As a long-term homeowner, you’ve got plenty of wisdom and experience under your belt. But when it comes to your home and finances, there’s always room to grow. Get ready to feel empowered as we’ve rounded up several smart moves that’ll have you feeling like a real estate pro, no matter your age.
From leveraging hidden equity to outmaneuvering the market, these tips are guaranteed to have your finances singing. Not all these tips may work for you, but some definitely will, so be sure to read them all.
1. Make your home work harder for you
Why settle for less when you can create the home of your dreams right where you are? Or use the cash for anything else you need?
With today’s soaring real estate prices, a home equity line of credit (HELOC) could be the answer to unlocking your home’s full potential without breaking the bank.
Instead of stretching your budget on an overpriced new home, tap into the equity you’ve built to finance those renovations you’ve longed for. Upgrade your outdated kitchen, build your dream master suite, or finally add that home office. But the flexibility doesn’t stop there – use your HELOC funds for other goals like consolidating debt, paying for education, taking a dream vacation and more!
The best part? HELOCs typically offer lower interest rates than credit cards or personal loans since they’re secured by your home’s equity. That means big savings while you build lasting value.
Don’t wait any longer to unlock your home’s potential. Visit Money.com's home equity loan table today to easily compare HELOC rates from multiple lenders and find the most affordable option. With just a few clicks, you could be on your way to an envy-worthy dream home or funding anything else on your list!
2. Get a second set of expert eyes
To properly manage your money, including your home’s equity, work with a professional — it’s totally worth it. If you’re not doing this, you could be missing out on some serious financial gains.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!
If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an advisor can help lower your tax burden, create a comprehensive financial plan, maximize your Social Security, help with estate planning and make sure you’re on the right track. They can also be there in case one day, you’re not.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Nothing to lose and lots to potentially gain. Take a minute and check it out right now!
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
3. Slash your insurance bills
You need to insure your home, but what you don’t need is to pay more than you should. That’s why, once every year or two, you should take a few minutes to make sure you’re getting the best possible deal.
Especially when shopping for homeowner’s coverage is so quick and easy. Simply click on one (or both!) of the following comparison tools. No more tedious manual searches or annoying sales calls – just the information you need to make an informed decision. Try them right now and you’ll see what we mean.
Imagine the look on your friends’ faces when you tell them you saved 15% or more on your coverage by using a comparison site. Stop delaying, be proactive and save money by getting a free quote!
4. Protect your home from costly surprises
Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your castle can quickly crumble and cost you hundreds, or even thousands.
Unless, that is, a home warranty company has your back. Example? First American will protect you from giant bills by covering everything from home appliances to electrical, plumbing, heating and cooling systems — even pools and spa equipment.
They also allow you to customize your plan, so you only pay for what you need.
When something goes wrong, just call First American, day or night. The company has a network of prescreened technicians and typically dispatches an independent contractor within 48 hours.
Hey, if you’re handy and like to repair stuff yourself, that’s obviously the cheapest route. But if that’s not you, a penny spent now could save you big bucks later.
Get your free quote in 30 seconds.
5. Bring your bathroom into the 21st century
You want to update your bathroom, but it’s an expensive and time-consuming hassle.
Solution? Update your bathroom in as little as 24 hours with One Day Bathroom Renovation. They offer affordable opulence – without disrupting your life for weeks or months on end.
One Day Bathroom Renovation boasts therapeutic soaker tubs, walk-in showers and budget-friendly financing.
Maybe you’ve never really understood the whole designer bathroom craze, and don’t need a spa-like sanctuary with marble countertops. But an update is not just vanity; it’s maintenance.
A bathroom remodel can address unseen plumbing issues, seal cracks, remove mold, repair floor rot, and freshen up peeling paint and dated decor. A little investment now could offset major expenses in the future, not to mention make it easier to sell your home down the road.
Get a free quote now to see how One Day Bathroom Renovation can quickly and beautifully transform your loo.
6. Use this secret source for discounts
Are you over 18? Then you’re eligible to save hundreds of dollars every year simply by joining AARP.
“What?” You say, “I thought AARP was for retired people.”
As it turns out, you don’t have to be 50 or older to join AARP. And members get discounts on hundreds of things, like:
- Up to $200 per person off flights
- Up to 30% off rental cars
- Up to 15% off restaurants
- Up to 20% off hotels
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.
Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $15 per year with auto-renewal. You’ll likely recoup the cost in the first week. Click here and check it out.
7. Invest in real estate for $10
Real estate has long been a path to wealth. But you need to be wealthy to get started, right?
Wrong. For as little as $10, Fundrise can get you started. Fundrise lets you buy into real estate properties the same way stocks let you buy into companies.
In effect, you’re a landlord without having to run background checks or serve eviction notices. While not a guarantee of future results, Fundrise investors have earned an average of 25% within three years; if they held on for five years, the increase was more than 50%.
People are always going to need a place to live — and recent rent jumps make real estate investing more profitable. Rent prices went up almost 17% in 2021, according to data from Harvard’s Joint Center for Housing Studies.
Take two minutes and check it out.
Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.
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