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How I Built My Dream Home For $157.38 Per Month

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With mortgage rates at a record low, most homeowners think that refinancing is only about lowering your mortgage payment and keeping a few dollars in your pocket. What if I told you that refinancing could actually prove to be an awesome investment vehicle?!
Here are a few examples of what homeowners do not know about taking advantage of these low rates and leveraging current market conditions to reap the benefits:
  • Adding a bathroom. A homeowner in Los Angeles added 500 square feet to their home and included a new bathroom, which cost roughly $20,000. When the homeowner went to sell it helped add an additional $100,000 in value to their home!
  • You can make money outside of taking on a construction project in your home. How about investing in the market? Think about this example: Refinancing and pulling out $30,000 in equity on your home at 3.5% interest rate is going to cost you roughly $179.87 per month. That’s less than your cable bill!  Last year the DOW Jones returned 7.52% with the NASDAQ performing even better at $13.4%. Imagine this scenario where on borrowed money you are earning a return just letting your money sit there! Now that is smart investing.
  • Innovation in remodeling. It cost my wife and I $35,000 to build a dream wine cellar in our home (pictured below), which amounts to $157.00 a month to our current mortgage. We just recently had our home appraised and this cool new feature added roughly $70,000 in value to it; Doubling our initial investment.
winecellar
There’s limited time to take full advantage of these lower mortgage rates.  Click on the link below for a free consultation to determine if refinancing is an option for you.

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