If you’ve outgrown your current home, whether it’s a new family member, lifestyle upgrade, or move to a better area – upgrading doesn’t have to feel overwhelming. With the right plan and the right broker, you can make the move confidently and avoid common pitfalls like double repayments or tight settlement windows.
Upgrader Home Loan Checklist: Smoothly Transition into Your Next Property
Step 1: Know Where You Stand Financially
Before you start browsing listings, take stock of your finances.
Ask yourself:
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How much equity do I have in my current home?
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What’s my borrowing power for the next property?
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Can I comfortably manage repayments if I buy before selling?
A broker can help estimate your usable equity and show how much you can borrow based on income, assets, and liabilities.
Step 2: Decide Whether to Buy or Sell First
There’s no one-size-fits-all answer.
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Buying first: Ideal if you’ve found your dream home, but may require a bridging loan to cover the gap until your current home sells.
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Selling first: Provides certainty around your budget but may mean temporary renting or storage costs.
Henley’s brokers can model both scenarios to help you decide which fits your timing and comfort level.
Step 3: Plan for Upfront and Ongoing Costs
Upgrading means more than just the new purchase price.
Remember to budget for:
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Stamp duty and conveyancing
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Agent and advertising fees (for your sale)
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Removalists and utilities setup
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Loan establishment and discharge fees
Being realistic about costs early prevents stress later.
Step 4: Review Your Loan Options
You may not need to start from scratch.
Depending on your lender and goals, you could:
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Port your existing loan to the new property
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Top-up your current loan using available equity
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Refinance for a new loan with better features or rates
Each option has pros and cons — we’ll help you find what works best for your lifestyle and stage of life.
Step 5: Time Your Move
Coordinating two settlements can be tricky, but with the right support, it’s manageable.
Your broker can work alongside your conveyancer and lender to:
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Align settlement dates
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Manage the transfer of funds
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Ensure your old and new loans transition seamlessly
Step 6: Settle In With Confidence
Once the paperwork is done, you can focus on what matters most — making your new space feel like home.
Henley Home Loans stays with you beyond settlement, reviewing your loan regularly to make sure it continues to fit your goals as life changes.
Final Thoughts
Upgrading your home should feel exciting, not exhausting.
A clear checklist, a well-structured loan, and a trusted broker can turn what feels complex into a smooth next chapter.
Why Choose Henley Home Loans?
✔ Local Adelaide mortgage broker based in Henley Beach
✔ Access to 40+ banks and lenders
✔ Tailored support for first home buyers, refinancers, and investors
✔ Stress-free guidance from pre-approval to settlement
Ready to make your next move?
Upgrading your home doesn’t have to be stressful. Whether you’re buying before you sell, exploring bridging finance, or simply ready for a change, the first step is understanding your numbers.
📞 Call us today on (08) 8235 2838
📩 Or fill in our simple online form to get started.
🏠 Let’s plan your smooth transition
At Henley Home Loans, we’ll help you map out your next move: from assessing your equity and borrowing power to comparing loan options that fit your goals. Our team will coordinate the process so you can focus on finding your new home, not juggling the paperwork.
Book your free Consultation Strategy Call today and take the first step towards buying your next home with clarity and peace of mind.
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.