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How to Renovate Your House (With Someone Else's Money).

by Betterbuck

Updated 9/1/21

Want to upgrade your house without breaking the bank?

There's a handy trick you can use to finance your project without actually paying for it.

A Boston-based fintech company called Hometap is willing to pay you anywhere between $15k-$400k to renovate your house.

And, somewhat bizarrely, you don't have to pay the money back.

Sounds a little too good to be true, right? Here's how it works.

The details

- Hometap buys part of your house as an investment(you decide how much you want them to invest). In exchange, you get paid cash up-front - anywhere between $15k-$400k.

You can use that cash to upgrade your house, or do anything else you'd like.

- Then, whenever you decide to sell your home, Hometap collects their portion of the sale price (because they own a portion of your house).

- The money you received isn't a loan - you just sold Hometap a portion of your house. That means you don't pay any monthly payments or interest, either.

A screenshot of Hometap's website.

But here's the catch.

Sounds a little too good to be true, right? 

There are a few caveats:

1. Hometap is only available in certain states, and...
2. Spots are relatively limited, and demand is (understandably) very high.

Right now their available locations are:

Arizona, California, Florida, Massachusetts, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania and Washington state.

If you live in one of those states, you likely qualify.

What other people have to say.

Thus far, reviews have been extremely positive. Hometap is rated 4.8/5 stars on Trustpilot (630+ reviews) with legitimately impressive feedback.

We'll keep monitoring their review activity to see if anything changes.

Give it a try.

Go to Hometap's Application Page

by Betterbuck

Updated 9/1/21

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- BetterBuck

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