Options to consider when purchasing your next home

  1. List your property first

Try to list and sell your property prior to seriously looking at other homes. This can make you a cash buyer for your next property and puts you a much better buying position.

  1. Find out your options

Get in touch with Capital Concepts to find out about applying for finance for both your existing place and the new purchase. This is sometimes viable depending on your incomes and other commitments. It may allow you to make an offer and purchase the new property without having to rely on the sale of your own home first. If you can negotiate a deferred settlement on the new place, you may even have sold yours by the time you have to settle.

  1. Consider keeping your old home as a rental property

This way there would be rental income to help pay for the two mortgages and you will retain an asset that will grow in value over time. With the correct advice, you may be able to transfer the equity from your old home to your new one thereby making the rental property as tax efficient as possible.

Discuss your options

Capital Concepts are able to advise you on the best steps to take when considering purchasing your next home.