Property Upsize or Downsize Calculator NZ

Deciding whether to upsize or downsize your home is one of the biggest money decisions you will make, and the appeal is usually easy to picture while the real cost is not. This calculator turns that decision into clear numbers. Enter the value of your current home and what you still owe on it, then the price of the home you want to move to, and the tool works out the equity you would walk away with after real estate commission, the size of your new mortgage, and how your repayments change per week, per year and over the whole life of the loan.

It also totals the true cost of moving, the part most people underestimate: agent commission and the 15 percent GST on it, legal fees for both the sale and the purchase, moving and removal costs, and the LIM, building and valuation reports on the new place. If you are downsizing, it shows how long your lower repayments and running costs take to pay that cost back. Every figure is editable, so you can test a higher sale price, a sharper interest rate or a cheaper agent and see the effect straight away.

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Updated  Current rates and legislation applied.

Enter your information into the calculator below, and push Calculate.

Current Mortgage Details Property (A)

Market value existing property

$

Amount owed existing mortgage

$

Equity in property(s)

$

Mortgage rate (in percent; i.e. 4.5)

%

Loan term left in years

years

Mortgage repayment frequency

Likely real estate commission fee

%

Proposed Mortgage Details Property (B)

Market value proposed property

$

Equity to use after current mortgage (A) sale

$

You will owe on proposed mortgage

$

Mortgage rate (in percent; i.e. 4.5)

%

Loan term left in years

years

Mortgage repayment frequency

Current Mortgage (A) Costs

Cost of mortgage per

$

Cost of mortgage per year

$

Total cost of mortgage after years =

$

Proposed Mortgage (B) Costs

Cost of mortgage per

$

Cost of mortgage per year

$

Total cost of mortgage after years =

$

One-off Costs of Moving

Legal fees to sell property (A)

$

Legal fees to buy property (B)

$

Moving and removal costs

$

Building, LIM and valuation reports (B)

$

Mortgage break fee on (A), if on a fixed rate

$

What the Move Costs You

Agent commission on sale of (A)

$

GST on commission (15%)

$

Legal, moving and report costs

$

Total one-off cost to move

$

Indicative NZ ranges: legal fees about $1,300 to $2,500 each side, LIM about $375, building report $400 to $800, registered valuation $700 to $1,200, moving $600 to $3,500. Edit to match your own quotes.

Ongoing Running Costs (optional)

Annual running costs now, property (A)

$

Annual running costs, property (B)

$

Change in Running Costs

Net change in running costs per year

$

Include council rates, house and contents insurance, maintenance and average heating. A bigger home usually costs more to run, a smaller one less.

Situation Specific Summary

Equity in property (A) before sale

$

Likely real estate fees to sell current property (A)

$

Equity balance after sale of current property (A)

$

Equity remaining after purchase of (B)

$

Net in loan payment owed per

$

Net in loan payment owed per year

$

Net in total loan payment owed across both loans

$
Your move at a glance

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Data sources: the rates and thresholds on this page are maintained against Inland Revenue. Figures are checked twice monthly.

Frequently asked questions

How much does it cost to move house in New Zealand?

Most of the cost is one-off. Expect real estate commission of about 2.5 to 4 percent of the sale price plus 15 percent GST, legal fees of roughly 1,300 to 2,500 dollars for each of the sale and the purchase, moving costs of about 600 to 3,500 dollars, a LIM of about 375 dollars and a building report of 400 to 800 dollars. On a typical sale the commission alone is often more than 20,000 dollars.

Is it cheaper to downsize your house?

Downsizing usually lowers your mortgage, your repayments and your running costs such as rates, insurance and maintenance, and it can free up cash. The main cost is the one-off cost of moving, mostly agent commission. This calculator shows how long the lower repayments and running costs take to pay that back.

Do I pay GST on real estate agent commission in NZ?

Yes. Real estate agents charge GST at 15 percent on their commission, on top of the commission percentage. The calculator adds this automatically so your total cost of moving is realistic.

What are the costs of upsizing to a bigger home?

A larger home usually means a bigger mortgage and higher repayments, along with higher rates, insurance, heating and maintenance. You also pay the one-off costs of selling and buying. Enter both properties to see how your repayments change per week, per year and over the life of the loan.

How is real estate commission calculated in New Zealand?

Commission is usually tiered, for example around 3 to 4 percent on the first 400,000 to 500,000 dollars of the sale price and about 2 to 2.5 percent on the balance, plus GST. There is no set national rate and commission is negotiable.

How long does it take to break even after downsizing?

Break-even is the one-off cost of moving divided by how much you save each year in repayments and running costs. If a move costs 28,000 dollars and downsizing saves you 8,000 dollars a year, you break even in about three and a half years. The calculator works this out from your own figures.