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Home upgrade guide

The ultimate guide to upgrading your home

Everything you need to know about upgrading your home, whether you’re thinking about renovating or looking to buy a new home.

A couple hugging among moving boxes in the living room of their new home
8 practical chapters

Start with the whole journey

Start by deciding whether to sell first, buy first, or keep your current home and rent it out. Each path changes how much you need, the timing risk and the loan structure.

Sell first, buy first or keep your home?

Selling first gives you a known sale price, but you may need to rent between homes. Buying first can need bridging finance and carries the risk that your sale takes longer or brings in less than expected. Simultaneous settlement lines up both settlements on one day, which needs your contracts, lenders and solicitors coordinated. Keeping your current home means carrying two loans and the rental property costs.

Equity is your property value less what you owe. Most lenders let you borrow against it up to about 80% of the property value before lenders mortgage insurance (LMI) applies. What you can actually borrow is a separate approval based on your income, expenses and debts, so equity alone does not set your budget.

Renovating your home

Planning on renovating? These resources will help you to plan out your renovation and make sure you've got enough funds to get it done without the financial stress.

Finding the right home

Most people will tell you that property is all about location. But in reality, it is way more complex than that. These resources will help you to understand where to find the best properties, and how to do your step-by-step research online:

Buying a home

These resources cover all of the different aspects of buying a home:

Home loans explained

Fixed rates, LVR, LMI, offset or redraw - home loan terminology can be confusing. We cover everything you need to know in these resources below:

Applying for a home loan

When should you get a home loan? How does it work? And what happens if your loan gets declined? We help answer all of your questions (and many more) in the below:

Home loans for different types of employment

Your home loan options can vary based on your type of employment and profession. Check out these resources to find out more:

Bank home loan review

Do you have a particular bank in mind? Or maybe you're just curious? Check out our bank reviews below:

Questions and answers

Get an answer for your next move

How will you fund your next home? Share your income, current loan, equity and savings, and the team can show how you could fund the move, including whether you'd buy before you sell.

Book a free assessment

or call 1300 088 065

Hunter Galloway Finance Pty Ltd is Credit Representative 476903, authorised under Australian Credit Licence 389328.

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