Pay Now, Pay Later Real Estate.

How to move without any out-of-pocket expenses

Moving house soon? We’ve put together the top three biggest expenses homeowners should consider when moving, and how to minimise out-of-pocket expenses.

If you don’t have thousands of dollars readily available to fund your next move – we’ve put together a comprehensive list with the most common expenses, as well as alternative ways to pay for these costs, without hurting your wallet.

Moving can come with some unexpected costs, that have the potential to burn a big hole in your pocket. Although it’s never as simple as moving from point A to point B, there are some simple steps homeowners can take to set themselves up for success throughout the move. Here are the costs you’ll need to consider!

Happy couple buying new home and receiving house keys form real estate agent.

Costs involved in selling your home

  • Agent fees
  • Marketing fees
  • Staging expenses
  • Repair costs

If you’re ready to sell your home, the most important decision (and the highest cost) will be choosing your real estate agent, who will organise the marketing campaign for your property. According to OpenAgent, the average commission rate for an agent in Hawthorn, Victoria is 1.79%, which would result in a fee of $21,480 on a property sold for $1.2 million.*

Most people are surprised to learn that the cost the advertise a property falls on the homeowner, and often needs to be paid upfront before the campaign commences. A standard campaign can cost anywhere from $2,000 – $10,000, depending on where you’d like to advertise your property.

It’s important to remember that agent fees and marketing costs are an investment – with the right marketing campaign, your house will be put in the spotlight – and the right agent will drive competition to help you reach the highest selling price.

Luckily for homeowners, new payment solutions have reached the real estate industry, with more and more vendors choosing to Pay Later for their marketing costs. If your real estate agent is partnered with CampaignAgent, you can choose to defer payment of your marketing costs until your property has settled, through our Pay Later option.

Costs involved with buying your next home

  • Deposit on your next place
  • Transfer fee on the title
  • Mortgage insurance (if applicable)
  • Inspection fees

When it comes to buying a second property, often the biggest sticking point is the finance. After all, it can take years to save for your first home deposit – saving for a second deposit may seem impossible. This leaves many homeowners thinking they need to sell their current property before they buy their next, to access the funds from the sale. 

While some costs in this stage of the process are unavoidable and will need to be paid out-of-pocket (such as mortgage insurance), there is a new way to fund your next move. With new, alternative financial services like CampaignAgent, vendors can now access the equity in their current home before it reaches settlement – helping homeowners secure a deposit for their next place faster.

Our latest product, DepositNow, allows vendors to access their equity, anywhere from $30,000 to $250,000 (so long as it is less than 80% of the available equity), with a simple and fast application process. Unlike big banks with slow processes and lots of red tape, we can provide next day funding for approved applications – giving homeowners the flexibility and financial certainty they need to place an offer on their next place.

Costs involved with moving houses

  • Paying removalists (twice)
  • Renting a place before you buy
  • Paying for storage 

If you choose to sell your current property before buying your next, there are a few unexpected costs that can mount up quickly. For example, most homeowners will need to find accommodation between places – and while short term accommodation is not impossible to find (unless you’re considering moving in with family), it can be a costly venture to find a place to stay short term. You also run the risk of not finding the right property to buy next, which might extend your stay.

Another cost to consider is paying removalists to move your furniture out of your current place and into the short-term accommodation. And then from the short-term accommodation to your new property. According to Hire A Mover, a typical 4 bedroom house taking 7-10 hours with 3 movers and a truck would cost between $1,275 and $1,785.^

When comparing selling before your buying, and buying before selling – the two have their own unique costs and challenges. With new payment solutions available, homeowners have the financial freedom to make the decision that suits them. 

If you want to maximixe your cashflow, talk to your Agent and ask if they’ve partnered with CampaignAgent so you can have better options for your next big move.

Get Your Free Guide

Whether you’re upsizing, downsizing, or purchasing an investment property – there’s a lot involved. Download your guide today.

Who is CampaignAgent?

CampaignAgent is the leading provider in Pay Now, Pay Later solutions for real estate marketing. For most Australians, buying a house is their greatest achievement and the biggest investment of their lifetime. With our smart finance solutions, homeowners can make the most of the sale of a lifetime.

We firmly believe that with the right support in place, Australians can realise their dreams through property.

Want to learn more about DepositNow? Enquire today.

DepositNow loans incur a fixed establishment fee from 3.69% of the amount borrowed. An interest charge of 1.67% per 30 days starts on day 61 and is charged daily on the outstanding balance until repayment. Loan repayment is due on the earlier of settlement of your property or 6 months after the date that we fund you.

* https://www.openagent.com.au/blog/what-commission-should-you-pay-victoria-real-estate-agents

^ https://www.hireamover.com.au/how-much-does-a-removalist-cost-in-melbourne/