# A Guide to Selling Your Home When Upsizing

## Why Upsize?
Life changes. Your family grows, you need a home office, the children need their own rooms, or you simply want more space. Upsizing is an exciting chapter — and with the right planning, it doesn't have to be stressful.

## Planning Your Upsize

### 1. Know Your Budget
- **Current equity:** Your home's market value minus your outstanding mortgage
- **Mortgage capacity:** How much a lender will offer you based on income and affordability
- **Total budget:** Equity + new mortgage = maximum purchase price (minus costs)
- **Get an AIP** before you start viewing larger homes

### 2. Sell First or Buy First?
- **Sell first (recommended):** You become chain-free — the strongest buyer position. You know your exact budget. Risk: you may need temporary accommodation.
- **Buy first:** Only if you can afford to own two properties simultaneously, or if bridging finance is viable. Risk: pressure to sell at a lower price.
- **Simultaneous:** Most common but requires careful chain management.

### 3. Stamp Duty Implications
- You pay SDLT on your new, larger property at standard rates
- If you own your current home at the point of completing on the new one, you may pay the 3% additional property surcharge — but you can reclaim it if you sell your original home within 3 years
- Plan your timeline carefully to minimise SDLT exposure

### 4. Think Long-Term
- Will this home still suit you in 10–15 years?
- School catchments, commute changes, future family plans
- Garden size, storage, parking — the things you can't easily change
- Energy efficiency — larger homes cost more to heat. Check the EPC.

### 5. The Chain
- Upsizers are usually in a chain. Communication is key.
- Brief your solicitor to be proactive and responsive
- Keep your agent updated on your buying position
- Be flexible on timescales where possible — it smooths the chain

## Key Costs When Upsizing
- SDLT on the new property (potentially at higher rates)
- Higher mortgage repayments
- Increased council tax (larger band)
- Higher utility bills and maintenance costs
- Moving costs (larger home = more to move)