How To Boost Your Property’s Equity
The more equity you can build up in your property, the stronger financial position you’re going to be in. You can use that equity to continue growing your property, or adding to your investment portfolio.
Here’s how you can boost your equity:
Add Value – the most common way to add value is through renovation. This can be a small cosmetic renovation, like painting walls and putting in new floor coverings. It can also be something more substantial, like redoing the kitchen or adding an extension to the property. It’s also possible to add value through things like subdivisions.
Reduce Debt – another way to increase your equity is reducing your mortgage. You can do this with products like offset accounts, or by consolidating debts and improving your overall financial position.