Duck, duck, goose? Getting caught out by overlooked debt, an unfavourable builder’s report or a new mortgage that removes the fun factor from your life can really put a spanner in the works (or a cat among the ducks, so to speak). A quick financial WOF prior to selling your home will let you examine what’s under the hood, and ensure you’re sitting pretty before you get into the nitty gritty.
Whether it’s the slightly suspect patch on your deck that feels like it may give way if you stand directly on it, or that leak in the ceiling that only happens when it really pours down. Ensure money-sucking must do’s are taken into account when looking at the real cost of selling your home.
Expert tip – get a builders report and see what potential buyers would see. Is there anything off-putting that can easily be fixed prior to sale?
We’re not talking about a man and a van, we’re talking any associated increases in mortgage repayments with your future home, current and future expenses, legal fees, lender fees, marketing costs and more. While filling in a spreadsheet is hardly a favourite pastime for most, as a home seller you'll be rewarded for your studious ways in the long run.
Trading up? Downsizing? Planning to retire at 50? With your end goal in mind, it’s time to take a good hard look at your financial goals and how mortgage number 2 will impact on your future lifestyle.