Turning your home into an income earner for the family has become increasingly popular as interest rates remain relatively low.
Here are five strategies to make the most of the equity you’ve built in your home.
- Deposit for an Investment Property – Using the Equity in your home for a deposit to buy another property is a key strategy to building your property portfolio.
- Renovate your home – Understanding the key driver for wanting to renovate is important. You can use your equity to increase the capital value of your property in the future, or you can use it to give you and your family advantages today.
- Education – Have you thought about getting that degree or your next qualification? Use your equity to realise this goal faster, reach that next level, or salary increase. Use your equity to invest in you and your future now.
- Work/Life Balance – It’s important to find that balance for your family and yourself, to rejuvenate and reconnect. Using your equity to take that long-overdue trip can give you a fresh perspective and clarify what you’ve accomplished so far. Returning relaxed refocused and reconnected is a great investment in your health and well-being.
- Invest in other Wealth creation opportunities – Opportunities come up when you least expect them. Consider using your equity to take advantage of any of them. Whether it be investing in the share market, exploring a business proposition or a retirement strategy make sure you do the research and make an informed decision about how you can use your equity.
Have you maybe realised some further potential that you can create with your Equi ty?
Make this the year to Invest, Renovate, Upskill, or just balancing work and life using Equity.