Young couples

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What do we need to know when considering moving to a larger house?

As exciting as the prospect of moving to a bigger house is, it can be quite an undertaking and must be taken seriously.
  • It’s important to establish if this move is a need or a wish. If your present home no longer accommodates your family’s growth, then moving to a larger home will likely be necessary
  • While a larger home may seem like an attractive option, it will also be more expensive to maintain. This might outweigh the perceived benefits if you’re moving to simply due to a wish
  • Speak with your existing financial advisor to assess your current situation and see if you are able to comfortably service a bigger loan
  • Review any other debt you have (e.g. credit card, car loan, school fees etc.) as this can have a significant impact on your borrowing capabilities. Make sure debts are either paid up-to-date, or paid off entirely before investigating or applying for a new mortgage
  • Make use of tools like a home loan repayment calculator to work out what you can afford - Use our finance calculator
  • Talk to a First National Real Estate agent about selling your current property and finding your dream home
First National has over 400 offices across Australia and New Zealand. Find your closest office here.
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