13 Nov A way to build equity in your home
A way to build equity in your home
The attached video is with Sasha Zerin and Alex Bowes and they describe the process of creating equity in their home.
The background…they wanted a house with a nice size wooded lot, Alex wanted a basement that would not have ceiling height issues and they wanted a house to grow into.
How did that limit our search?
Originally Saint Paul was in the mix, but the yard size and unusable basements eliminated that. With new construction you got the feel and new features they were looking for but small, unwooded lots with no privacy eliminated that.
Where did the search then go to?
They decided to look in established areas for a house that had the bones they needed, a wonderful yard and a neighborhood that would support an increase in home value with the updates they wanted to make. You can see in the video they replaced the kitchen, flooring on the main level, enameled the trim, molding and paneling, changed out the lighting, customized the fireplace and completely changed the look of the house.
That create equity.
Yes, they made the improvements and then refinanced and took the investment they put in back out and keep the equity in the house to lower the new payment.
Brilliant. Have the lot and updates you want and create equity all at the same time.
In conclusion, talk to an experienced agent about a way to build equity in your home.
Look for more articles and videos in the future on different aspects of real estate.
Real estate is a wonderful investment!