Thinking about selling your home? One of the most important steps is understanding the equity you’ve built up. With home prices soaring over the past few years, many homeowners have more equity than they might realize, and that could mean more opportunities when it comes time to move. Here’s what you need to know about leveraging your home’s equity as you plan your next steps.

Understanding Home Equity: What It Is and How Much You Have

Home equity is simply the difference between your home's current market value and what you still owe on your mortgage. For example, if your home is valued at $400,000 and you owe $200,000, your equity is $200,000.Recent studies from the Census Bureau and ATTOM reveal that Americans are sitting on significant amounts of equity. In fact, over two-thirds of homeowners have either fully paid off their mortgages or have at least 50% equity in their homes. This means that many sellers are now reaping substantial returns on their real estate investments.IMAGE

Why Equity Matters When Selling

When you have significant equity, it can be a game-changer in your next move. That equity can be a powerful financial resource, helping you purchase your next home or invest in new opportunities.

Your Next Steps: How to Make the Most of Your Equity

If you’re considering selling, it’s crucial to know exactly how much equity you have and what it could mean for your sales and plans. Working with a knowledgeable real estate agent, along with a tax professional or financial advisor, will give you a clear picture of your situation. This team can help you make informed decisions and guide you through the process. With rising home prices, your equity has likely grown as well. Let’s connect and explore how much equity you have and how it can help you achieve your real estate goals. By understanding your home’s value, you can make confident, informed decisions when it’s time to sell.