Case Studies Tara Homes: Transforming Home Equity into Cash through IoT
Edit This Case Study Record

Tara Homes: Transforming Home Equity into Cash through IoT

Platform as a Service (PaaS) - Application Development Platforms
Cement
Finance & Insurance
Building Automation & Control
Leasing Finance Automation
Tara Homes was founded by Madeline Li to address a significant financial challenge faced by homeowners in Germany. Many homeowners were struggling with financial difficulties and needed a way to access the equity in their homes without resorting to traditional loans, which often come with high interest rates and monthly repayments. Li, with her background in finance and law, recognized the need for a solution that would allow homeowners to convert a portion of their home equity into cash, providing them with immediate financial relief. However, as someone with limited coding experience, Li faced the challenge of developing a user-friendly app that could facilitate this process.
Read More
The primary customers of Tara Homes are homeowners in Germany who are experiencing financial difficulties and are looking for a way to access the equity in their homes without resorting to traditional loans. These homeowners are likely to be attracted to the Tara Homes solution because it offers an investment rather than a loan, meaning there are no monthly repayments or interest. The app's user-friendly interface, developed using Bubble's no-code platform, makes it easy for customers to check their prequalification status, submit an application, and receive an offer. The process is straightforward and transparent, with the money transferred shortly after the contracts are signed at a notary public's office.
Read More
Li decided to leverage Bubble's no-code platform to build the Tara Homes app. This platform allowed her to 'become her own CTO' and develop a fully functioning app within 12 weeks, despite her limited coding experience. The Tara Homes app offers homeowners in Germany the option to convert up to 20% of their home equity into cash in exchange for a slice of the home appreciation over a 10-year timeframe. This solution differs from traditional lenders as it offers an investment, not a loan, meaning there are no monthly repayments or interest. Users can check their prequalification status, submit an application, and receive an offer all through the app. Once an offer is accepted, an appraisal appointment is scheduled, and the money is transferred shortly after the contracts are signed at a notary public's office.
Read More
The Tara Homes app has been a significant milestone for Madeline Li, demonstrating the power of no-code platforms like Bubble in bringing innovative solutions to life. The app has not only provided a much-needed financial solution for homeowners in Germany but also showcased how individuals with limited coding experience can develop fully functioning apps. The success of Tara Homes has also highlighted the potential of no-code platforms in democratizing app development, allowing more people to bring their innovative ideas to life. Looking ahead, Li plans to further develop the app and aims to acquire the first 100 customers within the next 12 months.
Developed a fully functioning app within 12 weeks
Offers homeowners the option to convert up to 20% of their home equity into cash
Plans to acquire the first 100 customers within 12 months
Download PDF Version
test test