Using home equity to your advantage

Canadians purchase homes for a variety of reasons. Some want the stability of owning their own home, while others also look at home ownership as an investment vehicle. Whatever the reason is, home ownership has proven itself to be a good stable investment over time. And one which many Canadians are profiting from.

A lot of people have chosen to purchase their first home during these times of lower interest rates. But there has been a large movement to refinance home loans and pull out equity for home improvements, investments, college expenses, and even high interest debt consolidation. More and more Canadians have been borrowing against their home’s equity in record numbers.

Previously, many saw their homes as a shelter of safety. Yet today, they are more than ever before. Willing to borrow against the equity owned in their homes to further their investment portfolios, get out of debt, send their children to university, make improvements to their home, or even boost their RRSP. So now is the time to use your home’s equity to your advantage.

While removing equity from your home can be a good idea, you should do so with caution and fully understand the benefits and possible risks. The best thing you can do is to consult a licensed mortgage professional and financial planner to discuss opportunities to make your home’s equity work for you.

I work with a great team of financial planners, accountants and lawyers who will guide you with the best advice.

Call now (647) 568-5120!

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