Best way to use $700k home equity—pay debt, invest, or renovate?

[ProtoGallade72]

I have about $700k equity in my house, and I'm wondering what the best way to use this might be? Thanks

 

[SantosAndrews7]

Depends on income / expenses, time frame, income requirements and risk acceptance amongst other items

 

[June]

Buy an IP. Make your money work for you, mate.

First step? Chat with a broker. See what you can borrow.

Then bring in your accountant. Work out the best loan setup for you.

It's like planting a seed. Watch it grow.

If you need broker recommendations, just reach out. Happy to help.

 

[chaos_drifter90]

Well, no one can really answer that without getting into the nitty gritty of your personal and financial situation. All I’d suggest is to be really careful about borrowing against your home to invest in things that could drop in value quickly.

 

[BingeGameboy7]

Hey, you might want to ask AI how much you should consider putting into ETFs to make it work out well over the long run. You’d also need to buy ETFs on a regular basis. Oh, and don’t forget about debt recycling

 

[MistyAwaken]

I'm in a similar spot. Honestly, I'm thinking I'll check how much I can actually borrow first, and then go for a second investment property.

 

[FlashyFlange]

$700 is not a lot . What’s the total load amount

 

[Cybroxion666]

How much debt can you service

 

[DrizzleBisonX]

Invest it get it working for you. If you're wondering where exactly to put it, consider property and shares. Compare what's involved with each and what kind of returns to expect. Then pick the one you feel more comfortable putting your money into. That sleep at night factor matters!

 

[Lostinthedigital]

Leverage the equity in a structure that is tax effective to purchase another asset

 

[EclipseForge77]

If your home is owner occupied, convert it to an investment. Then, borrow up to 80% of its value. Use this money to buy more property, a business, or shares with a margin loan.