It may seem easy to put your home onto the market and move to a bigger one. But before you do, here are a few things to consider:  

The costs associated with moving house can be significant and include:

• Stamp duty – if you are buying a house that costs $700,000, stamp duty and government costs will be approximately $27,700.  
• Refinance costs – will vary depending on your bank and the loan.
• Agent fees – The average is 2 – 2.5% or $10,000 to $12,500 when selling a $500,000 house.
• Conveyancing costs - $700-1300.
• Building and pest inspection reports – between $500 - $1000.  
• Moving costs – between $500 and $3000 depending on the contents of your home.
• Marketing costs – between $500 and $1000 for 45 days.
• Renovations and repairs to your existing home for sale.
• Home staging expenses – between $2000 and $8000.  

Before you make a decision, speak to your local, licensed builder so they can give you an idea of what it would cost to extend your home and what you can achieve with your budget.  

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