Getting ready to sell your home

Whether you’re planning to buy another property or settle into retirement, here are some things to know beforehand.

Consider your options

It’s good to do the groundwork first and understand your current financial situation. If you have multiple loans or properties, it might be worthwhile reaching out to your lender or broker – they can help explain the process and calculate what your finances might look like after.

If you’re buying another property

If you're getting ready to buy your next home, you’ll need to work out how much your current property is worth and take out how much is remaining on your home loan – this will help you set a budget for your new place. Plus, this will also give you time if you want to spruce up your property and in turn – the property’s value.

If you’re keeping the funds

If you’re simply selling to access equity, then the big question is: how much is left to pay on your home loan? You can then do the maths to see how much you’ll be able to keep. If your property secures more than one home loan, or is cross-collateralised, this can also impact how much you’ll receive.

Crunch the numbers

Right, now you know how much money you may make (or owe) after you sell your property. Now to work out any fees that might pop up along the way.

Real estate agent fees

Each agent will be different, but you could be paying for things like their commission, advertising, professional photo – plus, there might be additional costs if you plan to sell at auction.


You might be planning to invest a little, to get a little more for your place, so you’ll need to consider your budget. Will a fresh coat of paint do the job? Or, are you leaning towards a full room renovation? There are many ways to fund your renovation, depending on the size and budget.

Moving costs

Think about things like hiring a moving truck, people to help you move and other things like packing boxes. It might not seem like much, but it can quickly add up.

Government and settlement fees

If you’re buying another property at the same time, there are a few government fees to consider, as well as settlement costs.

About this article

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The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.