Refinance vs Sell Calculator

Compare the financial impact of refinancing to access equity versus selling and buying again

Your Situation

Current Property Value

$300k$3M

Current Mortgage Balance

$0$2M

Target Equity to Access

$20k$500k

Current Rate

% p.a.

Refinance Rate

% p.a.

Selling Costs (%)

Agent fees, marketing, legal costs

Estimated Capital Gains Tax

New Property Price (if selling)

Recommended Strategy

Sell & Buy

You'll be $82,000 better off by selling

Refinance Scenario

New Loan Amount$500,000

Cash in Hand$100,000

Extra Annual Interest$8,000

5-Year Extra Interest$40,000

Net Position (5 years)$60,000

Sell & Buy Scenario

Property Sale Value$800,000

Less: Mortgage-$400,000

Less: Selling Costs-$28,000

Less: Capital Gains Tax-$50,000

Net Sale Proceeds$322,000

Less: New Deposit (20%)-$180,000

Remaining Cash$142,000

New Mortgage Required$720,000

Side-by-Side Comparison

Refinance Net

$60,000

Sell Net

$142,000

Difference

$82,000

Important Considerations

This calculator provides a simplified comparison and doesn't account for all factors such as stamp duty on new purchase, loan establishment fees, ongoing property costs, market conditions, or tax implications beyond CGT. Consult with a financial advisor and mortgage broker for personalized advice.

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Refinance vs Sell FAQs

Deciding whether to refinance your mortgage or sell your property.

Refinancing makes sense when: (1) you want to access equity for renovations or investment; (2) your current rate is above market (0.5%+ higher than available rates); (3) you want to consolidate debts; (4) your property is in a high-growth area and you want to retain exposure. The key question is whether your property has enough equity and whether lower repayments or released equity justify the costs.