Use That Equity
You bought a home as a smart investment. It’s far preferable to throwing away your money on rent. However, all the carrying costs can actually make it more expensive than renting.
There’s the insurance, utilities, and property taxes. You may also have monthly condominium fees. The interior and amenities must all be kept repaired and updated to protect its value. Then there’s that expensive mortgage. Is this a smart way to use your money?
It’s true, these costs produce a satisfying living environment for yourself and your family, but you can do better than that. Look past the sentimental value and think strategically.
Talk to your Carte Financial Advisor about how that beautiful asset can be used to generate income. Rent out a portion; or leverage the available equity for a second mortgage and purchase rental property. This is what an asset is supposed to do: build your wealth.