The Learning Centre:
Serial Home Buyers Beware
What’s the harm in moving frequently?
Experts say that boredom is the second biggest reason for moving to a new home, surpassed only by retirement. On average, people move 4 to 5 times in their lifetime; however, some are moving more frequently driven simply by a desire for a change of scenery.
Unfortunately, frequent moving is destructive to wealth, with our analysts estimating that moving costs and transactions can add up to as much as $20,000.
Though it’s certainly human nature to desire change, arguably, renovations can do an equally satisfying job of refreshing your landscape. Moreover, it will save you money and could add valuable equity to your home.
Not sure how to pay for renovations?
With a HELOC – a home equity line of credit – you can take out a loan from the equity in your home. Also, considering the current low-rate environment, you may pay less for the loan now than you will once rates go back up. So, if you’re itching for a new address this spring, consider picking up a home renovation magazine instead. You might be surprised how new your home will feel after even a minor facelift.
Did you know Educators offers low-rate lines of credit that can save you thousands of dollars in interest?
Now you can make your home renovation dreams come true by consolidating your high-interest debts into one low-rate line of credit through us!