Once you’ve taken that first step into the real estate market, it’s common for many first home buyers to become even more excited about moving on up the property ladder and upgrading to something that’s closer to their vision of a dream home.

If that’s the situation you find yourself in, it’s important to take stock of your home loan options in order to help make the transition process of moving out of the old house and into the new one as smooth as possible.

What are my options?

As you’ll know from your first home loan, there are many options out there when it comes to financing the purchase of your dream home.

For example, if you’re planning to build your own version of that dream house, it’s likely that you’ll need a construction loan to help finance the development of your new home.

If this is what you’re looking for, it’s important to remember that it should be structured wisely so that money is available as you need it, so you won’t be surprised by any unexpected costs that come up throughout the building process.

On the other hand, some people who are in the middle of moving between one house and another turn to bridging loans to help cover this transition period – these are short-term loans designed to help you bridge the gap between purchasing the new property and selling the old.

Getting ahead

Regardless of what type of home loan you are searching for, it pays to have aTrusted Mortgage Broker on your side so you can take advantage of professional advice.

At Trusted Mortgage Broker, our team is highly experienced at navigating the home loan market and are focused on working with you to help you find the mortgage that best suits your needs, so you can rest assured that we will help you find a better financial outcome.

Trusted Mortgage Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan. Have a look at our calculators on our website to help you further. www.trustedmortgagebroker.com.au/calculators/

About the Author

Sue Hayter

Sue's service commitment is fantastic. At Trusted Mortgage Broker we work with our clients to ensure they understand their options, know exactly how much they can borrow and ensure they choose the right home loan and the right lender that is not unsuitable to their individual needs.

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