Michelle Anne Murphy - South Shore Real Estate Services | Scituate MA Real Estate


Home values continue to rise. Many people use their home equity in order to get a bit more financial security. The home equity line of credit can have many different benefits for you. From home improvement projects to a much-needed vacation, you can get the funds that you need for whatever you wish. Turn to your home equity with some careful thought, however. You could end up owing more than your home is worth, which defeats the purpose of tapping into your home equity to begin with. 


Make Your Decision Smart


Your home equity can be a good thing to tap in to if you’re not planning on spending like crazy. Maybe you just want a little extra cash on hand for emergencies. You’ll be prepared for anything unexpected. This could be a smarter decision than just blowing a bunch of money on a vacation, for example. 


Some smart things that you can use your home equity for include:


  • Home renovations
  • Emergency funds
  • College education funds
  • Cash advance


These ideas are investments that can help you to achieve other goals. You should be sure that you’re able to pay the money back. These projects or financial endeavors are much more suited to smart spending than just randomly spending money, buying a car, or other things that will put you in serious debt.


Home Equity Fluctuates


As the market changes, the amount of home equity that you’ll have to tap into does as well. The state of the housing market can actually dictate to you how much money you’ll be able to get. If the market isn’t good, you could end up in the negative financially, so do your research. 


How To Get Your Home Equity


There are a few ways that you can draw from your home’s equity. The first rule that you should understand is that you cannot borrow more than 80% of what your home is worth. Take a full remortgage your home, giving you the full 80% amount that your home is worth in order to take a lump sum. Alternatively, you can take a cash-out refinance where you set the amount of money you’d like to take out of your home’s equity as you refinance the home. You can also take out what’s called a “home equity line of credit,” which allows you to use the amount of your home’s worth as a credit card of sorts. You borrow money as you need it.     


The biggest issue with refinancing is that of planning. It’s important to know why you’re refinancing and what you’re planning on doing with the money. Used wisely, home equity can really be a great financial tool.



49b Collier Rd, Scituate, MA 02066

Third Cliff

Single-Family

$2,399,000
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
Once in a lifetime opportunity! Rarely does a private direct oceanfront property become available to build the house of your dreams! This stunning Nantucket Craftsman will include wrap around decks with panoramic views of the Atlantic ocean, Provincetown, North River & direct access to the famous sandy "Spit" perfect for beachcombing, sunbathing & soaking up the good life! Custom construction by highly regarded local builder K&E Construction. To be built once you choose the final touches & finishes! Imagine a master suite with yoga studio & infinity spa balcony? Expansive great room with beach stone fireplace, entertaining deck & outdoor kitchen? This Third Cliff dream home is ideally located minutes from golfing, marina, harbor shops, restaurants, lighthouse & the Greenbush train to Boston! What are you waiting for! This is a builders package, plans shown are concepts only, actual designs may vary. See listing ID 72343819
Open House
Sunday
November 11 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 49b Collier Rd, Scituate, MA 02066    Get Directions

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49 Collier Rd, Scituate, MA 02066

Third Cliff

Single-Family

$1,759,000
Price

11
Rooms
5
Beds
3
Baths
Once in a lifetime does a breathtaking oceanfront location on the coveted Third Cliff of the South Shore become available with your own sandy beach & direct access to the famous barrier island known as the SPIT! This hidden seaside gem is privately set between climbing beach roses and the choice is yours to move right in, remodel or rebuild! This treasure is designed for soaking up the coastal lifestyle & entertaining with 2 kitchens,2 family rooms, decks, patios & pier! A gracious master suite with balcony, full bath & sitting area! All new windows, utilities, roof, refinished hardwood floors, garage, garden area, private landscaped yard.The guest suite is the perfect Airbnb apartment/ investment income with a separate entrance.Wake up to a stunning sunrise over the Atlantic ocean with views to PTown and beyond! Just minutes to Scituate harbor, bike trails & the train to Boston! Price ranged 1,759,000-1,959,000. Live like you are on vacation all year long!
Open House
Sunday
November 11 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 49 Collier Rd, Scituate, MA 02066    Get Directions

Similar Properties



Whether your adult children have left the nest or you recently decided to "upsize" to a larger house, you're now faced with the minor "problem" of what to do with that extra space.

While some homeowners just use it for storage or guest bedrooms, there are plenty of other possibilities that are well worth considering.

Exercise room: In spite of the many proven benefits of regular exercise -- ranging from increased strength and endurance to weight control and slowing down the aging process, many people have trouble getting started and staying motivated. It's a lot easier to come up with a laundry list of excuses than join a gym and stick with an exercise program. It's surprising how many people actually join a health club, but then stop going after the novelty (and their enthusiasm) wears off.

However, when you create a dedicated fitness space at home, most of your former excuses no longer hold water! With a home gym or exercise room, you not only have convenience, privacy, and 24/7 availability, but there are no parking issues, traffic problems, membership fees, or noisy weightlifters. If you prefer a regimen that's less vigorous, there's always the option to use the room for yoga, tai chi, and meditation.

Home office: With more homeowners telecommuting, consulting, freelancing, blogging, and starting ecommerce stores, it makes sense to set aside a dedicated space in your home for business and career development. A home office is also a quieter place to go for other tasks, such as paying bills, applying for jobs, social networking, catching up on your email correspondence, or planning your next vacation.

Home library: If you or any of your family are avid readers, a room with lots of built-in shelving, comfortable furniture, and adjustable lighting would be the perfect place to curl up with a good book and a hot cup of tea. Not only would a home library be the ideal environment for reading, studying, or doing research, but it might even encourage your children to cultivate more of an appreciation for reading and learning.

Craft room: Whether there are artists, embroiderers, or jewelry makers in your household, a special room for artistic endeavors lends itself to creativity, while helping to keep craft supplies and projects confined to one area of the house! A craft room can also be ideal for storing gift-wrapping supplies and holiday cards.

Music room: If your family is musically inclined, a separate room for practicing instruments is beneficial to both budding musicians and those who want to watch TV, do homework, or have quiet conversations elsewhere in the house. A dedicated music room can also be a good spot for making music videos, recording music, and having jam sessions.

As you can imagine, extra space in your house gives you and your family the opportunity for more physical, intellectual, and creative development. Designating a spare room, a finished basement, or an attic area for artistic expression or personal development may even encourage others in your family to discover and cultivate their hidden and emerging talents!



49b Collier Rd, Scituate, MA 02066

Third Cliff

Single-Family

$2,399,000
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
Once in a lifetime opportunity! Rarely does a private direct oceanfront property become available to build the house of your dreams! This stunning Nantucket Craftsman will include wrap around decks with panoramic views of the Atlantic ocean, Provincetown, North River & direct access to the famous sandy "Spit" perfect for beachcombing, sunbathing & soaking up the good life! Custom construction by highly regarded local builder K&E Construction. To be built once you choose the final touches & finishes! Imagine a master suite with yoga studio & infinity spa balcony? Expansive great room with beach stone fireplace, entertaining deck & outdoor kitchen? This Third Cliff dream home is ideally located minutes from golfing, marina, harbor shops, restaurants, lighthouse & the Greenbush train to Boston! What are you waiting for! This is a builders package, plans shown are concepts only, actual designs may vary. See listing ID 72343819
Open House
Friday
November 02 at 12:00 PM to 1:00 PM
Cannot make the Open Houses?
Location: 49b Collier Rd, Scituate, MA 02066    Get Directions

Similar Properties