Financial considerations when you sell your home

Considering the financial aspects of buying your next home is about more than comparing your sale price with the cost of your new home. Take a holistic approach and factor in other moving costs and fees, as well as checking that your home loan can adapt to the change.

What’s your home worth?

What's your home worth?

Go to a number of different sources to get a well-rounded idea of what your home could sell for – here are a few ideas of where to start. 

  • Find out your rateable value
  • Talk to your real estate agent
  • Look at other recent house sales
  • Get a registered valuation
Selling and your Home Loan

What happens to your Choices Home Loan when you move?

Take your home loan with you

When you buy a new home you can usually take your Westpac Choices home loan with you, keeping the same rate and term without paying any extra loan fees. You might also be able to use Choices for an investment home.

When there's a gap between when you sell and buy

Whether you're going to buy before you sell and may need bridging finance, or want to sell first before buying again, we can give you the right advice. Just give our Mobile Mortgage Managers a call or visit your nearest branch, or read more about these strategies on the Getting started page.

Not planning to buy again?

If you're not buying another home, your existing home loan will need to be repaid with the money you get when your home sells. If you have a fixed interest rate there may be a break cost to pay off the loan early.

We'll work with your lawyer to arrange the repayment of your loan and the discharge of your mortgage. And of course we can recommend a suitable investment for the money you get from the sale, so that it continues to work for you.

Cost of moving

What will it cost to move?


Real estate fees

The seller usually pays the real estate agent when the house sale becomes unconditional. Fees and costs can vary quite a bit from company to company – some companies charge a base fee plus a commission based on how much your home sells for. Others charge just a commission, and some charge a fixed fee no matter what your home sells for.

You may also have other costs such as advertising (which you pay even if the home doesn’t sell).

Moving costs and insurance

Moving costs vary considerably. You could expect to pay up to $3,000 for professional movers to help you move within the same town or city. It also depends on how much of the packing you’ll do yourself, and you may need to consider putting things into storage too.

Most contents insurance policies don’t automatically cover your belongings during a move, so you’ll probably need to ask your insurer to give you extra cover for the day.


Ready to make a move? Talk to a Mobile Mortgage Managers or your nearest branch.