“Your home is the biggest investment you’ll ever make.” Next to, “Location, location, location…” it’s the most overplayed, old-school real estate cliche there is. It’s also true for most of us, but it’s treated so differently than your other investments.
If you have a 401K or any other investment account, you can log into your portal and access more data, graphs and projections than you can possibly absorb in one sitting. Yet there hasn’t been the same kind of analysis when it comes to all of the money you have invested in your home.
That’s where Homebot comes in. You start by entering the price you paid for your home and your mortgage info. Homebot will estimate the current value of your home, but that’s where I can help. Algorithms are nice and all, but they’re based on the flawed concept that all square footage is the same. You can send me a note and I’ll use comps to give you a more accurate assessment.
You’ll end up with a portal that shows you how much equity you have. It looks like this:
From there, Homebot analyzes your investment and provides ideas on how to get the most out of your home. Does refinancing make sense for you? How much more quickly could you pay off your mortgage if you added $300/month to your payment? Homebot even looks into what you’d stand to gain by renting it out several nights a month on Airbnb:
There’s analysis on using equity in your home to purchase a rental property, if you want to get into that level of detail. The thing that’s great about Homebot is you don’t have to totally geek out to make it worthwhile. It’s easy to set up and get going. If you decide you don’t love it, just unsubscribe and you’re done.
Homebot won’t cost you a thing. I invested in it for my clients, friends, family and future clients to use. If you want to check it out, please send me an email and I’ll get you set up.