When’s the last time you checked your home’s value? Not just a ballpark guess from Zillow, but a real number from someone who knows your local market. If it’s been a while, you might be in for a pleasant surprise.
For most of us, our house is our biggest financial asset. And if you’ve been in your home for a few years, chances are, it’s been working overtime building your wealth—quietly, behind the scenes. Kind of like compound interest, but with drywall and a roof.
Let’s Talk Home Equity (a.k.a. Hidden Wealth)
Home equity is the difference between what your home is worth and what you still owe on the mortgage. And right now, homeowners are sitting on record amounts of it.
Let’s say your home’s worth $500K and you owe $ 200K. That’s $300K in equity just chillin’ in your house. According to Cotality, the average homeowner has around $311,000 in equity. That’s not Monopoly money—that’s real wealth.
Here’s Why Your House Is Worth More Than You Think
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Home Prices Have Skyrocketed.
The Federal Housing Finance Agency says home prices have jumped over 57% nationwide in the past five years. So, even if you haven’t made a single upgrade, your home’s value probably climbed, just for being in the right place at the right time.
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You’ve Been in Your House Longer.
The average homeowner stays put for around 10 years, according to NAR. That means you’ve likely made a solid dent in your mortgage and benefited from all that price appreciation. NAR says the typical homeowner gained $201,600 in equity over the last decade, just from owning—not flipping, not renovating—just living there.
So… What Can You Actually Do with That Equity?
Great question. Here’s where things get interesting.
- Use it as a down payment on your next home. Want to upgrade? Downsize? Move to that beach town you love? Your equity could help cover your next move—or even let you buy in all cash.
- Renovate your current space. Need a bigger kitchen, home office, or that spa bathroom you’ve always dreamed about? Tapping into your equity can make it happen and boost your home’s value even more.
- Start a business. Always had that side hustle idea? Your equity could fund it—and kick off a whole new chapter.Bottom line? Equity isn’t just a number—it’s leverage.
The Takeaway: Your Home Might Be Your Hidden Superpower
If you’re sitting on a goldmine and didn’t even know it…what could you do with it? Sell, upgrade, invest in yourself—the options are wide open.
Let’s find out what your home’s really worth right now—so you can stop wondering and start planning.
📞 Call or text us at 855-935-MORE to get your personalized home equity breakdown.
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