’ve reached a decision, your Finance Broker can help you get a home loan to fund your purchase.
We apply our extensive knowledge to find a solution that is right for you and guide you throughout the loan application process.
Should you buy or sell first?
Say you decide to sell your current home. This then leads to the age-old question: is it better to sell or buy first? Both options have their pros and cons. For example, if you:
- Buy first – you may have to organise finance (known as a bridging loan) to give you the money to buy a new home before you’ve sold your existing property
- Sell first – you may have to pay for rent and two sets of moving costs
Regardless of what you decide, our Finance Brokers can help you organise a home loan for your next property purchase. We’ll compare lenders and loans on your behalf, and then manage the loan application process for you.
Buying your next home and need a loan?
A Finance Broker with 20 years experience, Brendon Cowan’s clientele are mostly professional and/or small business owners seeking a relationship based approach to obtaining finance.
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