You Have Equity in Your Home! Now What?!
- Take out a line of credit to buy an RV.
- Refinance a 30-year mortgage to 15-year.
- Enjoy a trip of a life-time with the family.
- Finance your child’s upcoming wedding.
- Move equity forward to your next home.
- Remodel the lower level and add a deck.
- None of the above.
- All the above.
The point is, you have choices on how to utilize your home’s equity. Perhaps too many! Take the time to revisit your own financial and personal goals. Are the priorities you set at an earlier date still in line with the long term plans you set for you and your family? Do they conflict in any way? Talk to your team of advisors. As your Realtors, have us over first, to determine just how much equity you have in your home. Is it what you expected? Will it be the amount you need if and when you need to access it? Go a step further and look at the costs of what you are using the equity for in the first place. Finally, keep in mind that it is okay to go through these steps and do nothing. Sometimes simply knowing you have equity in your home is all the knowledge you need!
By Kristin Beise, RE/MAX Advantage Plus
