WHAT TO DO WITH YOUR HOME EQUITY?

Did you know as a homeowner if you have been in your house for over ten years the odds are your home equity has grown significantly. Home equity builds over time as home values grow and you pay down your mortgage. And since home prices have not reduced much over the last few years, you most likely have gained a good amount of equity in your home. 

According to Equity Insights Report, the average homeowner, in the USA, has more than $274,000 in equity right now. With this much equity, you can put your equity to good use to reach your goals. For example, Buy a Home that Fits Your Needs As a seller, downsizing might be an option you have been thinking about or perhaps you need a bigger space. Either way, you can put your equity towards a down payment. Or, you can Payoff Bills that have higher interest rates. 

As a seller, you may feel you cannot afford to move due to your debt. But did you know that using your equity to pay off some larger debts such as a car can help you offset a higher mortgage rate Or, you may want to consider Reinvesting in your Current Home Making renovations on your current home, if you are not ready to move, is a great option and can be a long-term benefit to your home value when you are ready to sell. Plus, you get to enjoy those home improvements! 

The bottom line, your equity can be a game changer in your life and goals. If you would like to know the current value of your home to see how much equity you may have, feel free to connect my team and I so we can prepare a comparative home valuation on your property.