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Updated over 1 year ago,
Is it a good idea to build a home addition to build equity?
I want to put an addition on my home - I want more living space for my family and to change the look of my home.
I am also looking to become a real estate investor.
Is it an ok strategy to build the home addition, which will in turn increase my home equity (by more than what I can build it for) which I can then access to fund other real estate deals? Or is it foolish to build the addition, and I should use the funds I have first to invest in real estate.
Thank you