I discuss - Moving home, where do you start?

It’s likely that this has been on your mind for some time and now you’re getting motivated to take steps to make that move a reality.

Often it’s the case of needing more space for a growing family, maybe moving areas for a job move or to get your children into a particular school.

Whatever the reason, it should be a really exciting time, the thought of new beginnings and a fresh start. It can be daunting though and understanding what to do and in what order can help make things as smooth and stress-free as possible.

It’s likely that you won’t have moved for quite some time, so it’s possible that you can’t remember the process from last time, and even more likely that things have changed.

We spoke before, back in episode 1 about buying for the first time and where to start. In reality, things aren’t too different to then, only that you now have a home to sell too.

If you’re considering renting out your current home and buying a new residential home – don’t worry we’ll have an episode to discuss this (also known as a let-to-buy scenario), but for now, let’s assume you’re selling and buying.

It’s so important to break things down into smaller chunks – which I why I can’t emphasise enough that you should view selling your home and buying your next one as TWO SEPARATE TRANSACTIONS.

Yes, you’ll most probably need the proceeds of your sale for your deposit on your new home, but they really are two different things.

You’ll also need to do one before the other – selling your home is usually the hardest part and finding a new home (depending on what you’re looking for) a fair bit quicker and easier!

04:40-10:28

1.      Get help from a Whole-of-Market Mortgage Broker asap and put a plan in place from the very start.

• Review your income and outgoings to ascertain how much you can borrow for your new home
• Ascertain how much you’ll need upfront:                                 

i.    Buying and Selling costs

ii.   Deposit

• The above feeds into what type of properties you can start looking at and if it’s feasible to buy the type of property you want, in the area you want.                                                          
• This can be based on an approx. sale price – using Rightmove and an approximate sale price. Always better to be conservative with the numbers and to have funds leftover than having to find more!

10:28-13:57

2.      Speak with Estate Agents – at least 2 or 3  

• Get your home valued and start to get a feel for who you trust to work with to sell your home – Don’t just choose the one that says they can sell your house for the most – are they credible, would you buy a house from them, are they genuinely taking an interest in your home or does it just feel like another “sale”
• They’ll give you a fair idea of an achievable sale price for your home – which you can use for your plan (and update if necessary)
• They may give you tips on how to get your home as presentable as possible – a lick of paint, declutter, tidy up the garden etc etc

13:58-22:20

No Silly Questions...