Downsizing

What Size Property Do I Downsize To?

You are finally about to make the step of reducing the size of your living area and home size, and move to a smaller property. How small to downsize to and what can we live without, are two questions we are often asked.

Your family has grown up, leaving empty rooms that may have been filled with other items now, or you may have already done a deep clean and removed things from them. With so many areas, that accommodated a growing family, it’s a hard choice to make to downsize.

And maybe it’s just you living in the larger property now, and your voice echoes into the empty spaces.

The largest decision that we find most clients get stuck on, is how small to downsize to especially when the family home is usually the main residence that the family congregates to. Where would you go for celebrations if you didn’t have the two, three or four outdoor and indoor areas where you now have?

Some of the options that clients look at are apartments, villas and townhouses and smaller houses/terraces. Some apartments will have common areas, where you can book and hold your family celebrations if your new living room won’t cater for the tribe arriving.

If your property is paid off, you may be one of the fortunate ones that are able to sell, buy a lesser valued property and be without a mortgage.

And you may not be – so if we can help you with a free one on one consultation to discuss some options please reach out to us. We deal with over 30 lenders so have many options for financing a property.

You may have been loyal to your bank for many, many years, perhaps even since you purchased your home. Some clients know their current interest rate, and others just leave it in the hands of their bank. They have been dealing with them for so many years that they are sure to be giving them the best rates. Right?  Not necessarily….

When you work with a Mortgage Broker, they ensure you are getting a great rate, and most importantly, the best package that suits your situation.  When some clients want the flexibility to put extra money in, and pay off the home loan sooner; other want to add extra payments into an offset account so they can draw on it if they ever need it.

Don’t worry if banking terms and abbreviations seem like another language to you – that’s where we are here to help!

All the LVR, comparative rates, offsets, draw downs, fixed rates and other jargon may not mean anything to you – but it should.

Here at Sydney Mortgage we like to make it easy for you to understand. We guide you through each step, ensuring you know what is on offer for you, working with you to upload the necessary paperwork to obtain a YES from a lender, and a smooth transition to your new loan.

The cheapest interest rate may not be the best rate. When you add up fees, banking terms, set up costs and the total costs over the life of the loan you will be surprised on the comparisons we can show you. We work with over 30 lenders so have a huge selection to offer you.

Our appointments are complimentary so why not book a one on one appointment with one of our Brokers today? We can meet over skype, phone or in person to suit you.

How Much Can I Borrow?

We offer one on one consultations and work with you to find out how you can pay out your mortgage and find a home loan again. Find the best rates and the best loans that suit your situation. We work with over 30 lenders so have many packages to compare. For your FREE consultation please click below;