Top 5 Ways Clients 55yr+ Are Utilizing Their Home Equity
Did you know? As a preferred mortgage broker of HomeEquity Bank, we have access to specialized lending products tailored for clients 55yrs+?
Home prices have increased substantially in the GTA over the past 30 years. If you’ve been paying your property taxes, keeping your home insured & maintained, then congratulations! You’ve been building equity.
Another way of thinking about it - you’ve been putting money into an investment portfolio that you’ve had the pleasure of living in! As you move into your retirement years, it’s now time to withdraw some of that equity and put it to use to make your retirement more comfortable.
Here are the Top 5 Ways Clients 55yrs+ are Utilizing the Equity That’s Been Building in Their Home:
- Buy an investment property – buying an investment property is an excellent way to increase your retirement income!
- Gift to children – give a gift to your children to help them move into their first home or to pay down their mortgage.
- Renovation – love your home and no plans on moving? Make your home your castle! Enhance your enjoyment and the value of your home by doing a renovation.
- Vacation – whether it’s a trip of a lifetime like a luxury safari in Africa, or taking the grandkids to Disney, do it while you are healthy.
- Pay Debt – if you currently have an existing mortgage, line of credit or credit cards, we have financial solutions that can dramatically decrease your monthly obligation!
Please don’t hesitate to contact me if you’d like to discuss.
Have a great day!