Homeownership: An Investment in Family, Community, and Future Prosperity

As we observe a slowdown in the appreciation of home prices, recent years have seen a significant increase in many homeowners' overall worth. With this increase in net worth, homeowners now qualify for various options that can help them take advantage of their equity, even as the market moderates. This article dives deeper into the potential benefits available to homeowners who are sitting on a wealth of equity.

How Equity Has Grown in Recent Years 

The imbalance of homes for sale in comparison to the number of homebuyers over the past several years has led to a significant appreciation in property values. Although this appreciation has slowed this year, homeowners are still likely to have built equity in their homes. According to the Homeowner Equity Insights report from CoreLogic, the average homeowner saw an increase in equity of $34,300 over 12 months. Long-term homeowners could potentially have even more equity due to this upward trend.

Equity is a great asset that increases your overall net worth, but it also has other useful applications. Selling your current house gives you access to the equity you’ve built up, and you may be surprised at how much of your down payment for a new home can cover.

If you've been pondering your next move, why not figure out the amount of equity you have now? Fill out the form below and we'd love to help you.