Maximizing Your Home Equity: A Comprehensive Guide to Leverage Your Equity When You Sell Your House
As a homeowner, one of the greatest advantages you have is building equity over time. But how can you leverage that equity to maximize your investment when it's time to sell your house and buy a new one? It all starts with understanding what home equity is and how it grows.
Home equity is the portion of your home that you own, as opposed to the lender. It's the appraised value of your home minus any outstanding mortgage and loan balances.
Majority of Americans Have a Large Amount of Equity
And according to data from the U.S. Census Bureau and ATTOM, most Americans have a substantial amount of equity in their homes (see graph below):
Not only does having large amounts of equity provide financial security for millions of families, but it also minimizes the chance of another housing market crash like the one in 2008. As your equity grows over time, it can be a valuable asset when you're ready to sell your house and purchase your next home.
By selling your house and leveraging your equity, you can make it easier to pay for your next home. But before you make any decisions, it's important to understand how much equity you have and how to use it to your advantage.
Bottom Line
If you're ready to explore your options and start planning your next move, let's connect today. As experienced real estate professionals, we can help you maximize your home equity and make the most of your investment in today's market.
Contact us today at 410 340 8517 or andersonpowellrealestate@gmail.com to learn more about leveraging your home equity and start planning your next move!
By: Coach Powell LIVING THE DREAM