The decision to upsize or downsize your home is one usually made for lifestyle reasons. That means you will also need to quantify the short to long term financial implications. The new financial obligations of the second property will be driven by how you sell the previous one. Key issues are the price of the new property (B), equity leftover from the sale of the original property (A), the new fixed-term length set and the new interest rate set. This calculator takes out all of the hassles from the calculations and allows you to test what the net effect would be based on multiple scenarios.
It is here as part of our partnership with Calculate.co.nz.