Blog

Spring into Property Goals: Renovate, Upsize or Downsize?

September 10, 2025

Spring is a season of fresh starts. Whether that’s family, lifestyle, property or finances. Just like a good spring clean, it’s the perfect time to take a closer look at your current financial and property situation and confirm what is working for you.

Maybe you are looking for a change of scenery, a bigger space or something a little more low maintenance. Whatever your next step is, spring is the ideal time to set your plans into motion.

Thinking About Renovating?

Renovations can breathe new life into your current property without giving it up. Before you go grab the paintbrush, here are a few key things to keep in mind:

• Budget – Renovations costs can easily add up quickly. Do you have the room in your budget for unexpected expenses that may hit?
• Timeframes – Do you have the time to manage the renovation, and a backup plan if you can’t stay in your home during the process?
• Approvals – Will you need to get council approval for the work?

Dreaming of a Bigger Home?

If a larger property feels more appealing, here are some questions you may want to ask yourself:

• Borrowing capacity – Can you borrow enough to cover the new purchase? Remember this doesn’t just include the price but also legal fees, stamp duty and moving costs.
• Location – Is there a new suburb you’ve been eyeing off?
• Current property value – How much could your current home sell for, and would it provide enough funds for the new purchase?
• New debt position – What will your repayments look like if your loan is increasing?
• Lifestyle needs – Working from home now? Maybe you require extra office space.

Looking to Downsize?

Sometimes, less is more. If the kids have moved out or your lifestyle has shifted, maybe downsizing might be the right step for you. Consider the following:

• Lifestyle changes – Do you want to spend less time maintaining a large home and more time travelling or enjoying other hobbies?
• Home equity – Chances are you’ve built up significant equity, which can make downsizing more affordable
• Accessibility – Moving into a single-level property might be more practical long term

The Bottom Line

Whether you’re looking at renovating, upsizing, or downsizing, spring is the perfect season to align your property goals with your lifestyle and finances.

Connected Finance can help you explore your spring property goals, crunch the numbers, and work out what’s financially possible for you. Get in touch today on (02) 4288 8100 or admin@connected-finance.com.au