Standard Integrated Lending Solutions in North Sydney | Mortgage brokers

Standard Integrated Lending Solutions

Locality: North Sydney

Phone: +61 421 511 865

Address: 13/132 Arthur Street 2060 North Sydney, NSW, Australia

Website: http://standardlending.com.au

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18.01.2022 Standard Lending

01.01.2022 What does a declining market mean for Upsizing/Downsizing? Example let’s say you live in a unit worth $800,000 and you want to upgrade to a home worth $1,300,000. If the market has come off 5% overall then the numbers would look like this: Selling for $800,000 5% = $40,000 less you would receive on the sale of your property.... Buying for $1,200,000 - 5% = $60,000 less you would have to pay for the property you purchase. That means even though you sell for $40,000 less you will be buying for $60,000 less so you are still $20,000 ahead. To summarise, it's always better to trade up not down in a declining market as long as it's affordable. www.standardlending.com.au