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Next Home Buyers Guide

If you need to borrow money to buy a residential property in New South Wales, I want to be your mortgage broker.

This manual is written for those of you who are ‘next home buyers’ in NSW. That is, you currently own a property, and want to buy your next owner-occupied property.
You may be selling your existing home, or retaining it as an investment property. But in either case, this manual assumes you need to borrow money for that ‘next home’ purchase.

There are countless reasons why you might want to move home. Your family may be growing—or shrinking. Your financial circumstances may have changed. You may want to live closer to a school or workplace. Or you might simply want a change of scenery or new neighbours.

Next home buying is the most common property transaction. But the process does have some complexity, and without a clear strategy it can become a frustrating experience.
This manual spells out the process, along with the advantages and disadvantages of seven different strategies to buying your next home. Adopting the right strategy helps eliminate risk and increases your chances of buying the right property at a good price—and with less stress.

Strategy 1. Sell, rent, buy

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 2. Sell and buy with simultaneous settlements

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 3. Bridging finance

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 4. An alternative to bridging finance

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 5. Bridging finance with no end debt

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 6. Retain home as an investment property

John Ruddick Mortgages First Home Owners GuideOwner

Strategy 7. Buying a home when you own an investment property

John Ruddick Mortgages First Home Owners GuideOwner