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Upgrading Your Home

If your home is busting at the seams or it just doesn’t suit your lifestyle anymore, then upgrading to your next home may be your next step. Mango Financial Services can help you through the process of upgrading to another home. You may have more experience and equity in your property now, than when you first purchased. This means that you may need more features from your home loan, like having the ability to redraw or having a package deal that bundles many options together. We can help you sort through all these options and talk to you about what you need now. 

Next Home Buyer

Equity that you have built in your current home is very valuable and banks are wanting customers to keep that value with them. When upgrading you don’t need to stay with your current bank and keep all your business with them. When looking at upgrading, it is the perfect time to review your home loans and see whether you have the best deal for you. We can also help you make a strategy for your future purchases when setting up your upgrade purchase by making it more tax effective.

Things to consider before upgrading your home

Upgrading your home means that there are many areas to consider. Many upgraders may think that they need to sell their current home but you may also want to consider renting out your current home. We can help you with a decision like that by talking and accessing your situation. A few things to consider before you make the jump is:

  • What is your current home value?

  • Do you have a budget, so you know what you can borrow for your new home?

  • What is the best option with your current home – rent or sell?

  • Should you consider a bridging loan?

As a strategic mortgage broker we can help you through this process, saving you time and money. Call us today.