What is house money?

House money refers to any funds or assets that are acquired or accumulated while living in a particular home or property.

For example, if a homeowner pays off their mortgage and sells their home for a profit, the proceeds from the sale would be considered house money.

Another instance where house money may come into play is if a homeowner refinances their mortgage and receives cash back as part of the refinance.

House money can be used for a variety of purposes, such as to purchase a new home, invest in the stock market, or pay off debt.

However, it is important to note that utilizing house money always carries some risks. For example, investing in the stock market with house money could result in significant financial losses, while using house money to pay off debt may not be the most financially sound decision if the interest rates on the debt are low.

Overall, house money should be handled with care and used wisely to achieve financial goals.