Unless you’re my brother, who spends untold amounts of money renoing various portions of his house, then has it reassessed so he can add to his home equity-based line-of-credit, so he can have more money to do more renos ad infinitum. I mean he’s done this a dozen times (or more).
It’s a never ending circle of financial death over there.
There’s a whole cottage industry dedicated to convincing people their kitchen and baths need to be remodeled to the studs every 10/15 years, windows need replacing, new siding, all sorts of crazy shit, just get yourself a home equity line, it adds to the value after all! But that just means you’re in more debt to own what you already owned. Home equity lines of credit can be super useful but people use them like lotto tickets.
Unless you’re my brother, who spends untold amounts of money renoing various portions of his house, then has it reassessed so he can add to his home equity-based line-of-credit, so he can have more money to do more renos ad infinitum. I mean he’s done this a dozen times (or more).
It’s a never ending circle of financial death over there.
There’s a whole cottage industry dedicated to convincing people their kitchen and baths need to be remodeled to the studs every 10/15 years, windows need replacing, new siding, all sorts of crazy shit, just get yourself a home equity line, it adds to the value after all! But that just means you’re in more debt to own what you already owned. Home equity lines of credit can be super useful but people use them like lotto tickets.