Four questions to help you find your next home

Buying your next home can take time. We explore some of our customers’ top tips and experiences.

Finding your second home depends on the answers to a new set of questions. We explore what may have changed for you.

If you’re buying a new place to live in, the checklist is pretty much the same as the first time you bought, right? Not quite.

When you’re looking for your second, or even third or fourth home, the things you need to consider can be vastly different to those that were important to you first time around.

We take a look at four questions you can ask to help guide your search for your next place.

  1. 1
    Will it suit my family?

    You may have bought your first home before you had even contemplated a family, let alone had one. Or, you may have taken the plunge when your children were little, and had different needs to those of primary school kids and teenagers.

    Things you might want to think about second time around include the size of the living spaces, indoor and out, and the proximity to schools and public transport.

    You can use our Property Guide app to search property listings around local schools or transport links and get an understanding of how much properties in the area are likely to cost you.

  2. 2
    Is there room to expand?

    As your family increases in number, or simply grows in size as your children get older, you might want the option to create more space for everyone without necessarily having to move house again.

    This means that renovation potential could be a consideration for you when you are out looking at properties. For example, you may look for homes with land space to expand or even places with extra rooms, which give you the option to convert them down the track.

  3. 3
    What will I do with my current home?

    As a subsequent home buyer, you may have the option of weighing up the question, should I keep my existing property and rent it out, or should I sell it?

    To work out what will suit your situation best, speak to one of our Home Lending Specialists, or use tools, such as our home loan calculator, to crunch your numbers and get an idea of your options.

  4. 4
    How much responsibility do I want?

    Depending on your life stage, you could be ready and willing to take on a bigger garden or property, or keen to relinquish some of the responsibility of looking after a place in exchange for more free time.

    If you’re thinking of downsizing, you might want less space to look after and more funds to spend on things like holidays or the family.

Whatever you’re looking for, it pays to ask yourself the right questions, so that your next home ticks the boxes for you now and into the future.

Talk to a Home Lending Specialist today to discuss what you’re looking for in your next home.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking independent financial advice before making any decision based on this information. Commonwealth Bank of Australia ABN 48 123 123 124.