If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life.Since affordability is still a challenge, a lot of first-time buyers are struggling to buy a home in today’s market. Even if they have a stable job and a solid plan, buying can still feel out of reach. But that’s where your equity could make all the difference.To give you an idea, the average homeowner with a … [Read more...]
Home Projects That Boost Value
Whether you’re planning to move soon or not, it’s smart to be strategic about which home projects you take on. Your time, energy, and money matter – and not all upgrades offer the payoff you might expect. As U.S. News Real Estate explains:". . . not every home renovation project will increase the resale value of a home. Before you invest in a swimming pool or new addition, you should consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell."That’s why, before … [Read more...]
Your Home Equity Could Make Moving Possible
Some HighlightsThanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too. On average, homeowners have $311K worth of equity.Once you sell, you can use it to fund your down payment on your next home or maybe even to buy a smaller house in cash. If you want to find out how much equity you have, connect with an agent. Because it may make a move a lot more feasible than you'd think. … [Read more...]
Should I Buy a Home Now or Wait?
At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.Forecasts Say Prices Will … [Read more...]
Do You Know What Your House Is Really Worth?
Some HighlightsOver the past 5 years, home prices have risen dramatically. If you own a home, that means your house may be worth a lot more than you think. Nationally, prices are up nearly 60% since 2019. And, if selling has been on your mind, you can use that bigger-than-expected return to power your next move.If you want to know how much your home is worth in today’s market, reach out to a local agent. The number may surprise you. … [Read more...]
Time in the Market Beats Trying To Time the Market
Some HighlightsAre you torn between whether to buy a home now or wait? Consider this.Forecasts show prices will climb for at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise.If you're able to buy now, this equity is one reason why it'll be worth it in the long run. Connect with an agent if you're ready to talk through ways we can make it happen. … [Read more...]
How Much Home Equity Have You Gained? The Answer Might Surprise You
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.What Is Home Equity?Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have … [Read more...]
Time in the Market Beats Timing the Market
Trying to decide whether it makes more sense to buy a home now or wait? There’s a lot to consider, from what’s happening in the market to your changing needs. But generally speaking, aiming to time the market isn’t a good strategy – there are too many factors at play for that to even be possible.That’s why experts usually say time in the market is better than timing the market. In other words, if you want to buy a home and you’re able to make the numbers work, doing it sooner rather than later is usually worth it. … [Read more...]
How Home Equity May Help You Buy Your Next Home in Cash
Building equity in your house is one of the biggest financial advantages of homeownership. And right now, homeowners across the country are sitting on record amounts of it.Here’s a look at how that equity could be a game changer for you, and why it’ll flip your perspective from “Why would I move right now?” to “Why wouldn’t I?”Home Equity: What Is It?Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is valued at $400,000 and … [Read more...]
Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash
One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:“With the recent house price increases, some people are worried about a new … [Read more...]
