September 24, 2013
When it comes to laying foundations for the future, home equity can be a vital tool to help you achieve important goals.
Your home is more than your castle. It’s also a valuable asset and making good use of home equity can help you fund important needs as well as boosting your future financial well-being.
Home equity is the difference between your home’s value and the balance of your loan. With today’s rising property values, you could have more in equity than you realise. Now put it to work.
Kids cost a motza...
Families with kids can face considerable outgoings – expenses that are worth planning for. Research suggests it costs a typical middle income family $812,000 to raise two children from birth until they leave home. When it comes to meeting expenses like school fees, home equity can offer low cost finance options and could be a lot more manageable than using a personal loan or credit card to meet the cost - but speak to an expert.
And they could be with you for some time Even when the kids grow into adults, you could still face some substantial bills. Government figures show almost one in four (23%) people aged 20–34 years live at home with their parents.
Having adult kids at home can be lots of fun but it’s important for everyone to have their own space. Home equity can offer a source of funds needed to extend your home so that everyone has room to move.
Invest for success
One option to manage future expenses is by building a portfolio of investments. It may be possible to use home equity in lieu of a deposit to invest in a rental property. Or tap into equity to fund other assets like shares. The bottom line is that home equity is often an under-utilised resource. We can show you how much equity you have have, and highlight ways you can use it to secure your future.
To see what options you have, please call me today on 0414 259 699