Now May Be the Time to Cash Out on Your Equity

Do you own a home? If so, its value has gotten a big boost over the last year! That means your net worth also got a big boost because your equity (the current value of your home minus what you owe on your loan) has grown. In fact, if you own a home in Florida, the average increase in equity gains year over year is $90,000! Based on this recent home appreciation, your equity is more than meets the eye!

Since there are more buyers looking for homes than there are homes for sale, supply and demand dictates how home prices rise. So, your home is worth more now because it is in high demand. And, because the value of your home has risen, the equity you have in it has also gone up considerably.

Equity Rising Provides a Unique Opportunity

When the equity in your home rises, it not only builds your net worth, but it can also help you fulfill other life goals, like buying your next house or perhaps investing in a rental property. When you sell your current house, the equity you have built up comes back to you in the profit from the sale. It just may be what you need to cover a large portion or all of your down payment for your next home or investment.

If you’ve been thinking about selling your current home, or have been holding off selling it because you worry about not being able to afford another because of today’s ongoing price appreciation, your equity can help you enormously in your next move. If you do decide to make your move, the equity you’ve gained in your current house over the last year can make a big impact.

If you’d like to find out what your current home is worth, contact Logical Choice Realty Group. We will accurately price your home based on several factors including what price comparable homes in your area are selling for, or have already sold for. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let us be your trusted real estate advisor.

Call us today at 239-677-9450.