Mind The Gap

Why this is the best time to upgrade your home in the last 10 years.

If you’re thinking of upsizing or upgrading your home, congratulations! This is the best possible market in which to make that change.

The key is in dropping any hard feelings you have about the state of the market or how much you think you’ve ‘lost’ on your current home.

Let’s run the exercise – selling in today’s ‘not so great’ market Vs selling in a better market.

2019
Your Home’s Value – $800,000
Fees and charges to sell your home – $20,000 ( assuming 2.5% selling fee )

The Home you want to upgrade to – $1,200,000
Stamp Duty – $53,594.90

Total Change Over Cost ( the gap ) – $473,594.90

20** ( a better market )
Your Home’s Value – $880,000 ( up 10% )
Fees and charges to sell your home – $22,000 ( assuming 2.5% selling fee )

The Home you want to upgrade to – $1,320,000 ( up 10% )
Stamp Duty – $59,714.90

Total Change Over Cost ( the gap ) – $521,714.90

Waiting for the market to improve by 10% before selling and buying your new home? That’s going to cost you an additional $48,120!

Wayne Heldt.

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