Preparing your finances for a new move

Moving into a bigger home is an exciting time, especially as it often means a growing family. If it’s time to move into a bigger and better way of living, Stockland communities are designed with families in mind – with a range of house types and located close to public transport, childcare, schools, shopping and entertainment. No wonder 124 families move into one of our communities every week!

In terms of financial preparation, you may not need to find a new home loan, but if you’re buying before you sell your current home, you may need to consider a bridging loan*.

A bridging loan* is a short-term loan designed to cover the purchase price of a second property to give you time to sell your existing property (even if you already have a mortgage). It essentially acts as a ‘bridge’ that allows homeowners to get from one to the other. 

Moving up in life doesn’t have to mean moving into a bigger house. People downsize for many reasons – an empty nest, too much upkeep, or just to simplify life. Stockland communities are a great option for downsizers, providing convenience, social connection, comfort, safety and a healthy lifestyle.

If you’ve built up sufficient equity in your current home, selling could potentially fund the entire purchase of your new property. If it’s been a while since you last had your home valued, now may be a good time to contact a trusted valuer to see what your home is worth and what you can afford to buy.