Increasing Your Home Equity!

Posted by Admirals Cove Homes on Jul 25, 2014 in Home | 0 comments

One of the biggest and most desirable advantages of home ownership is the ability to build home equity. Being diligent about building home equity is the best way to manage your personal financing and profit from the sale of your home. So we have put together a list of the top five ways to increase your home equity faster and more effectively.

1.)   Make A Payment Every Two Weeks: A great way to increase your home equity is by setting yourself up on a bi-weekly payment schedule. This probably won’t make too big of a difference to your monthly budget but can really have an effect on your home equity quickly.

2.)   Make A Lump Sum Payment: Many mortgage holders choose to make a large lump sum payment every so often to increase their home equity. Each payment may not seem like much by itself but after a few years you will really see a difference in your home equity.

3.)   Renovate Your Home Wisely: It is very important that you renovate your home wisely by choosing home remodeling and upgrade projects that have the highest return on investments. Be diligent with the money you invest in your home and you are sure to improve your home equity more effectively.

4.)   Add On To Your Home: Adding room on to your home is the best way to increase its value and in turn your home equity. Even though this can be expensive, adding a new room to your home is the best possible investment you can make in your home when it comes to improving your home equity.

5.)   Refinance Your Mortgage: Maybe the most effective way to increase your home equity faster is by refinancing your mortgage to get a lower interest rate. A lower interest rate is one of the best ways to build your home equity quicker so if you can refinance then you should.

Everyone can benefit from increased equity whether you own a magnificent Admirals Cove home in South Florida or a home anywhere else throughout the nation. Please consider sharing these great tips!