Have you run out of space in your apartment? Living in your first home? Had an addition to the family? Too many possessions?
Not an uncommon scenario and your options in an apartment are limited. You can reconfigure the space and this could help but adding a bedroom or extra living space is usually out of the question.
The costs involved with relocating can add up quickly, including commissions, stamp duty, removalist costs and connection/reconnection fees. All this expense and If you like your neighbourhood, you may not even want to go far at all! Some owners simply buy an apartment in the same building!
In the current climate, prices are rising and the longer you leave a decision to upgrade likely means you will pay more. Wait long enough and you could even price yourself out of the market altogether. In general, it is advantageous to upgrade in a rising market as you are making a larger investment.
You may want to consider keeping your current property as an investment although you need to seek advice as the implications on your tax and the inability to move equity out of that property may make the ‘investment’ unviable. Get this sort of thing right from the beginning!
You may want to consider arranging finance for your new purchase otherwise you could find your dream home and miss out because you haven’t sold your current property. On the other hand, if you decide to sell first you might find yourself temporarily homeless because the right property is just not available to buy when you need it!
Many things to consider. If you would like assistance with any of this please let us now. You are not alone, we have had a lot of experience in the area of relocation.
EMAIL : [email protected]
PHONE : 0408 00 00 88
Posted By Shelley Fuller
Updated : 11th October 2021 | Words : 297 | Views : 2200