Fall is the perfect time to give your home and yard a little TLC before Old Man Winter moves back in! We’ve compiled a simple, and easy DIY checklist that will make your Winter more pleasant and hopefully prevent any surprises from popping up! Even if you choose to hire a repair person to tackle these To-Do’s it’s still a good investment and can save you from potential headaches down the road – and some big expenses. Continue reading “Fall maintenance tips to keep your home in tip top shape”
Building equity in your home, the difference between a home’s fair market value and the outstanding mortgage balance, is every homeowner’s goal. After all, it is the whole point of buying a property vs. renting it. Home equity is valuable savings, but it can also be a valuable finance tool. Continue reading “The do’s and don’ts of using the equity in your home”
With the overwhelming amount of DIY magazines, television shows, websites, and Pinterest boards, at some point you’ve probably decided that at least one room in your house needs remodeling. It’s hard not to get inspired by some of the unique and beautiful designs that you see, not to mention the improved functionality or space that you might gain. But what you don’t see behind the magazine pages or edited from the tv episode is what REALLY to expect from a home remodel. Remember, no matter how amazing the finished product looks or how much value is added to your home – you still have to live through the remodeling process – which for some may be daunting! Continue reading “What to expect during a home remodel”
Of the many ways there are to tap into the equity that your home has acquired with time and appreciation, one of the most flexible is to set up a Home Equity Line of Credit, or HELOC, as it is commonly known. Unlike a standard home equity loan that is paid to you in a lump sum and paid back in a fixed amount of time, usually at a fixed interest rate, a HELOC establishes a certain level of credit, secured by a lien on your home, against which you may draw as you need it. It can provide you with a comfortable cushion for unexpected expenses like small renovations, extra college bills or medical expenses.
Your home is probably your biggest asset. Have you ever thought of using the equity in your home to finance other “stuff”?
A home equity line of credit, or HELOC as we call it in the banking world, allows you to borrow money against the value of your home. It works like a credit card, you withdraw money as you need it> The difference between plastic and a HELOC is a home equity line of credit carries a low interest rate and is tax deductible. Win-Win!
5 Situations where a Home Equity Line of Credit makes sense: