Appraisal with cash out -advantages?

[Anita Morrish]

Not sure if this is the right forum but it's about a mortgage...so, we've lived in our house for 2 years. It's a new development and we know the starting selling prices on the houses have gone up since we moved in. We are saving/putting together money for a new investment and I wonder if it's too early to get an appraisal on our house to see if there would be a cash out option. Is this a good or practical option if I am new to investing and looking for creative ways to gather my funds? Have you done it and what was the outcome? Thank is advance