Owning a home with a lot of equity feels reassuring. You may have lived there for decades. You may owe very little on the mortgage. Zillow may tell you the property is worth $500,000, $600,000, or more. That doesn’t necessarily mean you’re financially comfortable. I’m talking to more homeowners who are sitting on hundreds of…
Most homeowners don’t ignore major risks on purpose. They assume the backup sump pump will work because it worked the last time they checked it. They assume the water heater will make it another few years because it hasn’t leaked yet. They assume their condo will be easy to finance when it’s time to sell.…
Homeowners spend a lot of money fixing problems that may not require the solution they’re being sold. An air conditioner stops working and suddenly someone wants to replace the entire system. A door feels drafty and the assumption is that the whole thing has to go. A homeowner wants to improve the house and immediately…
Buying, selling, financing, or inheriting a home involves a lot of paperwork. Most people understand that in theory. The problem is that once the process gets moving, it becomes very easy to rely on someone else to handle the details. The attorney will check the numbers. The real estate agent knows what was agreed to.…
Homeowners make dozens of decisions every year about repairs, financing, maintenance, and the people they hire. Most of those decisions begin with the same question: How much is this going to cost me right now? That’s understandable, but it’s rarely enough. A low mortgage rate can hide thousands of dollars in upfront fees. A perfectly…
Homeowners are constantly being offered ways to save money, access cash, reduce risk, or make their homes more efficient. Some of those options can be valuable. Others can create long-term commitments that aren’t immediately obvious. Whether you’re considering solar panels, dealing with an insurance claim, trying to protect a finished basement, or buying out a…
Owning a home gives you options, but not every option is automatically a good one. You may be thinking about selling while buyers are still active. You may need access to the equity you’ve built. You may simply be looking for ways to reduce rising household expenses. Whatever the situation, the goal shouldn’t be to…
