One of the biggest reasons to become a homeowner is security, but what if you’re looking to explore your horizons? One of the biggest things that you need to do is make sure that you have the resources to pursue your dreams. A life without dreams really isn’t a life worth living. So if you’re sitting here right now, bored and looking for a change, you might find that the resources you need can be found within your home.
Indeed, it’s true — the equity in your home is a lot more powerful than you think. You have to make sure that you are focusing on the bigger picture. That involves looking at the real numbers involved with your goals. If you only stick to light goals and topics, you’re not going to be able to get what you want actually accomplished. That just wouldn’t be right, would it? Not at all!
Calculating the equity in your home is very easy. You just need to make sure that you are looking at a good estimate of what your home is worth. Sometimes it pays to have an appraisal done by either a professional appraiser or an estate agent. If it’s not too much for you to pay, getting the professional value helps. Or you can do it yourself through looking at comparable homes in your area.
From here, you want to take the value of your home and subtract form it the amount of your mortgage. So if you have a 300,000 GBP home and you only have a 100,000 GBP left on the mortgage, then you have 200,000 in equity left in the home. That’s a lot of equity! You can get a second mortgage on your home which would give you the money to pay down bills, or even go and take that dream vacation that you’ve always wanted.
Keep in mind that you will need to pay the money back, so it’s not like you’re getting the money for free. Still, some people find that getting a lump sum in their home helps them make their real dreams come true.
if you’re feeling unfilled, there’s always time to step back and make sure that you’re doing exactly what you love, when you want to do it — why not start today looking into the research? Once you look into what it takes to get a second mortgage from a good site (we like secondmortgage.org.uk), you’ll be able to move to the next step! Good luck!