Whether or not you should borrow against your paid-off house will be determined by your financial situation and why you need the money. "If you don't plan on moving, accessing that money with debt makes sense, especially if the alternatives are more expensive debt," says Dennis Shirshikov, a strategist for Awning.com, a real estate technology company and brokerage focused on investing. "It's even better if you are accessing the equity to make investments that will outperform the interest rate you are paying for the money you borrow." Other scenarios in which it might make sense to borrow include using the money to remodel or repair your home, or paying off credit card debt with high interest rates.