Upgrading your home is one of the most exciting moves you can make — but it can also be one of the most financially complex.
You’re not just buying a new property; you’re also juggling the sale of your current one, securing the right finance, and aligning settlement dates so the transition is smooth.
Whether you’re upsizing for more bedrooms, a bigger yard, or a complete lifestyle change, the key to a stress-free move is preparation.
Before you start house hunting, take time to review your overall position. This means understanding how much equity you have in your current home — the difference between its market value and your outstanding mortgage. You’ll also need to assess your borrowing capacity, which is what lenders are prepared to offer based on your income, expenses, and existing debts. Don’t forget to factor in additional costs such as stamp duty, legal fees, moving expenses, and any post-move renovations you’re considering.
Quick recap:
Talk to us for an upgrade assessment to give you a clear picture of your position before you make any commitments.
One of the biggest decisions you’ll make is whether to buy before you sell, or sell before you buy. Buying first allows you to secure your dream property without the risk of missing out, but you’ll need to be prepared for bridging finance or the possibility of servicing two mortgages for a short period. Selling first gives you a concrete budget for your next purchase, but it may mean moving into temporary accommodation while you search. Both approaches have pros and cons, and our brokers can help you determine which path best suits your goals and timeline.
There’s no one-size-fits-all answer — each option has pros and cons:
Our brokers help you weigh up the options and structure finance that works for your timeline.
Upgraders often have more choices than they realise. Bridging loans can help you buy before you sell, covering the gap between settlements. Loan portability allows you to transfer your current loan to the new property, which can be useful if your existing rate and features are competitive. Alternatively, a top-up loan or refinance can give you the extra funds you need for your upgrade or planned renovations.
So keep in mind when upgrading, you may need:
Upgrading is more than just getting a loan — it’s coordinating the sale, purchase, finance, and settlement dates so everything runs smoothly. At Henley Home Loans, we manage the moving parts for you, liaising with real estate agents, conveyancers, and lenders to keep the process on track. Our goal is to help you upgrade with confidence, clarity, and minimal stress.
A broker ensures everything aligns, helping you avoid costly mistakes and delays.
Your next home is waiting — let’s make the move happen. At Henley Home Loans, we specialise in helping homeowners upgrade with confidence, clarity, and the right finance in place.
Book your free Upgrade Strategy Call today and take the first step toward your dream home.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.
