You may think your home value is determined by square footage, lot size, neighborhood, and your home’s condition. And you’d be right — those are all important factors. But you’d be overlooking another key piece of the puzzle: Nearby home sales, which have a significant impact on your home’s value. 

Some home projects can cost thousands or even tens of thousands of dollars. That’s a lot of money, even if you’re a diligent saver. But what you may not know is that your home itself may offer a solution. There’s a way to borrow against your equity using a financial tool called a home equity line of credit (HELOC). Here, we’ll get into the nitty gritty of HELOCs and how they can work for you.