I need to upsize but should I wait for the market to heat up again?

We always tell our clients that if you are buying and selling in the same market, it really doesn’t matter if it’s cool or hot.  However, the subdued nature of the current market does make it a great time to upsize because the net transaction costs will be less.

Consider the following scenario:

If you sold a Townhouse for $1,200,000 and bought a House for $1,600,000 last year, you would have paid around $97,773 in fees and stamp duty.   The net transaction cost would have been $497,773.

If we consider the same scenario in the current market, where many property prices have dropped by 10%, the figures would look like this: The same Townhouse would sell for $1,080,000 and the House would be bought for $1,440,000.  Fees and stamp duty would be $86,573 and the net transaction cost $446,573.

The above example demonstrates that upsizing today as opposed to last year would save you $51,200!  A prospect definitely worth considering.


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