Seller advice: Make sure your upgrade is a good move

In the current market, with slow property price growth and interest rates - and bond repayments - set to fall further this year, an increasing number of homeowners are considering an upgrade to a bigger or more expensive property.

Families grow, earnings rise and lifestyles change, and any of these factors can bring about a decision to find a new home in a better area or one offering more elbow room.

And there are many who believe that now is actually an ideal time to upgrade - especially if they are among those who bought their homes after the market crashed in 2008/ 09 and have watched the value of those properties rise by an sturdy average of XXX since then.

However, there are a few things you need to check first if you are considering making such a move, such as what sort of deal you can get on a new bond.

A reputable bond originator will be able to tell you, for example, if you qualify for a much bigger bond now or a lower interest rate than when you bought your current home, especially if your earnings have increased and you have a strong credit record.

On the other hand, you need to be realistic about how much more you can really afford to pay for your home each month, especially if your family has growth since your last home purchase and you now have school fees and higher food, transport, insurance and medical costs to consider.

Just because a bank approves you for a certain amount, it doesn't automatically mean you should spend that much. You also need to factor in other debts and expenses and long- and short-term savings goals like university for the children and your own retirement - and leave yourself some leeway to cope with emergencies.

In addition, if you are intending to sell your existing home in order to upgrade, you will need to be realistic about what price it is likely to fetch. Prospective buyers have a big choice of homes at the moment and are just as value-conscious as you are when looking at potential upgrade homes.

However, there is good demand for well-priced properties, so if you work with a qualified and knowledgeable agent to set the correct asking price and market your home properly, you will sell within a few weeks - and be free to purchase a more valuable property at a favourable price that will help you to maximise your gains over the next 10 years.