Is it Time for an Equity Assessment?
If you’re a homeowner, you might be torn on whether or not to right now. Maybe that’s because you don’t want to take on a higher on your next home. If that’s your , understanding your equity may be exactly what you need to help you feel more comfortable making your move.
Equity is the current value of your home minus what you owe on the loan. And recently, that has been growing far faster than you may expect. Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly. While the market has normalize, there’s still an imbalance between the available for sale and the looking to make a purchase.
With today’s , that equity can be a game changer when you move.
Once you , you can use your equity to help with your next purchase. It could be some (if not all) of what you’ll need for your next down payment. It may even be enough to allow you to put a considerably larger down payment on your next home, so you don’t have to finance quite as much. And, if you’ve been in your current house for years, you may have even built up enough equity to pay in all cash. If that’s true for you, you’d be able to avoid borrowing altogether, so you wouldn’t have to worry about today’s .
The best way to learn how much you have is to reach out to a trusted real estate agent for a Professional Equity Assessment.
If you’re planning to , the equity you’ve gained can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, contact me today and we can chat and see if the time is right for you to make a move.