Owning a home just makes sense for most Canadians. A place to live and possibly raise a family that builds equity over time is sound financial planning.

As home values increase and mortgage principal gets paid down, your equity grows. That equity is an ideal resource to create greater financial security. Using existing equity to renovate your home, for example, is an excellent way to add value, and, in many cases, renovating is a better alternative than moving. Spending on renovations has exceeded spending on new construction since 2011, and the trend looks to be increasing.

There are many ways to sensibly access your home’s equity. For example, a secured line of credit has the most flexibility: you pay interest only on the amount you use when you use it. Refinancing your mortgage is another option that allows you to take advantage of low interest rates while accessing your equity.

We’re here to help people get their first home and on the path to building equity that will become the foundation of a long term financial plan. In addition, we can help look at the many available options that can release the equity that has been built over time for renovations, paying off higher interest debts, or making other investments.

Download MOPOLO, our personal app, so you have our information at hand and we’ll keep you updated.