So you have been watching the market and see your home value has skyrocketed.

But you realize… you don’t want to move, nor do you need to.

Most people move for a variety of reasons; Upsize, downsize, moving for a job, newer home and the list goes on.

Just because you have a large amount of equity in your home doesn’t mean you need to sell it to use that equity.

Over the past couple years, I spoke with a number of past clients and current clients about utilizing the equity in their home and never having to move to do so.

You can do a few things,

• HELOC (Home Equity Line of Credit)
• Cash out Refi.

Both have their advantages and disadvantages so its good to talk through each option before making a decision.

With these 2 options, you will be able to take out some cash to use for whatever you would like.

I do suggest you proceed with caution though, because you do NEED to pay the money back and their is interest charged.

My suggestion, is to use the money to make money

There are a number of ways you can do that, since I sell Real Estate, I can speak to this asset class. For others asset classes you should speak with your wealth advisor that can help you determine what is the best investment for you and your goals

If you are taking it out for Real Estate, here are some options:

• Buy a rental property
• Buy a Fix and Flip
• Update/ Upgrade your current home

Remember, just because you have a lot of equity in your home does not mean you need to sell it.