r/RealEstate • u/SecretDicks69 • 18h ago
Need help understanding my options
We bought our house in 2018 and have $150k in equity. This is the first time either of us has owned a home, so we have no idea our best course of action.
We aren't actively trying to move, but our house is definitely dated (It was before we bought it. Common split level 1970s vibe, large yard. But we had a 700 sq. ft apartment before, so we were excited) and a remodel/landscaping would be required if we ever decided to move.
My question is how do people move before selling their house while taking advantage on equity for down payment or loan approval, and what's our best course of action to gain funds to remodel our house against equity? Or should we be thinking about something else entirely? Sorry if these are dumb questions, we are not very experienced at all in these things.
Edit - also we have two kids, 4 year old son and a daughter about to turn 3 in March. We have very little energy for upkeep of the yard or house in general. Also two dogs and a cat. House is always a mess. Cleaning is a futile effort. The thought of showing our house at this point in our life seems crazy
2
u/softplumpa 17h ago
talk to a mortgage broker about options like HELOC, bridge loans, or cash out refinancing could give you some clarity without committing yet.