By using your equity to finance home improvement projects you can save money by avoiding high-interest credit card and personal loan debts.
Unsecured debts come at a higher cost than secured debts. Borrowing money from your equity is typically the most cost practical approach. Making improvements to your property can add value to your home.
Many savvy investors use their equity toward a down payment on an investment property.
This often allows investors to make a larger down payment, which could qualify them for lower interest rates and reduce the monthly payment.
In a competitive property market, this could also make your offer more attractive to sellers.
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