Nichols Hills Homes and Your Home Equity

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Real Estate Agent with Preferred Referrals LLC 150291

Smart Ways To Use The Equity In Your Nichols Hills Home
Home equity is the difference between what your Nichols Hills home can sell for and what you owe on it. Generally, the longer you own your home, the more equity you build. This is money you can use before you sell your home through a home equity loan. Just keep in mind that a home equity loan is secured with your home. If you can’t make the payments, you can lose your home. This is why you have to use your home equity in smart ways.

  1. Remodel your home. If you’ve wanted to add on a family room or modernize your kitchen, consider using your home’s equity to fund the project. Home improvements usually increase your home’s marketability and value.
  2. Make needed major repairs. Your home’s equity can be a funding source for major repairs like plumbing problems and re-roofs. Once again, this is an improvement for your home that will help keep its value up.
  3. Buy another property. Real estate, even luxury real estate like in Nichols Hills, is still a safe investment. You can use your home equity to buy a second property when home values are down. When the market recovers, you can sell the investment property for a profit. This also works if you have to move out of town and are still trying to sell your home. If you can afford the payments, use your home’s equity to purchase your new home until the current one sells.
  4. Pay for unexpected medical expenses or job loss. You never know when a medical emergency or job loss will leave you in debt. A home equity loan can give you the money you need to get through this difficult time.
Luxury Homes Have the Same Equity Issues and Advantages as any other piece of real estate.... 

It’s easy to build equity in your Nichols Hills home when you find the right deal. Let me help you find your perfect home in Nichols Hills or elsewhere in this Oklahoma real estate market. I will help you determine the best deal and negotiate a great price and terms for you. Call me at 405-414-5022 or email me at valeriemcevoy@remax.net. LINKS: Kitchen remodel. http://www.kitchens.com/ Plumbing problems http://www.diynetwork.com/plumbing/index.html Find a home equity loan. http://www.bankrate.com/brm/rate/loan_home.asp    

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