I'm thinking of building an application that helps homeowners and potential homebuyers.
The app would be similar to mint.com, where you can enter in your mortgage log in information and see all your payments, transaction and mortgage details.
The focus will be housing. I will use customer account information and tie it with local rent averages and property values.
So ideally a homeowner will be able do the following:
- Track their property value over time
- Check if it's worth refinancing
- Calculate additional payment savings
- Check potential profits of renting out their house
- Check what specific home improvements would do to their property value
The list goes on...
Ideally someone with an existing mortgage can do a financial check up and have a series of "what if?" calculations.
Also, I was thinking this could also target potential home buyers. Have an interactive tool that asks preference questions then the user types in an address they are considering buying and this tool will say if it financially makes sense. Maybe have the same tool that calculates if a rental property makes sense buying.
What do you Mustachian's think? Is this totally stupid? Would you use something like this? Ultimately it would be an educational software...