Upgrading or Downgrading

Life changes naturally occur in the family when additions are made to it or when children fly the coop. When the decision to have children is made or the mother-in-law is moving in, things can get suddenly cramped. That’s the time you’ll be thinking of upgrading to a larger and more expensive home. Now location considerations also change. In this case being near a school, parks, shops and even a hospital may suddenly become important criteria.
But, once again, the longer you delay in making the change, the harder it becomes because the market will have climbed in the meantime. So moving sooner rather than later enables you to buy in at a more favourable price, giving you more opportunity for capital growth.
Now let’s look at the opposite situation—down-sizing. In this case maybe the children are moving into their own pads and suddenly the house seems too big. Oddly enough, the situation reverses itself and you have the luxury of waiting to purchase until the market is in a strong growth phase.
The reason for this is that you can maximise the capital growth on your current property when you go to sell and minimise the mortgage (if any) on your next home or maximise any left-over funds for you to utilise in your life of retirement.
We at Professionals Logan Lifestyles can assist you on any real estate matter. If you have a question or are interested in a sale, purchase or lease feel free to contact me on 0418 517 575 or call into our friendly offices at Westpoint Shopping Centre Browns Plains for a chat.