Can I use the equity in my house?
Many home owners have paid off a substantial part of their mortgage and have therefore built up a large amount of capital in their home. Especially if it has increased in value considerably. What's 'in the bricks' is often even greater than the assets they hold within their savings, investment or retirement balances.
Various studies have shown that home owners are very attached to their home, neighbourhood and social environment. That's why they don't want to move. A solution for this is to adapt and make the home life-proof, 'with a view to the future'. We hear this wish more than often. Plus the question of how this can be done with constant monthly payments. Or what about the tax if there is a large payment in one go?
Whether you opt for a monthly amount, a one-off large amount, or perhaps a combination, depends on your wishes or dreams. You can use the equity of the home for various purposes:
- Buying a 2nd home
- Buying your next home
- Renovating or adapting the house
- A supplement to the pension
- Travel more often
- Donating money to children to purchase a house
Curious which shape best suits your wishes and situation? What conditions apply and what are the consequences for your finances? Feel free to contact us for an enlightening conversation.
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