Think Big This Spring!
Shannon happily owned her centrally-located Victoria home when we met her, with just a small mortgage and HELOC secured against the property. However, having recently retired, she was ready to start planning for the next stage of her life.
Shannon had already consulted with a realtor about selling her home, and they advised her that investing in a few cosmetic upgrades would result in a significant return when the property went on the market. While her pension income provided a comfortable living, it wasn't suited to saving for a renovation. That's when Shannon approached the Auxilium Team.
She was seeking a Second Mortgage to renovate and prepare the property for sale, as well as paying out her existing line of credit. Because she knew that she wouldn't be staying in the property for very long after the upgrades were completed, it was important to Shannon that the financing solution we found not have additional fees or penalties when the house sold and the mortgage was paid out.
Our team quickly went to work for Shannon and found her the ideal solution with a short, open mortgage term that not only allowed her to meet her existing goals – she was also able to assist her daughter with some additional funds.
Only a month after we met her, the renovations were well underway at Shannon's house, and when it was finally put up for sale later that year, those improvements helped her get the best price for the property. Shannon moved to a new home that's the right size for her to maintain through the golden years of her retirement.
Sometimes, a small, short-term investment in your home can pay off in a big way!