Buying Your Next Home
Whether it's an upgrade because of an expanding family, a downgrade after the kids leave home or it's your next renovation project, buying your next home is a major change in your life. The search for the right property is a major milestone.
However there are some basic rules that can help you avoid many common and costly errors.
To avoid not only financial problems but a lot of stress, it is highly recommended that you sell your existing home before purchasing another. Here are some reasons why;
- it lets you know exactly how much you can spend on the new home without stretching the budget too far
- it helps you realise the full potential of your current home by allowing you to get it market ready for sale
- it doesn't force you into accepting offers and underselling your current home
- generally current home is Capital Gains Tax free so every pre tax dollar saved is a dollar earned. Be sure to consult your taxation advisor for advice on your particular situation