Home equity is the difference between what your home can sell for and what you owe on it. Generally, the longer you own your home, the more equity you build.
This is money you can use before you sell your home through a home equity loan. Just keep in mind that a home equity loan is secured with your home. If you can’t make the payments, you can lose your home.
Use Your Home Equity In Smart Ways:
- Remodel Your Home – If you’ve wanted to add on a family room or modernize your kitchen, consider using your home’s equity to fund the project. Home improvements usually increase your home’s marketability and value.
- Make Needed Major Repairs – Your home’s equity can be a funding source for major repairs like plumbing problems and re-roofs. Once again, this is an improvement for your home that will help keep its value up.
- Buy Another Property – Real estate is still a safe investment. You can use your home equity to buy a second property when home values are down. When the market recovers, you can sell the investment property for a profit. This also works if you have to move out of town and are still trying to sell your home. If you can afford the payments, use your home’s equity to purchase your new home until the current one sells.
- Pay For Unexpected Medical Expenses Or Job Loss – You never know when a medical emergency or job loss will leave you in debt. A home equity loan can give you the money you need to get through this difficult time.
It’s easy to build equity in your home when you find the right deal. Let me help you find your perfect home and negotiate a great price and terms for you. Contact your mortgage professional today.
The idea of conducting an energy audit on your home might seem like something complicated that should be left to the experts, but there are ways for you to make your home a little greener without consulting anybody. Instead of having someone else do the work, here are a few simple ways for you to inspect your home and green up its energy use.
Whether you’re moving to a new home or you have a new family pet, it can be a struggle to make the place a little friendlier for them. From the garbage can to the cupboards and doors, there can be a lot of dangers that have the ability to hurt your furry friend you might not be aware of. If you’re looking for some simple ways to make their life a little easier, here are a few things you can do.
Rent has gone up significantly during the past year. Even though it is not unusual for rent to go up over time, the average rent across the country has increased significantly during the past year. This means that the average rent will probably be even higher next year than it is this year. Even though this is one of the biggest deterrents against renting, there are other reasons to get out of the rental market as well. 
The thrill of purchasing a new home is unparalleled; however, once you close on the sale, the dreaded unpacking process begins. You probably did not realize just how much stuff you had until you had to pack it all up. Worse yet, you need to unpack it when you get to your new home. If you don’t unpack intelligently, your new home could end up disorganized and full of clutter. With this in mind, how can you unpack without leading to a tremendous amount of clutter in your home?
With the impact we have on our environment becoming a matter of greater concern, it’s becoming more important for the average citizen to know they’re doing their part. While there are many simple tricks for saving water that will make you feel better about your environmental footprint, here are a few easy upgrades that will make that saving a little more automatic.
Many people look forward to the long, relaxed, sunny days of summer, but they also dread opening up their energy bills throughout the summer months. Cooling a home can be costly, and many are searching for convenient ways to lower cooling costs without sacrificing on comfort inside the home on the warmest days of the year. These are just a few of the cost-effective and convenient options that can help homeowners to reduce cooling costs throughout the summer.
A key factor that often drives the sale of new homes versus existing ones tends to be cultural. Rather than being financially-driven or associated with location factors, many homebuyers will steer clear of existing homes where someone has passed away. The primary fear tends to be concerns about a leftover spiritual residual in the home that could affect the new homeowners. Despite the abundance of TV shows about ghost-chasers and similar, the stigma of a dead person’s home has been around for centuries and is still alive and well today.
Selecting the right home to purchase for a family is a monumental task, and this process can seem even more challenging for those with a large or growing family. A common goal may be to give everyone ample space to stretch out and feel relaxed, but some home buyers may also be focused on other factors like location, cost and even the general style of the home. While choosing the perfect home for a large or growing family is not easy, the process can be simplified by focusing on a few points.
If you’re buying a home, you’ll want to try to get your mortgage processed as quickly as possible. Improperly filed mortgage applications are one of the biggest reasons why home sales get delayed, and if you have a hard move-out date already set, it’s critical that your mortgage process goes smoothly.