Are you likely to sell within the next 10 years?
If so, here are the steps you should take:
- Refinance. Take advantage of the fact that you have borrowing capacity, and speak to your broker.
- Go on a holiday. Using that capital, hop on a plane and fly to that country you have always wanted to visit.
- Renovate. While you are away, fix up your house! Break down those walls, re-paint, and put in that open plan kitchen.
- Enjoy. After your holiday, you get to live in a great house that you have paid off over a few years.
- Sell. When the time comes, you will not only have lived in a beautiful home that you were able to enjoy, but will also have a better home to sell.