Jenny and William* are a young couple with two small children who, like many growing families, were starting to outgrow their current home.
They’d made a smart move early by buying a unit a few years ago. But with two kids, toys everywhere, and a growing sense of “we need more space,” they were ready to upsize. The challenge? Even after selling their current unit, they didn’t quite have the borrowing power or funds needed to comfortably purchase the larger family home they had in mind.
That’s where we stepped in.
The Situation
Jenny and William came to FinRoc Finance for advice on what they could do next. Their goals were clear:
- Find a larger home within 12–18 months
- Stay in a good school catchment
- Avoid financial stress from overcommitting too early
- Work together on a plan they could realistically achieve
But with Jenny still on maternity leave and their budget stretched thin, it was clear that trying to upgrade immediately could lead to financial pressure or settling for the wrong property.
The Strategy: Consolidate, Plan and Prepare
Rather than rushing into a purchase, I proposed a strategic 12-month plan that would allow them to strengthen their position, increase their options, and move forward with confidence.
🔹 Step 1: Consolidate Their Position
- Hold their current unit for another 12 months to benefit from any increase in value
- Build equity through loan repayments and possible market growth
- Hold off on buying until Jenny returns to work in mid-2025 improving their borrowing capacity with two incomes
🔹 Step 2: Budget and Save
- Review all expenses and create a clear household budget
- Identify areas where they could reduce discretionary spending
- Set a realistic savings target to add to their deposit over the next year
- Open a dedicated account for savings and track it monthly
🔹 Step 3: Research the Market
- Use the next 6–12 months to explore preferred suburbs
- Attend open homes and track sale prices to get a feel for true values
- Understand what kind of home they could realistically afford with their improved position
🔹 Step 4: Track Progress Together
- We agreed to review their progress every 3 months, checking in on:
- How much they had saved
- Market conditions
- Any changes in borrowing capacity
- Interest rate trends
The Outcome (So Far)
Jenny and William left our meeting not with a loan – but with a plan. And that plan gave them something many buyers don’t have: clarity, confidence, control and a timeframe.
By focusing on consolidating their position, they’re avoiding unnecessary pressure and positioning themselves to buy the right home, not just the next one.
They’re already making solid progress on their savings goals and feel empowered knowing they have expert guidance at every step. Plus with interest rates going down they’re feeling like upsizing is a very real possibility.
Your Next Step Could Be a Plan, Not a Purchase
If you’re feeling stuck or unsure about how to move forward – whether you’re trying to buy your first home, upgrade, or make smarter use of your equity – we can help.